Question 1

(CHAPTER 1) Jeff is going to sell sporting apparel, which he has already purchased from manufacturers, and has signed a deal agreeing to the volume he will sell monthly. He has researched his competition, talked to some customers, and decided on prices he will charge. Jeff has also developed a plan for promoting his business. Based on this description, which element of the marketing mix does Jeff still need to work on?

Accepted Answer

Place

Question 2

(CHAPTER 1) Which element of the marketing mix is most relevant to the activity \"creating value\"?

Accepted Answer

product

Question 3

(CHAPTER 1) The bottled water industry has experienced ________ than the carbonated beverage industry.

Accepted Answer

much greater growth

Question 4

(CHAPTER 1) At the beginning of the bottled water movement in the United States, it was primarily purchased by ___________.

Accepted Answer

status-conscious consumers

Question 5

(CHAPTER 1) Many consumers believe bottled water is ________ tap water.

Accepted Answer

better than

Question 6

(CHAPTER 1) The exponential growth of the bottled water industry can be attributed largely to _________.

Accepted Answer

the power of marketing

Question 7

(CHAPTER 1) The expansion of bottled water sources to include filtered municipal water was a consequence of Pepsi and Coke __________.

Accepted Answer

entering the market

Question 8

(CHAPTER 1) Effective promotion enhances a product or service\'s

Accepted Answer

perceived value.

Question 9

(CHAPTER 1) Both Pinkberry and Red Mango allow customers to \"do-it-yourself.\" In other words, customers can create and customize their own unique combinations of flavors and toppings. In marketing, this is known as ______.

Accepted Answer

value co-creation

Question 10

(CHAPTER 1) Pinkberry seems to be using _______ through its interactive website, Twitter, and Facebook.

Accepted Answer

social media

Question 11

(CHAPTER 1) Red Mango rewards loyal customers with coupons that can be redeemed for free and discounted products, and they offer loyal customers special promotions. These activities are part of a(n) ______________ program.

Accepted Answer

CRM (Customer Relationship Management)

Question 12

(CHAPTER 1) Clearly, customers enjoy the frozen yogurt offered at both Pinkberry and Red Mango. They also seem to enjoy the service in the stores as well as the idea that frozen yogurt is healthy. These elements all represent delivering value through which of the four Ps?

Accepted Answer

Product

Question 13

(CHAPTER 1) Both Pinkberry and Red Mango know that to be truly value driven, they must do all of the following EXCEPT:

Accepted Answer

make profitability the number one goal.

Question 14

(CHAPTER 1) Both Red Mango and Pinkberry must communicate information about their products and services and then deliver them to their customers. In turn, their customers provide these companies with money and information. This represents the core marketing concept of _______.

Accepted Answer

exchange

Question 15

(CHAPTER 1) Xavier is analyzing potential market segments. He should carefully seek potential customers who have both an interest in his products and

Accepted Answer

the ability to buy them.

Question 16

(CHAPTER 1) Many catalog companies create special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. This is an example of

Accepted Answer

CRM (Customer Relationship Management)

Question 17

(CHAPTER 2) First-time Spirit Airlines customers sometimes don\'t understand its \"bare fare\" strategy, leading to unpleasant surprises when they check in at the airport. In terms of a SWOT analysis, this is an example of a(n)

Accepted Answer

weakness

Question 18

(CHAPTER 2) Which of the four Ps does Spirit Airlines rely on most to create value for its customers?

Accepted Answer

price

Question 19

(CHAPTER 2) When Spirit Airlines identifies itself as an ultra-low cost carrier (ULCC), it is ______ itself compared to other airlines.

Accepted Answer

positioning

Question 20

(CHAPTER 2) When Spirit Airlines expands into additional cities, which growth strategy is it using?

Accepted Answer

Market development

Question 21

(CHAPTER 2) Which of the sources of sustainable competitive advantage discussed in the text is Spirit Airlines most likely pursuing with its ultra-low cost carrier strategy?

Accepted Answer

Operational excellence

Question 22

(CHAPTER 2) 3M involves its customers in the process of developing new products. In this way, it can benefit from current customers\' insights and develop new products that will meet these customers\' needs. 3M is pursuing a __________ growth strategy.

Accepted Answer

product development

Question 23

(CHAPTER 2) In 2006, Walmart announced that it would begin selling organic food products. In doing so, Walmart was most likely trying to

Accepted Answer

attract a different market segment.

Question 24

(CHAPTER 2) Moving from television broadcast into e-commerce has allowed HSN to achieve _______ excellence.

Accepted Answer

locational

Question 25

(CHAPTER 2) Home Shopping Network focuses its marketing efforts on busy women older than 35 years old who own their homes. This customer group is HSN\'s ________.

Accepted Answer

target market

Question 26

(CHAPTER 2) One way Home Shopping Network promoted its products was to use _____.

Accepted Answer

lifestyle programming

Question 27

(CHAPTER 2) When Home Shopping Network added event programming to its mix, which two elements of the marketing mix did it affect?

Accepted Answer

Product and promotion (HSN communicated fashion trend information (promotion), which was then tied to its new and existing products.)

Question 28

(CHAPTER 2) Home Shopping Network created product value by having ________.

Accepted Answer

exclusive designer agreements

Question 29

(CHAPTER 2) By offering new products developed by well-known designers to its existing customers, Home Shopping Network used which growth strategy?

Accepted Answer

Product development (Offering a new product or service to a firm\'s current target market is a product development strategy.)

Question 30

(CHAPTER 2) In BCG (Boston Consulting Group) portfolio analysis, products in low-growth markets that have received heavy investment and now have excess funds available to support other products are called

Accepted Answer

cash cows. (Cash cows are product lines with high relative market share as the result of past investment, but in low-growth markets. They typically generate excess cash that can be used to support other product lines.)

Question 31

(CHAPTER 5) The cost of borrowing money is measured by

Accepted Answer

interest rates.

Question 32

(CHAPTER 5) _______ consumers in the United States have increasing influences on mainstream U.S. culture and the buying power of this group is projected to reach $1.3 trillion in 2015.

Accepted Answer

Hispanic

Question 33

(CHAPTER 5) After World War II, the birthrate in the United States rose sharply, resulting in a generational cohort known as

Accepted Answer

Baby Boomers.

Question 34

(CHAPTER 5) In New England, soft drink beverages are called soda while in many other parts of the country they are called pop. This is an example of the effects of

Accepted Answer

regional culture.

Question 35

(CHAPTER 5) Firms that disingenuously market products as environmentally friendly with the goal of gaining public approval and sales, rather than actually improving the environment, are guilty of

Accepted Answer

greenwashing.

Question 36

(CHAPTER 5) Your text describes the macroenvironmental factors that operate in the external environment by which acronym?

Accepted Answer

CDSTEP (culture, demographics, social trends, technological advances, economic situation, and political/regulatory environment)

Question 37

(CHAPTER 5) Which of the following is not an example listed in your text of legislation that has been passed to protect consumers?

Accepted Answer

Retailers must honor price-match guarantees from other stores.

Question 38

(CHAPTER 5) The social trend of _____ is causing consumers to question whether or not firms are truly operating with consideration for the environment or simply changing marketing efforts in order to appear that they are.

Accepted Answer

greener consumers

Question 39

(CHAPTER 5) Ford Motor Company engages in partnerships with its suppliers, component part makers, unions, transport companies, and dealershipsâcollectively known as its

Accepted Answer

corporate partners.

Question 40

(CHAPTER 5) Culture, demographics, social issues, technological advances, economic situations, and the political/regulatory environment are all factors that make up which of the following frameworks of analysis?

Accepted Answer

Macroenvironmental factors

Question 41

(CHAPTER 5) Advertising guidelines stating that companies cannot link unhealthy foods with cartoon and celebrity figures is geared toward which social trend?

Accepted Answer

Health and wellness concerns

Question 42

(CHAPTER 5) When a firm evaluates how other companies react to the firm\'s marketing activities, it is attempting to understand what aspect of the immediate environment?

Accepted Answer

Its competitors

Question 43

(CHAPTER 5) In the immediate environment, what is the first factor that affects the consumer?

Accepted Answer

The company itself

Question 44

(CHAPTER 5) An important economic factor that refers to the persistent increase in the prices of goods and services is called

Accepted Answer

Inflation

Question 45

(CHAPTER 5) Which of the following entities is at the center of the marketing environment?

Accepted Answer

Consumers

Question 46

(CHAPTER 5) _____, also known as Millennials, constitutes more than 60 million members in the United States alone and were born between 1977 and 2000.

Accepted Answer

Generation Y

Question 47

(CHAPTER 5) Which of the following groups of people are referred to as Digital Natives?

Accepted Answer

Gen Z

Question 48

(CHAPTER 5) Consumers who have similar purchase behaviors because they have shared experiences and are in the same stage of life are known as a _____ cohort.

Accepted Answer

generational

Question 49

(CHAPTER 5) When McDonald\'s opened its fast-food restaurants in European locations, it had to modify its product offering primarily due to differences in

Accepted Answer

country culture.

Question 50

(CHAPTER 5) Which of the following is the most likely result of inflation?

Accepted Answer

Consumers will switch to less expensive options for necessities.

Question 51

(CHAPTER 5) Which of the following laws was passed to prohibit monopolies and other activities that would restrain trade or competition, as well as make fair trade within a free market a national goal?

Accepted Answer

1890 Sherman Antitrust Act

Question 52

(CHAPTER 5) The first generation of \"latchkey\" children, known as _____, includes those born between 1965 and 1976.

Accepted Answer

Gen Xers

Question 53

(CHAPTER 5) Which ethnic group represents the fastest-growing minority population and tends to earn more, have more schooling, and be more likely to be professionally employed or own a business?

Accepted Answer

Asian Americans

Question 54

(CHAPTER 5) The ability of marketers to use mobile applications, Facebook, and Twitter to more effectively target and reach their customers is an example of which macroenvironmental factor?

Accepted Answer

Technological advances

Question 55

(CHAPTER 5) Which of the following best describes the current income distribution in the United States?

Accepted Answer

Income between the highest-income and lower-income groups has grown more polarized.

Question 56

(CHAPTER 5) Which of the following is not a demographic listed in your text that would typically be used to identify consumer markets?

Accepted Answer

Religion

Question 57

(CHAPTER 5) Broadly defined, _____ is (are) the shared meanings, beliefs, morals, values, and customs of a group of people.

Accepted Answer

culture

Question 58

(CHAPTER 5) The primary strength of Pepsi is the manufacture, distribution, and promotion of carbonated beverages. These describe which factor of a Pepsi consumers\' immediate environment?

Accepted Answer

Company capabilities

Question 59

(CHAPTER 5) Which of the following frameworks for analysis is comprised of a company\'s capabilities, competitors and corporate partners?

Accepted Answer

Immediate environment

Question 60

(CHAPTER 6) The CEO of Netflix recognized consumers\' ______need for a more cost-efficient movie rental system focusing on avoiding large late fees.

Accepted Answer

functional (Because there is a need for a particular level of performanceâcost savings and convenience without late feesâthis is a functional need.)

Question 61

(CHAPTER 6) Which type of risk does the insert\'s \"Free Trial\" minimize?

Accepted Answer

Financial

Question 62

(CHAPTER 6) Fast, convenient home delivery and a wider selection of movies, Netflix\'s competitive advantage over retail stores, represent ______ for many customers.

Accepted Answer

determinant attributes (Determinant attributes are features that are important to the buyer and on which competing alternatives are perceived to differ. These are attributes that probably lead many Netflix customers to choose to subscribe and are differences from retail store video rental.)

Question 63

(CHAPTER 6) The Netflix distribution centers help to reduce postpurchase _______ by ensuring fast delivery and responsiveness.

Accepted Answer

dissonance

Question 64

(CHAPTER 6) Sharon is researching different weight-loss programs. She is evaluating each program\'s costs, ease of use, group support, and variety of choices. In the decision process, these four program differences that Sharon is evaluating are called ________.

Accepted Answer

determinant attributes

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