question

The idea that individuals and organizations are accountable to a larger society is known as

answer

Social Responsibility

question

The view that holds an organization should satisfy the needs of consumers in a way that also provides for society's well-being is known as

answer

The societal marketing concept

question

In marketing, what group consists of people who are relatively similar to each other in terms of their consumption behavior?

answer

Marketing Segment

question

The value to consumers that comes from the production or alteration of a product or service constitutes what type of utility?

answer

Form

question

Which term refers to a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers?

answer

Marketing Program

question

The idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals reflects the :

answer

Marketing Concept

question

Which of the following statements best describes a service?

answer

Services are intangible items

question

An organization that focuses its efforts on continuously collecting information about customers' needs, sharing this information across departments, and using it to create customer value is said to have a :

answer

Market Orientation

question

In marketing, thoughts about concepts, actions, or causes are referred to as :

answer

Ideas

question

The value to consumers that comes from having the offering available where consumers need it constitutes what type of utility?

answer

Place

question

A moral philosophy that exists in the Consumer Bill of Rights and is favored by moral philosophers and consumer interest groups is referred to as the Golden Rule.

answer

False

question

According to the personal moral philosophy of moral idealism, if the benefits exceed the costs, the behavior is ethical.

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False

question

A code of ethics refers to a formal statement of ethical principles and rules of conduct.

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True

question

The groups primarily served by a firm exhibiting stakeholder responsibility include

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Consumers, employees, suppliers, and distributors

question

Green marketing refers to

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The marketing efforts to produce, promote, and reclaim environmentally sensitive products

question

Social responsibility refers to

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The view that organizations are part of a larger society and are accountable to that society for their actions

question

FedEx and UPS are converting their delivery trucks with standard diesel engines to more fuel-efficient and cleaner hybrid-electric vehicles, which can cut fuel costs by half and lower fuel emissions by 90 percent. These vehicles are marked as low-emission hydraulic hybrids right on the side of the trucks. This is an example of

answer

Green Marketing

question

Two prominent personal moral philosophies that have direct bearing on marketing practice are moral idealism and utilitarianism.

answer

True

question

Economic espionage refers to the clandestine collection of trade secrets or proprietary information about a company's competitors

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True

question

Cause marketing programs incorporate all three concepts of social responsibility by addressing public concerns, satisfying customer needs, and

answer

Enhancing corporate sales and profits

question

The goal of a SWOT analysis is to identify the critical strategy-related factors that can impact the firm.

answer

True

question

The third and final phase of the strategic marketing process is the

answer

Evaluation Phase

question

A marketing strategy refers to

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the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it

question

Market penetration refers to the marketing strategy of selling new products to current markets.

answer

False

question

A situation analysis refers to taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it.

answer

True

question

The planning gap refers to

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the difference between the projection of the path to reach a new goal and the projection of the path of the results of a plan already in place

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Which element of the marketing mix includes channels and transportation?

answer

Place

question

In a typical manufacturing firm, the structure of its marketing department is typically organized from top to bottom as follows

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CEO to CMO to Product Manager

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An approach whereby an organization allocates its marketing mix resources to reach its target markets is referred to as the strategic marketing process.

answer

True

question

Which element of the marketing mix includes discounts and allowances?

answer

Price

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Another name for an e-marketplace is

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B2B Exchange

question

The North American Industry Classification System (NAICS) provides common industry definitions to facilitate the measurement of economic activity for the member countries of the North American Free Trade Agreement (NAFTA).

answer

True

question

Perceiving a difference between a person's ideal and actual situations that is big enough to trigger a decision is called

answer

Problem Recognition

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The actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions, are referred to as

answer

Consumer Behavior

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The demand for industrial products and services that is driven by demand for consumer products and services is referred to as demand elasticity.

answer

False

question

An industrial buying practice in which two organizations agree to purchase each other's products and services is referred to as a tying arrangement.

answer

False

question

The five stages a buyer passes through in making choices about which products and services to buy is called the

answer

Purchase Decision Process

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A reference group that a person wishes to maintain distance from because of differences in values or behaviors is referred to as an aspiration group.

answer

False

question

A brand community refers to a specialized group of consumers with a structured set of relationships involving a particular brand, fellow customers of that brand, and the product in use.

answer

True

question

The group of brands a consumer would consider acceptable from among all the brands in the product class of which he or she is aware, is referred to as

answer

Consideration Set

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Segmentation based on where prospective customers live or work is referred to as

answer

Geographic Segmentation

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Frequency marketing is a strategy that focuses on usage rate.

answer

True

question

The 80/20 rule suggests that 80 percent of a firm's inventory should be readily available while 20 percent should be reserved for emergency demand.

answer

False

question

The purpose of market segmentation is to respond more effectively to the wants of groups of potential buyers in order to

answer

Increase Sales and Profitability

question

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as:

answer

Mass customization

question

Market segments refer to

answer

the relatively homogenous groups of prospective buyers that result from the market segmentation process

question

Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as competitive repositioning.

answer

False

question

Manufacturing a product only when there is an order from a customer is referred to as

answer

Build-to-order

question

Organizational synergy is the increased customer value achieved through

answer

performing organizational functions more efficiently

question

When a new product or a new retail chain steals customers and sales from older existing ones of an organization, it is referred to as

answer

Cannibalization

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