question

What are the elements of the marketing mix?

answer

Product, Price, Place and promotion

question

What can be marketed?

answer

Goods, services, people, places, and ideas

question

What refers to the activity, set of institutions, and processes for? creating, communicating,? delivering, and exchanging offerings that have value for customers, clients, partners and society at large?

answer

Marketing

question

What is the marketer's strategic toolbox used to create a desired response among a set of predefined customers?

answer

Marketing mix

question

What type of marketing occurs when a firm markets goods from one organization to another?

answer

Business-To-Business marketing

question

When marketing adds value by ensuring consumers the type of product they want, where and when they want it, the firm is creating ____________?

answer

Utility

question

Historically, what was the original approach to marketing?

answer

Production concept

question

The triple-bottom-line orientation that has, in recent years, become a marketing process to improve the organizations capability to offer quality is based on what bottom lines?

answer

Financial, social and environmental lines

question

What era was it when Henry Ford was able to own 60% of the new-car market through developing new efficiencies in manufacturing

answer

The Production Era

question

Total Quality Management is a management philosophy that involves all employees from the assembly line onward in continuous product quality improvement. In the? 1990s, this management approach was associated with what type of? orientation?

answer

Consumer orientation

question

The triple bottom line has resulted in a new way of long-term thinking which is called what?

answer

Societal marketing concept

question

Ford employs about 200? ___________ analytics experts to help them analyze information and make better? decisions, such as making sure the right car is available when a customer with a specific profile visits a particular dealership.

answer

Big data

question

When a firm or marketing organization offers customers a superior value and capability that other competitors cannot? match, it has a? ____________.

answer

Distinctive competency through the value chain

question

The first element in the value chain an organization offers customers is the __________________.

answer

Inbound logistics

question

From a customer value? perspective, a marketing team may be challenged to convince customers that the? _________________ is superior to products available from competitors.

answer

value proposition

question

?Coca-Cola's capability to command 50 percent of the? world's soft-drink business is related to its? ________________________ in distribution and marketing communications.

answer

Distinctive competency

question

When a customer purchases an iPad at the local Apple? store, the support team called Geniuses provides assistance to the customer with any product issues. The Geniuses team plays what role in the value? chain?

answer

Service

question

As more and more consumers are using social networks and? ______________ to evaluate? businesses, marketing professionals in the hospitality industry may be inclined to consistently monitor web sites such as TripAdvisor for reviews.

answer

Consumer-generated content

question

Value Chain

answer

series of activities involved in? designing, producing,? marketing, delivering, and supporting any product

question

A? ___________ is a distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market.

answer

Market segment

question

The marketing plan is a document that describes the? organization's assessment of several elements of the market environment and one element of its competitive? advantage, which includes? _________________.

answer

The organization's capabilities- tell what the firm can do to meet the needs of customers as part of its marketing plan

question

The? _____________ is a document that describes the marketing? environment, outlines the marketing objectives and? strategy, and identifies who will be responsible for carrying out each part of the marketing strategy.

answer

Marketing plan

question

?__________ represents the market segments on which an organization focuses its marketing plan and toward which it directs its marketing efforts.

answer

Target Market

question

Although? Ford, General? Motors, and BMW are all part of the larger auto? market, each firm may attempt to attract customers whose needs differ from the larger market. This is an example of establishing a? _________________.

answer

Market segmentation

question

Marketers may focus their marketing plans and efforts around a distinct segment of consumers identified as the ____________.

answer

Target market

question

When would the fear appeal not work?

answer

The fear appeal arouses little or no anxiety, meaning consumers

question

Sex appeals can be seen as offensive to some people. The tendency of people to take offense to such ads is an example of what?

answer

Selective Interpretation

question

When consumers choose to watch specific TV shows or read certain magazines they are exhibiting in what?

answer

Selective exposure

question

The Marlboro brand was successfully repositioned to the male blue collar market by linking the brand to the image of the American cowboy. The success of this strategy is generally attributed to the power of:

answer

Classical conditioning

question

Consumer advocacy groups fear that beer ads that continuously portray its consumption in 'festive' party settings may lead children to equate having fun with drinking. This fear is tied to a belief that children are more susceptible to the power of:

answer

Classical conditioning

question

Although humor appeals for low involvement products (e.g. 'grocery store products') may yield some 'affect referral,' the primary learning theory responsible for generating brand name recall probably is:

answer

Iconic Rote Learning

question

Which of the following best reflects the concept of 'exchange' in marketing? A. Trading values between exchange partners B. Delivering want satisfaction to markets C. Generating profits from sales D. Creating synergistic marketing mixes E. All of the above.

answer

E- all of the above

question

Which of the following 'utilities' is least likely to be created solely by the marketing function in the firm?

answer

Form ???

question

Attaching an attractive life style to a product via advertising is generally an attempt to create ____________ utility.

answer

Image

question

The combination of product, price, promotion, and distribution is generally referred to as _____________.

answer

Marketing Mix

question

A measure or expression of the value (in terms of money, goods, or services) of a good or service is most closely associated with which component of the marketing mix?

answer

Price

question

A good, service, or idea that offers a bundle of tangible and intangible attributes to satisfy customers' wants & needs is most consistent with which element of the marketing mix ?

answer

Product

question

About? 25% of the? $18 trillion in world trade is not conducted in? dollars, but is? bartered, and it is referred to as? ________.

answer

Countertrade

question

Firms follow a? four-step approach to decide whether they will become part of the global market. The third step is a critical one determining the appropriate? ________ strategy.

answer

Market-entry

question

?______________________ occurs when countries trade goods by using other items instead of cash.

answer

Countertrade

question

A firm is considering going global and is determining if it should standardize or localize its market strategy. These tasks are at which step of the going global? decision-making process?

answer

Step 4

question

_________________________ is the flow of goods and services among different countries —the value of all the exports and imports of the? world's nations.

answer

World trade

question

Today, we see increasing growth in world trade with world exports of merchandise increasing from? $12 trillion in 2009 to nearly? ______________ in 2012.

answer

$18 trillion

question

Mercosur, the? EU, and? NAFTA, which contribute to the flow of goods and services? globally, are considered? ________.

answer

Economic communities

question

When a government employs? embargoes, quotas, and tariffs on foreign goods entering the? country, it is exhibiting? ________.

answer

protectionism

question

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

answer

World Trade Organization? (WTO)

question

?_________________ is an extreme quota that prohibits commerce and trade with a specified country altogether.

answer

Embargo

question

The U.S. belongs to which of the following economic? communities?

answer

NAFTA

question

The? ____________________ economic community represents 490 million? consumers, over 300 million of whom use the euro as their currency.

answer

EU

question

One of the most commonly used indicators of a? country's economic health is the? ________.

answer

GDP (gross domestic product)

question

Which of the following factors is an economic aspect of the of the? firm's environmental? scanning?

answer

General System of Preferences? (GSP)

question

The total? _________ of the United States was? $16.72 trillion, which includes the total dollar value of goods and services it produces within its borders in a year.

answer

GDP

question

In? 2009, the U.S. economy experienced falling? demand, employment, and income. Which phase of the business cycle was the country? experiencing?

answer

Recession

question

The airline industry requires substantial investments in equipment or technology to produce a product. As a? result, there are a relatively small number of? sellers, each holding substantial market? share, in a market with many buyers. Because there are few? sellers, the actions of each directly affect the others. This is an example of? a(n) __________.

answer

oligopoly

question

Brazil has recently tightened its? ________________ regarding the manufacture and assembly of wind turbines. Under these? rules, a minimum of? 70% of the steel plates and? 100% of the cement used to build the towers must be of Brazilian origin.

answer

local content rules

question

Of the three levels of business? planning, the most? long-range portion is? ________.

answer

Strategic planning

question

When a firm has multiple products and services to? market, it often creates individual units in distinct business? areas, which are referred to as? ________.

answer

Strategic business units (SBU's)

question

A? ________ is a document that describes the marketing? environment, outlines the marketing objectives and? strategy, and identifies who will be responsible for carrying out each part of the marketing strategy.

answer

Marketing plan

question

?________ refers to a managerial decision process that matches an? organization's resources and capabilities to its market opportunities for? long-term growth and survival.

answer

Strategic planning

question

?________ is the second level of planning that involves developing detailed plans for strategies and tactics for the short? term, supporting an? organization's long-term strategic plan.

answer

Functional planning

question

?________ is the third level of planning in which focus is placed on? day-to-day execution and include detailed? annual, semiannual, or quarterly plans.

answer

Operational planning

question

A marketing manager uses portfolio analysis to determine how to manage different? products, brands, and SBUs the firm has. The category that is known as a? ________ offers the greatest profits that can be used to fund other? products, brands, and SBUs.

answer

Cash cow

question

Which growth strategy do marketers employ to increase sales with existing products to existing markets such as current users and? ex-users?

answer

Market penetration

question

In step 2 of the strategic planning? process, a firm conducts a? ________, which enables the organization to develop strategies that make use of what the firm does best in seizing opportunities for? growth, while at the same time avoiding external threats that might hurt the? firm's sales and profits.

answer

SWOT Analysis

question

In the first step of the strategic planning? process, a firm creates a? ________, which is a formal statement in an? organization's strategic plan that describes the overall purpose of the organization and what it intends to achieve in terms of its? customers, products, and resources.

answer

Mission statement

question

Marvel Entertainment would be considered a? ________ on? Disney's BCG? growth-market share matrix because it creates films such as The Avengers that dominant market share and generate large? revenues, but require large amounts of funding to keep up with production and promotion demands.

answer

Star

question

If Dannon were to aggressively promote its Activia yogurt with probiotics in an effort to increase sales of existing products to existing markets such as current? users, nonusers, and users of competing brands within a? market, the company would be using a? ________ strategy.

answer

Market penetration

question

Step 2 in the marketing planning process involves? ________, which is specific to the? firm's brands,? sizes, product? features, and other? marketing-mix elements.

answer

Setting marketing objectives

question

Developing the marketing? program, also known as? a(n) ________, includes assigning responsibility for each part of the? plan, developing a? timeline, creating a marketing? budget, and then measuring and controlling the program.

answer

Action plan

question

?________ is step 4 of the market planning process. At this? stage, a firm assesses the potential demand for its products-and decides whether it is able to create a sustainable competitive advantage in the marketplace.

answer

Select a target market and the best marketing mix strategy.

question

With respect to the 'Unidimensional' theory

answer

Your affective associations with the object

question

Creating attitudes for new products generally requires attempting to first structure the consumer's

answer

Cognitions for the object

question

Consumers' life styles' are generally considered to be an outgrowth of their 'self concepts' T or F?

answer

T

question

Since 'self concept' is difficult, if not impossible, to measure, marketers substitute measures of:

answer

Life style

question

What step is this of the market planning? process? A firm performs a situation analysis by analyzing the marketing environment.

answer

Step 1

question

What step sets marketing objectives that are specific to the? firm's brands,? sizes, product? features, and other related marketing mix elements.

answer

Step 2

question

What step is focused on implementing the marketing plan and setting the controls to monitor the progress of the plan compared to the marketing objectives.

answer

Step 4

question

Every morning Pete buys a newspaper from the vending machine located just outside of his office building. What kind of utility is this?

answer

Time, place, and possession utility

question

Wilson Farms grows some of the finest strawberries in Florida. Customers come from miles away to pick its succulent berries. Last year, its owner increased its production ability by almost 50 percent. The farm owner assumed that customers would pick Wilson Farms' strawberries because the berries were of good quality and reasonably priced. Andover Farms is acting as if it is in the product-orientation stage of marketing thought. T or F

answer

False

question

Which of the following statements best reflects the adoption of the societal marketing concept by a manufacturer of disposable diapers?

answer

The manufacturer has initiated a diaper recycling program in conjunction with a consumer education program to make consumers more aware of the potential environmental hazards associated with such products.

question

Bates Manufacturing produces some of the finest furniture in North Carolina. Buyers world-wide attend furniture shows to view Bates' newest creations. Last year, management increased its production capacity by almost 20 percent, assuming that increased capacity would lead to substantial cost reductions that would allow Bates to further lower its prices. Management assumed that buyers choose its furniture due to its high quality and reasonable prices. Bates Manufacturing is acting as if it is in the _____________ stage of marketing thought.

answer

Production-oreintation

question

Barbara has opened a small business. She is selling a bottled mixture of hot and mild peppers, stuffed green olives and spices. The product is distributed by mail. So far, no promotion other than word-of-mouth has been needed. For only $4.75, you can buy a pint jar of the mixture that you can use on everything from chili to Chinese food. The preceding describes the ______________ for Barbara's company.

answer

Marketing Mix

question

T or F: Although many activities are essential to a company's growth, marketing is the only one that directly produces revenue.

answer

True

question

"A total system of business activities designed to plan, price, promote, and distribute want-satisfying products to target markets to achieve organizational objectives" is the text's definition of:

answer

Marketing

question

What is Ford's philosophy? what concept?

answer

Production concept

question

What is GM's philosophy? what concept?

answer

Marketing concept

question

Build a better mousetrap is what concept?

answer

Product concept

question

Firms engaged in a MOA are least likely to pursue a __________________ opportunity if they wish to remain within the bounds of their firm's current mission.

answer

Diversification

question

A target market is anyone who buys the good or service being marketed: T or F

answer

F

question

If the owner of a children's day-care center were to answer the question, "what business are you in?" with the statement, "We nurture children and provide them with a homelike environment that keeps their separation anxieties to a minimum", it would be an example of a market-oriented mission statement.: T or F

answer

T

question

Innovative software traditionally defined its mission as 'developing innovative spread-sheet applications.' Consultants hired by Innovative Software argue that the firm is defining its mission too narrowly, from a 'product perspective.' To avoid falling into the trap of 'marketing myopia,' how would you recommend that Innovative Software redefine its mission?

answer

Focus on software solutions for meeting a range of customer's applications-related needs.

question

Haggar Apparel, one of the United States' largest producers of ready-made custom-fit suits, has responded to the dress-down trend at work by adding jeans and a "relaxed, yet tailored" line of suits called City Casuals. Haggar anticipates that its current customers will be the primary consumers of the new line. According to the product-market matrix, Haggar Apparel is pursuing an opportunity of:

answer

Product development

question

______ is a good example of a field experiment.

answer

test marketing

question

Why would a marketing researcher use a survey rather than some other tool to gather research data?

answer

It is a good way to gather information first-hand about people's beliefs and attitudes.

question

The Postal Service gathered 800,000 names and addresses of people who took an interest in their mail service. This collection of names and addresses is an example of a(n):

answer

Database

question

The observation method for gathering research data is most effective for:

answer

Determining how people act while waiting in a bank line.

question

One of the biggest mistakes in marketing research is to:

answer

Collect primary data before exhausting the information available from secondary sources.

question

If the owners of Six Flags over Georgia want to know where the amusement park's patrons are coming from, they could send an employee out to collect the state names from the license plates of cars parked in the Six Flags' parking lot. This is an example of the ___________ method of gathering marketing research.

answer

Observation

question

Gatorade staffers monitor social-media posts 24 hours a day, hoping what they see and learn will help the company more effectively promote its new G-Series of drinks and other products. Staffers may actually engage with consumers via social media to make product suggestions, or stimulate added discussion of its products. Gatorade clearly is collecting valuable information via this activity. Gatorade's use of social media in this manner probably is best considered what form of research?

answer

Observation research

question

George just bought a new car. He like d the speed that comes with a Camaro Z28, but he also liked the luxury of the Lexus. He purchased the Honda Accord because it seemed to combine some of the luxury of the Lexus and some of the speed of Camaro. Even after making his purchase, George wondered if he had missed something by not buying one of the other cars. George experienced cognitive dissonance: T or F

answer

T

question

Which of the following best suggests the major distinction between classical conditioning and iconic rote learning as applied to advertising?

answer

Classical conditioning is used to generate a direct affective response to the brand; iconic rote learning attempts to create top-of-mind awareness for the brand - an emotional response to the brand is not intended.

question

Which of the following statements about the buying decision process used by consumers is true?

answer

Some stages of the process may be skipped.

question

When Don went to the bookstore to see if his physics textbook was in stock, he walked by the magazine rack and saw the new copy of Mother Earth News. He picked the magazine up and bought it without any prior planning. Buying the magazine was an example of _______ buying

answer

Impulse buying

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