question

A Consideration Set refers to...

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the group of brands a consumer world consider acceptable from among all the brands in the product class.

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In Figure 1-1 above, the marketing department of an organization is responsible for facilitating _________.

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relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations

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Derived demand refers to

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the demand for industrial products and services that is driven by demand for consumer products and services.

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Redbox places vending machines at local convenience stores and grocery stores that allow customers to rent and return popular DVDs 24 hours a day. This creates both __________ and __________ utility.

answer

place and time

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A consideration set refers to

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the group of brands that a consumer would consider acceptable from among all the brands of which he or she is aware in the product class.

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The agent for John Grisham's newest novel has sold its rights to a British publisher for sales in the United Kingdom and Ireland, to a U.S. publisher for the United States and Canada, and to an Australian publisher for Australia and New Zealand. This is an example of

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an exclusive territorial distributorship.

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The __________ can require a company to spend money on corrective advertising to correct previous misleading ads.

answer

Federal Trade Commission

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Organizational buyers can be divided into three different markets. They are

answer

industrial, reseller, and government markets.

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All of the following are true about marketing EXCEPT:

answer

Marketing persuade people to buy the "wrong" things.

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In 1962, President John F. Kennedy outlined a Consumer Bill of Rights that codified the ethics of exchange between buyers and sellers. These were the right: (1) to ___________; (2) to be informed; (3) to choose; and (4) to be heard.

answer

to safety

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Carl and Nancy Johnson prepared a household budget in an attempt to manage their money better. As part of their budgeting process, Carl and Nancy prepared the following list: Picture After totaling necessary expenses, Carl and Nancy subtracted that figure ($1,700) from their monthly income of $4,500. The Johnsons were happy to realize that after paying bills each month, they had $2,800 left over. The money that was left after paying necessary expenses and taxes is their __________ income

answer

discretionary

question

Which of the following statements is an example of form utility?

answer

a gourmet shop that offers a home delivery service

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The __________ makes it unlawful to discriminate in prices charged to different purchasers of the same product, where the effect may substantially lessen competition or help to create a monopoly.

answer

Robinson-Patman Act

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A factor that might kill a product in the marketplace and stop the consumer from purchasing it is referred to as a(n) _________.

answer

showstopper

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Brand loyalty refers to

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a favorable attitude toward and consistent purchase of a single brand over time

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Possible barriers to entry include...

answer

capital requirements

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In Figure 1-4 above, "A" represents which era in U.S. business history?

answer

production era

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The __________ provides for registration of a company's trademark such as the Nike swoosh and the Coca-Cola dynamic ribbon device.

answer

Lanham Act

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A trademark is a device that can take almost any form, as long as it is capable of identifying and distinguishing specific goods or services. Owens-Corning Fiberglas Corporation's and NutraSweet packages trademark are an example of a product that is protected by

answer

color.

question

Emily wants to purchase a new computer. She is unsure about what hardware and software she will need. As a result, she has begun asking for advice from friends and relatives. In addition, she has talked to several computer salespeople at Apple and Best Buy and has looked at some Web sites. Emily is engaging in

answer

response feedback: Emily is externally searching for information about computers. An external search is especially important when the cost of gathering information is low, when past experience is insufficient, and when the risk of making a wrong decision is high.

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The uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces are referred to as _________.

answer

environmental forces

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Reciprocity refers to

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an industrial buying practice in which two organizations agree to purchase each other's products and services

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The factors that drive competition include

answer

entry, the bargaining power of buyers and suppliers, existing rivalries, and substitution possibilities.

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A buying center refers to

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the group of people within an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision.

question

Dutch tulip growers have developed pre-sprouted bulbs, which will bloom in consumers' gardens just a few weeks after spring planting so people who didn't or couldn't plant bulbs in the fall will have spring flowers. Nurseries plan to promote the pre-sprouted tulips to people who appreciate "finer things" and will pay the premium price. Which of the following VALS segments would be most suitable for this product?

answer

Innovators

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Laws refer to

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the trade of things of value between buyer and seller so that each is better off after the trade

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Exchange refers to

answer

the trade of things of value between buyer and seller so that each is better off after the trade

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Customer value refers to

answer

the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price

question

In Figure 5-3 above, column "C" represents which of the following?

answer

routine response behavior

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In an inflationary economy, the cost to produce and buy products and services __________ as prices _________.

answer

escalates; increase

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Congressional legislation requiring online retailers to collect state sales taxes from customers in all 50 states would affect online sellers such as Virtual Vineyards, which now only collects state sales taxes from customers who reside in California. This would be an example of which environmental force?

answer

regulatory

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According to Figure 5-5 above, "B" defines what level in the hierarchy of needs?

answer

personal

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Independent e-marketplaces act as a neutral third party and provide an Internet technology trading platform and a __________ that enable exchanges between buyers and sellers.

answer

centralized market

question

ISO 9000 refers to

answer

standards for registration and certification of a manufacturer's quality management and assurance system based on an on-site audit of practices and procedures developed by the International Standards Organization.

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In marketing, "doppelgangers" refer to

answer

parodies of existing well-known trademarks that have been created through digital technology

question

Barriers to entry include capital requirements, switching costs, advertising expenditures, and

answer

distribution access.

question

The manufacturers of several of the products in Figure 3-4 above are concerned that the product names will become generic. The legislation most likely to address this issue is the _________.

answer

Lanham Act

question

Since ___________ is regulated by the state or federal government, marketing plays a relatively small role in this setting

answer

a pure monopoly

question

Although not strictly illegal, the U.S. Justice Department frowns on reciprocity because it

answer

restricts the normal operation of the free market

question

North American Industry Classification System (NAICS) refers to

answer

the system that provides common industry definitions for Canada, Mexico, and the United States, which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA).

question

Consumer behavior refers to

answer

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

question

Arrowhead® Brand Mountain Spring Water recently changed its bottle by reducing the size of its label by one-third, using 30% less plastic, and making the bottle more flexible for easier recycling. These efforts are part of the company's goal to engage in _________.

answer

sustainable development

question

A market refers to _________.

answer

people with the desire and ability to buy a specific offering

question

Another name for an e-marketplace is a(n)

answer

e-hub

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The social forces of the environment include the ____________ of the population and its values.

answer

demographic characteristics

question

In 1988, the Trademark Law Revision Act resulted in a major change to the Lanham Act. The change allows

answer

a company to secure rights to a name before actual use by declaring an intent to use the name

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Showstoppers refer to

answer

factors that might kill a product in the marketplace

question

The system that provides common industry definitions for Canada, Mexico, and the United States, which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA) is referred to as the

answer

North American Industry Classification System (NAICS).

question

Which generational cohort is the Hyatt Place ad in Figure 3-2 above trying to reach?

answer

Generation X

question

The first major federal legislation passed to encourage competition in the United States was the

answer

Sherman Antitrust Act

question

Coca-Cola hired brand police to make sure that the Coca-Cola brand name and logo are not used without written permission. Why is Coca-Cola so rigorous in protecting its trademark?

answer

In order to maintain the use of its widely recognizable trademark, Coca-Cola must prevent the name from becoming generic.

question

A disadvantage of the North American Industry Classification System (NAICS) systems is that

answer

five-digit national industry codes are not always available for all three countries

question

There are three concepts of social responsibility, each relating to particular constituencies. According to Figure 4-2 above, constituency "C" represents __________ responsibility.

answer

profit

question

In marketing, the form of competition that occurs when only one firm sells the product is referred to as _________.

answer

pure monopoly

question

In the hierarchy of needs water, food, and oxygen would be considered __________ needs.

answer

personal

question

Caveat emptor refers to

answer

The legal concept of "let the buyer beware" that was pervasive in the American business culture prior to the 1960's

question

AT&T, MCI, Verizon, and Sprint control approximately 80 percent of the international long distance telephone market, which can be characterized as a(n) _________.

answer

oligopoly

question

E-Marketplaces go by the names of...

answer

B2B exchanges and e-hubs

question

A reverse auction refers to an online auction

answer

in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other. More buyers may enter the process as the auction goes on. Prices often are reduced along the way.

question

VALS creates profiles of people based on their primary motivation and resources. In the Figure 5-6 above, "A" refers to

answer

Innovators

question

Generation X is the label often given to

answer

persons born between 1965 and 1976

question

In an attempt to sell more soft drinks and popcorn, a theater owner embedded very brief messages during the movie trailers before the feature film. The messages, which flashed on the screen for such a short time that moviegoers were not consciously aware of the messages, urged consumers to "Drink Coke" and to "Eat Popcorn." Research showed the messages were largely ineffective. This example suggests that

answer

subliminal messages may have limited effects on behavior.

question

A target market refers to

answer

one or more specific groups of potential consumers toward which an organization directs/targets its marketing program.

question

A global undertaking to further green marketing efforts is the

answer

ISO 14000 initiative

question

Which of the following acts as a barrier to the development of relationship marketing?

answer

in some way reprocesses a good or service it buys before selling the product again to the next buyer

question

An industrial firm is a firm that

answer

in some way reprocesses a good or service it buys before selling the product again to the next buyer

question

Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) ___________; and (4) something to exchange.

answer

a way for the parties to communicate

question

A consumer's purchases are often influenced by the views, opinions, or behavior of others. Two important aspects of personal influence to marketing are

answer

opinion leadership and word-of-mouth activity.

question

In Monopolistic Competition, coupons and sales are frequently used marketing tactics for...

answer

short term impact on sales

question

Considerable research has documented that in many product categories, consumers are unable to distinguish among brands when given blind tests (i.e. taste or use of the products without labels). Such products include soft drinks, coffee, and cosmetics. Nonetheless, even when prices are similar, consumers have strong preferences for specific brands of these products. This strong brand preference is the result of

answer

routine problem solving

question

A statistical area that has at least one urban cluster of at least 10,000 but less than 50,000 people and adjacent territory that has a high degree of social and economic integration is referred to as a

answer

micropolitan statistical area

question

A make-buy decision refers to

answer

an evaluation of whether components and assemblies will be purchased from outside suppliers or built by the firm itself.

question

The Trademark Law Revision Act (1988) addresses the right of a company to

answer

secure rights to a name before the product is even in use

question

In marketing, the set of values, ideas, and attitudes that are learned and shared among members of a group is referred to as _________.

answer

culture

question

Cognitive dissonance refers to

answer

the feeling of postpurchase psychological tension or anxiety consumers may experience when faced with two or more highly attractive alternatives

question

The Lanham Act (1946)

answer

provides for registration of a company's trademarks

question

The element of the marketing mix demonstrated when a company places an ad in the Yellow Pages is _________.

answer

promotion

question

Barriers to entry refer to

answer

business practices or conditions that make it difficult for new firms to enter the market

question

Making counterfeit copies of Gucci purses, Hilfiger sportswear, and other international brands is pervasive in China because it is so easy to get away with it. Laws protecting intellectual property are unclear and sporadically enforced. Even when they are applied, sanctions are minimal, typically consisting of confiscation, a warning, a public apology, and perhaps a fine (negotiated, of course). Moreover, copying enjoys a long tradition in China and does not carry a stigma. Copying a masterpiece was historically considered an art form in its own right, and Chinese students have been taught for centuries to copy their teachers as accurately as possible before attempting to create. A business introducing a product into China needs to know that __________ may lead to trademark infringements.

answer

societal culture and norms

question

In marketing, the four basic forms of competition are

answer

pure competition, monopolistic competition, oligopoly, and pure monopoly.

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