question

Marketing involves all of the following EXCEPT:

answer

production scheduling

question

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

answer

the ability to buy them

question

Which of the following is a core aspect of marketing?

answer

making product, place, promotion, and price decisions

question

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

answer

all of the above

question

The fundamental goal of marketers when creating goods, services, or combinations of both, is to:

answer

create value

question

The basic difference between a good and a service is a good:

answer

can be physically touched

question

Marketing efforts designed to get the product or service to the right customer, when that customer wants it, are called:

answer

supply chain management

question

The advent of auction sites like eBay has increased _______________ marketing.

answer

C2C

question

Which of the following is not one of the four overarching strategies to create and deliver value and to develop sustainable competitive advantages?

answer

planning excellence

question

Which of the following represents a way to build a sustainable competitive advantage using product excellence?

answer

Positioning the product using a clear, distinctive brand image

question

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

answer

planning

question

As part of her company's SWOT analysis, Valerie is assessing the company's internal environment, including:

answer

strengths and weaknesses

question

When identifying and evaluating opportunities, STP refers to:

answer

segmentation, targeting, and positioning

question

Most university bookstores take the price they paid for textbooks and add a standard markup, usually 25-35 percent. These university bookstores are using a _____________ pricing strategy.

answer

cost-based

question

Firms with strong ethical climates tend to:

answer

be more socially responsible

question

One of the criticisms of corporate social responsibility is the difficulty of demonstrating:

answer

tangible benefits to the company

question

When marketers look at advertising media they often begin with viewer or listener profiles such as, age, income, gender, and race. They then compare the media profile with their target audience. These marketers are using _____________ to see if the media "fits" with their advertising agenda

answer

demographics

question

In New England foot-long sandwiches are called "grinders" while in many other parts of the country they are called "subs." This is an example of a:

answer

regional cultural difference

question

Mattel needed to act quickly when they learned of potential lead hazards in some of its toys. As a firm, they used ethical principles and approaches to:

answer

maintain its strong relationship with its customers by recalling products that posed dangers to children and their customers

question

Marketers have learned that gender roles:

answer

have been blurred

question

By paying close attention to customer needs and continuously monitoring the environment in which it operates, a good marketer can:

answer

identify potential opportunities

question

The firms that work along with the focal firm to provide goods and services to consumers are viewed as:

answer

corporate partners

question

When targeting new markets, marketers of liquor, tobacco, and other alcoholic beverages should always ask the ethical issue question of:

answer

Should the firm be targeting this market with this product?

question

Firms use _______________ to collect, and synthesize information about their position with respect to their rivals.

answer

competitive advantage

question

Generational cohorts are groups of people of the same generation who have similar purchase behavior because they have:

answer

shared experiences and are in the same stage of life

question

After a marketing firm has identified the various stakeholders and their issues and gathered the available data, all parties relevant to the decision should engage in brainstorming and evaluation of alternatives. _________________ then reviews and refines these alternatives, and then chooses a course of action.

answer

management

question

The centerpiece of the Marketing Environment Analysis Framework is:

answer

consumers

question

Denny is considering the question, "Did our actions have a negative impact on any stakeholder group?" Denny is addressing marketing ethical issues in the __________ phase of the strategic marketing planning process.

answer

control

question

Coca-Cola introduced Coke Zero to increase sales without taking away from its existing product sales. Which of the following is not true about this effort?

answer

Segmentation and targeting were of little use compared to developing appealing special advertising.

question

For products like pencils and paperclips which provide the same benefit for all consumers, marketers should probably use a(n):

answer

undifferentiated segmentation strategy

question

__________________ is an extreme form of a segmentation strategy.

answer

Micromarketing

question

Alex has found that investment real estate buyers and residential real estate buyers both respond positively to his marketing communication message. Alex has identified ____________ that respond similarly to his marketing efforts.

answer

market segments

question

Differences in weather and climate create opportunities for:

answer

geographic segmentation

question

NASCAR re-directed their marketing efforts when a survey indicated that almost fifty percent of their race fans were female. This is an example of ______________ segmentation.

answer

demographic

question

Travel marketers know Baby Boomers represent a huge demographic segment. They also know Baby Boomers are heavily motivated by self-fulfillment which creates the possibility of ______________ segmentation.

answer

psychographic

question

The beer commercial "less-filling, tastes great" was based on ______________ segmentation.

answer

benefit

question

Airlines were among the first retailers to embrace loyalty segmentation when they created:

answer

frequent flyer programs

question

Karen has identified four potential market segments for her Rent-A-Chef home meal catering service. She will then evaluate whether each segment is:

answer

all of the above

question

_______________ involves defining the firm's marketing mix variables so that target customers have a clear, distinctive, and desirable understanding of the firm's offerings relative to competitors' offerings.

answer

positioning

question

Whenever the president of the local, public university promotes the institution, he emphasizes the university's price (much lower than neighboring private colleges) and quality. He is positioning the institution based on:

answer

value

question

Almost every political candidate uses a combination of red, white, and blue in their campaign posters. They are trying to position themselves in voters' minds using:

answer

symbols

question

Several years ago, General Motors ran an advertising campaign for their Oldsmobile line of cars using the slogan, "Not your father's automobile" and an attractive young woman as spokesperson. GM was attempting to _______________ the Oldsmobile line.

answer

reposition

question

A(n) _________________________ is a set of procedures and methods applied to the regular, planned collection, analysis, and presentation of information to be used in marketing decisions.

answer

marketing information system

question

The difference between an MkIS and a market research study is, an MkIS:

answer

is an ongoing process of collecting, analyzing and presenting information

question

Retail check out scanning systems create a tremendous amount of purchasing information usually stored in a company's:

answer

data warehouse

question

When conducting a survey about choosing vacation destinations, Hillary will need to ______________________________, in order to get reluctant respondents to provide honest information.

answer

assure consumers that their individual responses will be kept confidential

question

Market research begins with:

answer

defining the objectives and research needs

question

Company sales invoices, Census data, and trade association statistics are examples of:

answer

secondary data

question

Primary data usually _________________ than secondary data.

answer

all of the above

question

In retailing, effective packaging sends the message:

answer

Buy me!

question

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

answer

product mix

question

Within each __________________, there are often multiple product categories.

answer

product line

question

A(n) ________________ is a name, symbol, design, or term that identifies a seller's good or service as distinct from those of other sellers.

answer

brand

question

Colgate-Palmolive has five product lines. They are the firm's:

answer

product line breadth

question

For a brand to be effective, it needs to be:

answer

easy for consumers to recognize and remember.

question

Brands that are owned by ___________ are called private-label brands.

answer

retailers

question

________________ is the process by which ideas are transformed into new products and services that will help firms grow.

answer

innovation

question

If they create new markets, pioneer or breakthrough products:

answer

can add tremendous value to firms

question

The process by which the use of a new product or service spreads throughout a market group is referred to as:

answer

diffusion of innovation

question

The ________________ diffusion of innovation group is crucial because few new products can be profitable until this large group buys them.

answer

early majority

question

When microwaves were new, they often cost over $300, were huge, and full of numerous settings and options. Brenda and Bart waited, concerned about potential health hazards and for more choices in the market. By the time they purchased one, microwave sales had leveled off and prices had declined significantly. Brenda and Bart were part of the ____________________ diffusion of innovation group.

answer

late majority

question

By 2009, if someone asked for your cell phone number and you said you did not have one, you would probably have been considered a _________________ in the diffusion of innovation process.

answer

laggard

question

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

answer

trialability

question

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

answer

cannot be physically possessed

question

By providing good customer service, firms __________ their products or services.

answer

add value to

question

In countries like the United States, services:

answer

account for an increasing share of jobs

question

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

answer

inseparable

question

When the management or owners of a service establishment have a different idea than the customers do about the expectations and service standards, the firm will likely have a ____________.

answer

standards gap

question

When there is a significant difference between the service customers receive and what the firm promotes, the firm has a ____________________.

answer

communications gap

question

A systematic ____________ program collects customer inputs and integrates them into managerial decisions.

answer

voice-of-customer

question

Price is the _______________________ a consumer is willing to make to acquire a specific product or service.

answer

overall sacrifice

question

If a marketer prices their product too low, it may:

answer

signal poor quality

question

Unlike product, promotion, or place, price is the only part of the marketing mix:

answer

that generates revenue

question

Using "keystoning" as a pricing strategy:

answer

ignores consumers' sensitivity to changes in prices

question

Bernard's firm has set corporate direction to become one of the leaders in each of its significant market segments. It was Bernard's job to examine the pricing to determine how to maximize market share, even at the expense of profits in the short run. What kind of company objective would guide Bernard's effort?

answer

sales-oriented

question

Customers must see value in a product or service before they are willing to exchange their time or money to obtain it. Not all customers see the same value in a product, though, and to analyze how many units will be sold at any given point where the consumer sees value, marketers draw on ________________.

answer

a demand curve

question

_________________ measures consumers' sensitivity to price changes.

answer

price elasticity of demand

question

Supply chain management adds value for customers by:

answer

getting products to customers efficiently

question

Stores like Home Depot and Costco act as wholesalers when they:

answer

sell to contractors or restaurant owners

question

Each day Wal-Mart's integrated supply chain management system is used to ship products from distribution centers to the company's stores. Their system is used to achieve the supply chain management goal of:

answer

all of the above

question

A marketing channel:

answer

all of the above

question

______________________ is an element of supply chain management that concentrates on the movement and control of the physical products.

answer

logistics management

question

Manufacturers use wholesalers and retailers because:

answer

they create value through convenience and lower prices

question

By reducing the number of transactions needed to move a product from the manufacturer to the consumer, wholesalers and retailers make a supply chain:

answer

more efficient

question

Retailing is where marketing:

answer

meets the consumer

question

In the past, _____________________ dominated supply chains.

answer

manufacturers

question

Retailers like Wal-Mart, Home Depot, and Kroger dictate to their suppliers all of the following EXCEPT:

answer

which competitors they should collaborate with

question

Coupons, rebates, and online discounts are types of:

answer

pricing promotions

question

Personal selling is particularly important for retailers selling:

answer

products that are complicated or expensive

question

Benefits of the Internet as a channel include:

answer

all of the above

question

______________________ is the term used to describe when retailers use some combination of stores, catalogs and the Internet to sell merchandise

answer

multichannel retailing

question

For products like pencils and paperclips which provide the same benefit for all consumers, marketers should probably use a(n):

answer

undifferentiated segmentation strategy

question

__________________ is an extreme form of a segmentation strategy.

answer

micromarketing

question

Differences in weather and climate create opportunities for:

answer

geographic segmentation

question

NASCAR re-directed their marketing efforts when a survey indicated that almost fifty percent of their race fans were female. This is an example of ______________ segmentation.

answer

demographic

question

Marketers have found that ___________________ are often more useful for predicting consumer behavior than ________________.

answer

psychographics; demographics

question

The beer commercial "less-filling, tastes great" was based on ______________ segmentation.

answer

benefit

question

One of the reasons marketers utilize loyalty segmentation is:

answer

the high cost of finding new customers

question

Whenever Donald calls on potential pest control customers, he emphasizes the fact that, unlike the national franchise competitors, he is a local business person and has been in business over twenty years. Donald is _______________ his business relative to his competition.

answer

positioning

question

Political consultants have been using market research for decades to help their candidates understand:

answer

who makes up the voting public and how to reach them

question

Quitman is creating a database system for his real estate company that will regularly collect, analyze, and present information about market trends, interest rates, sales, and leads. Quitman is creating a(n):

answer

marketing information system

question

Retail check out scanning systems create a tremendous amount of purchasing information usually stored in a company's:

answer

data warehouse

question

Through analysis of sales data, Price-cutters retail store found that customers who bought peanut butter tended to also buy bananas. Price-cutters was engaged in:

answer

data mining

question

In the example of the Whirlpool "World Washer," the research was:

answer

not particularly valuable since the firm pursued a strategy contrary to the research findings

question

Market research begins with:

answer

defining the objectives and research needs

question

Company sales invoices, Census data, and trade association statistics are examples of:

answer

secondary data

question

A _________________ is a small group of people brought together for an unstructured, intensive discussion of a topic.

answer

focus group

question

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

answer

product mix

question

Colgate-Palmolive's ____________ includes Oral Care, Personal Care, Household Care, Fabric Care, and Pet Nutrition product lines.

answer

product assortment

question

A(n) ________________ is a name, symbol, design, or term that identifies a seller's good or service as distinct from those of other sellers.

answer

brand

question

Colgate-Palmolive has five product lines. They are the firm's:

answer

product line breadth

question

A typical Wal-Mart Super Store has around 120,000 different products. Wal-Mart tracks sales and inventory levels of each product using:

answer

SKUs

question

The primary purpose of a brand is to:

answer

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

question

Most soft drink consumers buy the same brand product every time they have a choice. For soft drink marketers, their brands have:

answer

established loyalty

question

Jenna always buys Stacy's brand pita bread chips. She does not even consider alternatives. Jenna is a _________________ customer.

answer

brand loyal

question

Brands that are owned by ___________ are called private-label brands

answer

retailers

question

When Coca-Cola introduced Diet Coke, sales increased dramatically but sales of Tab, the firm's existing diet drink, declined. The introduction of Diet Coke resulted in:

answer

cannibalization

question

________________ is the process by which ideas are transformed into new products and services that will help firms grow

answer

innovation

question

Robin waited before she bought voice over the Internet protocol (VOIP) phone service. Several friends were the first to use VOIP but many other friends were interested in Robin's opinions of the new phone service. Robin is a(n) ________________ in this product category.

answer

early adopter

question

The ________________ diffusion of innovation group is crucial because few new products can be profitable until this large group buys them.

answer

early majority

question

By 2009, if someone asked for your cell phone number and you said you did not have one, you would probably have been considered a _________________ in the diffusion of innovation process.

answer

laggard

question

______________ is important for rapid diffusion of new products because products that are consistent with consumers' past behavior will be more readily accepted.

answer

compatibility

question

Gatorade was a new product that came out of research at the University of Florida. The drink company used ___________________ to gain access to the new product idea.

answer

licensing

question

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

answer

cannot be physically possessed

question

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

answer

inseparable

question

The customers at Marielle's coffee shop wanted to grab a quick cup of coffee before boarding the commuter train into the city. The sign in the window promised "Quick, In-and-Out Service". The customers were frustrated, though, when the team behind the counter was more interested in telling each other about their social lives than waiting on the customers. Marielle is likely suffering from a ____________ in her shop.

answer

delivery gap

question

When the delivery of a service fails to meet customers' expectations, a ______________ gap exists.

answer

service

question

If there is a difference between the actual service provided to customers and the service the firm has promoted, a ___________________ gap exists.

answer

communication

question

The concept of the ______________ refers to the area between customers' expectation regarding their desired service and the minimum level of acceptable service.

answer

zone of tolerance

question

Price is the _______________________ a consumer is willing to make to acquire a specific product or service.

answer

overall sacrifice

question

A demand curve shows the relationship between ___________________ in a period of time.

answer

price and quantity demanded

question

_________________ measures consumers' sensitivity to price changes.

answer

price elasticity of demand

question

For which of the following is demand likely to be least sensitive to price increases?

answer

prescription drugs

question

Firms using a ____________ pricing method set their prices to reflect the way they want consumers to interpret their prices relative to what other firms are charging.

answer

competitor-based

question

________________ pricing involves pricing a product above the prices set for competing products to capture those consumers who always shop for the best.

answer

premium

question

When a seller labels a product with the "regular price" or the "original price," and then offers a lower price, they are creating a(n):

answer

external reference price

question

Loren walked into his local beverage store and found his favorite beverage at $3 less than what he paid last week. He immediately bought enough to last for at least a month. Loren was responding to his:

answer

internal reference price

question

In a ______________________ pricing strategy, marketers rely on the promotion of sales, during which prices are temporarily reduced to encourage purchases.

answer

high/low

question

When Apple Computer Company introduced their iPhone in 2007, they priced the new combination iPod, Internet, and cellular telephone at $499, considerably higher than either their iPod or competing cellular phones. Apple Computer was probably pursuing a ___________________ pricing strategy.

answer

skimming

question

With a ________________ strategy, marketers set a low initial price for the introduction of a new product or service.

answer

market penetration

question

Mona is selling her artwork at a local festival. Her art is selling well, but t-shirts she had made up with her artwork are not selling. She decides to offer a package price for her art with a t-shirt included. Mona is using:

answer

price bundling

question

Retailers use ____________ to get rid of slow moving or obsolete merchandise.

answer

markdowns

question

The goal of coupons is to:

answer

all of the above

question

Marketing involves all of the following EXCEPT:

answer

production scheduling

question

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

answer

the trading of things of value

question

Marketing traditionally has been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following EXCEPT:

answer

performance

question

Marketing efforts designed to get the product or service to the right customer, when that customer wants it, are called:

answer

supply chain management

question

is communication by a marketer that informs, persuades, and reminds potential customers.

answer

promotion

question

The traditional marketing channel through which consumers find and purchase goods and services is known as:

answer

B2C

question

Firms achieve____________ through efficient procedures and excellent supply chain management.

answer

operational excellence

question

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

answer

planning

question

As part of her company's SWOT analysis, Valerie is assessing the company's internal environment, including:

answer

strengths and weaknesses

question

When identifying and evaluating opportunities, STP refers to:

answer

segmentation, targeting, positioning

question

Many of today's college graduates will make their livings providing goods and services to "baby boomers," the large group of Americans born in the period after World War II. Baby boomers are a ____________ market segment.

answer

demographic

question

Most university bookstores take the price they paid for textbooks and add a standard markup, usually 25-35 percent. These university bookstores are using a______________ pricing strategy

answer

cost-based

question

After conducting STP analysis for her custom auto parts store and developing strategies for each of the 4 Ps, Brenda now has to make_____________ decision.

answer

resource allocation

question

Introducing new products or services to a market segment the company is not currently serving is called:

answer

diversification

question

Mattel needed to act quickly when they learned of potential lead hazards in some of its toys. As a firm, they used ethical principles and approaches to:

answer

maintain its strong relationship with its customers by recalling products that posed dangers to children and their customers

question

New real estate disclosure regulations require sellers and their agents to tell prospective buyers about any existing problems. Previously, they were only expected to answer buyer's questions. The new regulation addressed the marketing ethical problem of:

answer

withholding information

question

Firms with strong ethical climates tend to:

answer

be more socially responsible

question

One of the criticisms of corporate social responsibility is the difficulty of demonstrating:

answer

tangible benefits to the company

question

Denny is considering the question, "Did our actions have a negative impact on any stakeholder group?" Denny is addressing marketing ethical issues in the __________ phase of the strategic marketing planning process.

answer

control

question

During the_______________ phase of the strategic marketing process, the firm's ethical questions shift from "can we" to "should we" serve the market in an ethically responsible manner.

answer

implementation

question

The centerpiece of the Marketing Environment Analysis Framework is:

answer

consumers

question

Firms use________________ to collect, and synthesize information about their position with respect to their rivals.

answer

competitive advantage

question

Firms that provide materials, transportation, advertising, accounting and other goods and services, helping a firm create value for its customers are called:

answer

corporate partners

question

The share meanings, beliefs, morals, values, and customs of a group of people are their:

answer

culture

question

In New England foot-long sandwiches are called "grinders" while in many other parts of the country they are called "subs." This is an example of a:

answer

regional cultural difference

question

Strategic efforts to supply consumers with environmentally friendly merchandise are called:

answer

green marketing

question

One of the problems for marketing communications to today's time-poor society is consumers have ____________ as an alternative to television or radio.

answer

all of the above

question

Generally, people buy one product or service instead of another because they:

answer

perceive it to be a better value for them

question

The consumer buying process begins when:

answer

consumers recognize they have an unfulfilled need

question

When Kelly began searching for a new car to replace her "clunker," she probably would rely on ______________________ sources of information.

answer

internal and external

question

Peter wanted an unbiased source of information to help him decide what brand of appliances to buy for his new condominium. Peter would most likely search for information from:

answer

consumer reports

question

Marketers are particularly interested in postpurchase behavior because:

answer

it entails actual rather than potential customers.

question

A_______________ is a need or want that is strong enough to cause the person to seek satisfaction.

answer

motive

question

International marketers know or have learned from experience that colors and symbols have different meanings in different cultures. They recognize consumer's_________________ are not always the same.

answer

perceptions

question

Patrick bought Timberland boots because he felt they were perfect for his outdoor activities. Chris brought the same model boots because he felt they were stylish, especially with the logo clearly visible. This psychological factor that is driving Chris' behavior is:

answer

lifestyle

question

The shared meanings, beliefs, morals, values, and customs of a group of people are their:

answer

culture

question

Jackie is hired as a sales rep for a company that produces and sells steel used in building construction. Jackie is in________________________ sales.

answer

B2B

question

For B2B salespeople, usually the easiest sale is a___________________ situation.

answer

straight re-buy

question

Manitoba University is buying a distance learning system. Previously, the school had no distance learning technology. For Manitoba University this represents a________________ situation.

answer

new buy

question

After need recognition, a business considers alternatives and comes up with_____________ that suppliers might use to develop their proposals to supply the product.

answer

product specifications

question

NAICS is an acronym for:

answer

North American Industry Classification System

question

Globalization refers to the process by which goods, services, capital, people, and ideas:

answer

flow across national borders

question

Originally, offshoring focused on relocating_________________ to lower cost producer countries.

answer

manufacturing

question

The main function of the________________ is to ensure that trade flows as smoothly, predictably, and freely as possible.

answer

WTO

question

Manufacturers would prefer to produce in a country with a trade____________ , because it signals a greater opportunity to export products to more markets.

answer

surplus

question

GDP is defined as:

answer

the market value of goods and services produced in a country in a year

question

Developed countries are experiencing________________ population growth.

answer

zero or negative

question

A_______________ reduces the availability of imported merchandise to compete with domestic products.

answer

quota

question

A________________ is an attempt to get consumers to choose not purchase products from a country.

answer

boycott

question

In recent years, the decline in the value of the dollar has helped U.S. marketers:

answer

exporting to other countries

question

When entering a foreign market, the least risky strategy is:

answer

exporting

question

Many of the best-known American retailers, like KFC and McDonalds, have expanded globally using:

answer

franchising

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