Ch 1-3 Lauren – Flashcards
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In a SWOT analysis, which of the following would be considered a strength for a company?
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the company developing improved production technology
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Customer-driven marketing is most likely to work well when ________ and when customers ________.
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a clear need exists; know what they want
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The ________ empowers the FTC to establish limits on quantity discounts, forbid some brokerage allowances, and prohibit promotional allowances except when made available on proportionately equal terms.
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Robinson-Patman Act
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The ________ regulates the distribution and content of unsolicited commercial e-mail.
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CAN-SPAM Act
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Ainsworth's is a toy manufacturer based in Australia. Which of the following indicates that the company is following a market penetration strategy?
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Ainsworth's licenses toy rights for a popular cartoon character in order to boost its sales.
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Which of the following is true of the different demographics in the U.S.?
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There is an increase in the telecommuting workforce.
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Greyzone, a company that creates customized furniture, is based in Terrania, but is looking to enter other countries as well. The company identifies the country of Nyevka as a good option, as the entry barriers to new companies are low. Which of the following would most indicate that Greyzone is following a diversification strategy?
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Noting that Nyevka lacks well-established suppliers of office equipment, Greyzone begins to supply these products.
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Reseller markets involve ________.
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firms that buy goods and services and then sell them at a profit
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Acme Inc., has modified the production processes of its widgets and gadgets in order to enter the Eastern European market. Acme is likely following a ________ strategy.
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market development
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Which of the following is a characteristic of the Millennials with regard to mass marketing?
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They like to seek out product information and engage in two-way brand conversations.
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With its marketing strategy chosen, the company constructs an integrated marketing program consisting of a blend of marketing mix elements called the ________, that transforms the marketing strategy into real value for customers.
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four Ps
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The market penetration and market development strategies are similar in that ________.
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both strategies involve selling the company's current products
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Which of the following has been the most common consumer response to the economic downturn that began in 2008?
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spending less and choosing products more carefully
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Which of the following companies is using a divesting strategy?
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When sales of its clothing division decline, Blackstone's sells off the division to a competitor.
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A group of consumers who respond in a similar way to a given set of marketing efforts is the company's ________.
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market segment
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The ________ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.
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marketing
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According to the product concept, a company should ________.
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devote its energy to making continuous product improvements
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Which of the following would be considered a factor of the company's marketing economic environment?
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consumer spending patterns
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Which of the following is true of the Clayton Act?
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It supplements the Sherman Act by prohibiting certain types of price discrimination, exclusive dealing, and tying clauses.
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In the BCG growth-share matrix, question marks refer to ________.
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products with a low relative market share in a market with high growth prospects
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Ryan attempts to deliver customer satisfaction every day in his installation business, Audio Expressions. The key to achieving this goal is to match the customer-perceived performance of his product with ________.
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customer expectations
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Which of the following products would CypressSound classify as a question mark in on its BCG matrix?
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Cyan, a cell phone that is specially designed for music lovers, has a very low market share, though the market is growing steadily.
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Which of the following is an example of cause-related marketing?
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a firm selling books where a percentage of sales goes to a charity
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Starbucks has introduced a debit card that lets its customers prepay for coffee and snacks. This effort by Starbucks management is an example of ________.
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market penetration
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Nathan is conducting a portfolio analysis for his company. Which of the following activities would this involve?
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evaluating the attractiveness of an SBU's market and the strength of its position in the market
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Which of the following is true of the Robinson-Patman Act?
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It amends the Clayton Act to define price discrimination as unlawful.
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Which of the following is an example of consumer-generated marketing?
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BMW's use of brand-related videos posted on video-sharing Web sites by its customers
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Which of the following terms refers to a customer's evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers?
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customer-perceived value
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Greyzone, a company manufacturing office furniture, is based in Terrania. Greyzone aims to increase sales of its products in Terrania by increasing its advertising efforts and undertaking frequent promotional events. Which of the following strategies is Greyzone using?
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market penetration
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Which of the following is true of marketing ROI?
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Marketing ROI measures the profits generated by investments in marketing activities.
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Your state's department of health has budgeted a significant amount of money for a radio, print, television, and online advertising campaign emphasizing the ill effects of smoking. This is an example of a(n) ________ campaign.
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social marketing
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Which of the following is an example of a marketing intermediary?
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a firm that helps move the company's stocks from production points to distribution centers
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________ refers to the process of evaluating each market segment's attractiveness and selecting one or more segments to enter.
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Market targeting
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Evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained is called ________.
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marketing control
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When using a harvesting strategy for a particular strategic business unit, a company ________.
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focuses on gaining short-term cash flow regardless of long-term concerns
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Josie enjoys her work at Futuristic Designs Inc. Her organization understands and anticipates customer needs even better than customers themselves do and creates products and services to meet existing and latent needs, now and in the future. Josie's firm practices ________ marketing.
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customer-driving
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Which of the following groups is included in a company's value chain?
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employees
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The town of Genter has just witnessed a devastating hurricane, which crippled the town's infrastructure. Rondoll Mart, a retail chain that has plans to open a new retail store in Genter organized a program to help the people of Genter. The program consisted of providing free meals to those who had lost their dwellings in the hurricane. By providing such a service, what section of the marketing microenvironment did Rondoll Mart best utilize to its advantage?
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local publics
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Which of the following is true of the baby boomer generation?
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They are the wealthiest generation in U.S. history.
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Greater consumer control means that companies must rely more on marketing by ________ rather than marketing by ________.
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attraction; intrusion
