Marketing 3501 (Exam 1_Homework_Chapters 1-5)
A. Not engaging customers
B. Developing innovative products.
C. Satisfying customer needs
D. Telling customers what they need
E. Eliminating promotion
A. Marketing on the web
B. Selling products at a discount
C. Offering everyday low prices
D. Creating superior customer value and satisfaction
E. Creating unique products that competitors do not offer
A. The set of actual and potential buyers of a product or service
B. The products that are sold to customers
C. A company’s current customers
D. A retail establishment
E. All sellers of a product or service
A. Market share
B. Customer retention
C. Customer equity
D. Share of customer
E. Customer loyalty
A. The selling concept
B. The marketing concept
C. The product concept
D. The production concept
E. The societal marketing concept
A. Product, price, place, promotion
B. Product, price, people, packaging
C. Product, price, promotion, profit
D. Product, people, price, promotion
E. Product, promotion, price, packaging
A. Need; Want
B. Want; Demand
C. Demand; Want
D. Need; Demand
E. Want; Need
A. The marketing concept
B. The production concept
C. The selling concept
D. The societal marketing concept
E. The product concept
A. Objective value
D. Customer-perceived value
A. The production concept
B. The product concept
C. The selling concept
D. The societal marketing concept
E. The marketing concept
A. To identify competitors, suppliers, and publics
B. To position and differentiate the product
C. To segment the market and target specific segments
D. To create customer value and build profitable relationships
E. To develop the marketing mix
A. Relative market share; market growth rate
B. Market growth rate; return on investment (ROI)
C. Market growth rate; degree of competitiveness
D. Relative market share; number of products the company produces
E. Relative market share; return on investment (ROI)
A. The 4 Ps
C. The marketing mix
D. Market targeting
A. Potential future businesses
B. Marketing intermediaries
D. Functional departments
E. Strategic business units
A. Product development
C. Market development
D. Market penetration
A. Marketers are increasingly using measures such as customer acquisition and retention, customer engagement, and customer equity as measures of ROI.
B. Marketers are increasingly using customer-centered measures of ROI which include brand awareness, sales, and market share.
C. One reason ROI is used is because it is very easy to measure.
D. There is a consistent definition of ROI used by marketers.
E. One measure of ROI is sales generated by investments in marketing activities.
A. Choosing which segments to profitably serve with a market offering
C. Identifying groups of consumers with similar needs
D. Eye level in-store shelf space
E. Market share
B. Market penetration
C. Market development
D. Product development
A. Opportunity; Threat
B. Opportunity; Strength
C. Threat; Strength
D. Opportunity; Opportunity
E. Strength; Opportunity
A. Question marks; Cash cows
B. Cash cows; Stars
C. Stars; Cash cows
D. Cash cows; Dogs
E. Question marks; Stars
A. The company itself, competitors, suppliers, and customer markets
B. Suppliers, competitors, resellers, and publics
C. Resellers, physical distribution firms, customer markets, and competitors
D. Resellers, physical distribution firms, marketing services agencies, and financial intermediaries
E. Resellers, physical distribution firms, marketing services agencies, and customer markets
A. Publics, demographics, suppliers, competitors
B. Suppliers, marketing intermediaries, competitors, culture
C. The economy, publics, competitors, suppliers
D. Competitors, marketing intermediaries, suppliers, publics
E. Suppliers, marketing intermediaries, technology, publics
A. Age, gender, government regulation, and race
B. The economy, technology, family, and age structure of the population
C. Age, gender, race, and occupation
D. Population size, density, income distribution, and culture
E. Age, race, income distribution, and lifestyle
A. Adhering to government regulation
B. Being socially irresponsible
C. Environmental sustainability
D. Cause-related marketing
E. Putting profits ahead of social responsibility
A. The pace of technological change is slowing down.
B. Companies must keep up with changes in technology or risk being left behind.
C. Changes in technology are always beneficial to consumers and society.
D. As products and technology become more complex, safety becomes less of a concern.
E. Government regulation has no impact on applying new technologies to products.
B. Competitive environment
C. Business environment
E. Customer environment
A. Provide legal guidelines for businesses and marketers without actually enforcing them
B. Protect consumers from unfair business practices
C. Ensure that competition is unregulated
D. Ensure that companies make profits
E. Remove legal regulations from a free market economy
A. The ethnic diversity of the U.S. population should remain stable in the years to come.
B. The combined size of the Millennials and Gen Z has resulted in the U.S. population getting younger.
C. The LGBT community is not an attractive target for marketers.
D. There are few differences between different generational groups.
E. The U.S. population is rapidly getting older.
A. Marketers need to form more precise age-specific segments within each generational group.
B. Marketers see Gen Z as one homogenous group.
C. Marketers see baby boomers as one homogenous group.
D. Each generation is typically at the same socioeconomic level.
E. The most effective way to segment by age is to use birth date as the basis.
B. The company itself
A. Monitoring a competitor’s website is unethical.
B. The goal of competitive marketing intelligence is to improve strategic decision making.
C. Companies should not be concerned about competitor’s accessing publicly available information about them.
D. Marketing intelligence information is not available from the U.S. government.
E. Marketing intermediaries are not a good source of competitive marketing intelligence
A. Individual interview
B. Focus group interview
D. Ethnographic study
E. Immersion group
A. The company databases which store information
B. The marketing team that makes decisions based on customer insights
C. The hardware, software, and networks that are used in collecting and analyzing data
D. People and procedures that are used to manage information to generate and validate actionable customer and market insights
E. Data obtained from the Internet that is used to gain customer insights
A. Competitor’s internal
E. Publicly available
A. Marketing managers, information users, and internal databases
B. Internal databases, big data, and market research
C. Internal databases, marketing intelligence, and marketing research
D. Internal databases, marketing research, and marketing managers
E. Marketing intelligence, marketing research, and the marketing environment
A. Internal information sources are easy to manage.
B. They can be accessed quickly and cheaply.
C. The information stored in internal databases is always current.
D. Internal information is in a form that is useful for making marketing decisions.
E. Internal information is accurate and complete.
A. It is more expensive to conduct online research than using mail, phone, or personal interviews.
B. Online surveys generally have higher response rates than those conducted by mail or phone.
C. Experiments cannot be conducted online.
D. The Internet is especially well suited to qualitative research.
E. Online research is only feasible for large companies.
A. Report the findings.
B. Implement the plan.
C. Analyze the data
D. Collect the data
E. Develop the research plan.
A. Exploratory, descriptive, and causal
B. Exploratory, descriptive, and definitive
C. Exploratory, formal, and casual
D. Exploratory, causal, and experimental
E. Causal, experimental, and hypothetical
D. Relative advantage
B. Lagging adopters
C. Early adopters
D. Late mainstream
E. Early mainstream
A. Social network
C. Opinion leader
D. Membership group
E. Reference group
A. The nature of the product has no effect on the buyer decision process.
B. The buyer decision process consists of four stages.
C. Consumers may, in some situations, skip steps in the buyer decision process.
D. Consumers tend to take the same amount of time going through the stages of the buyer decision process.
E. Consumers go through all stages of the buyer decision process for every purchase situation.
A. Early adopters and the early mainstream
B. Early mainstream and the late mainstream
C. Innovators and the early mainstream
D. Innovators and early adopters
E. Early adopters and lagging adopters
A. High involvement and significant differences between brands
B. Low involvement and few differences between brands
C. Any buying situation with significant differences between brands
D. Low involvement and significant differences between brands
E. High involvement and few differences between brands
A. Consumers and the businesses who sell to them
B. Manufacturers, resellers, and consumers
C. Individuals and households that buy goods and services for personal consumption
D. Consumers and the resellers who consumers buy their products from
E. Consumers who spend more than $5,000 yearly on goods and services
A. Need recognition, information search, evaluation of alternatives, the purchase decision, and post-purchase behavior
B. Need recognition, the purchase decision, information search, evaluation of alternatives, and post-purchase behavior
C. Information search, need recognition, evaluation of alternatives, the purchase decision, and post-purchase behavior
D. Information search, evaluation of alternatives, need recognition, the purchase decision, and post-purchase behavior
E. Evaluation of alternatives, information search, need recognition, the purchase decision, and post-purchase behavior
A. Awareness, interest, trial, evaluation, adoption
B. Awareness, interest, evaluation, trial, adoption
C. Awareness, interest, trial, adoption, evaluation
D. Awareness, evaluation, interest, trial, adoption
E. Interest, awareness, evaluation, trial, adoption
A. In these types of purchases buyers see significant differences between brands.
B. In these types of purchases buyers search extensively for information.
C. In these types of purchases buyers are highly committed to one brand.
D. In these types of purchases buyers carefully weigh their choices.
E. In these types of purchases marketers often use price and sales promotion as incentives for purchase
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