question

Xavier is analyzing potential market segments. He knows he has to carefully seek potential customers who have both an interest in his products and:

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The ability to buy them

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a core aspect of marketing

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making product, place, promotion, and price decisions

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The fundamental goal of marketers when creating goods, services, or combinations of both, is to:

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Create Value

question

The basic difference between a good and a service is a good:

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can be physically touched

question

Marketing efforts designed to get the product or service to the right customer, when that customer wants it, are called:

answer

supply chain management.

question

The advent of auction sites like eBay has increased _______________ marketing.

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Customer to customer

question

Which of the following represents a way to build a sustainable competitive advantage using product excellence?

answer

Positioning the product using a clear, distinctive brand image.

question

When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged?

answer

planning

question

As part of her company's SWOT analysis, Valerie is assessing the company's internal environment, including:

answer

strengths and weaknesses.

question

when identifying and evaluating opportunities, STP refers to:

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segmentation, targeting, and positioning.

question

Most university bookstores take the price they paid for textbooks and add a standard markup, usually 25-35 percent. These university bookstores are using a _____________ pricing strategy.

answer

Cost-based

question

The centerpiece of the Marketing Environment Analysis Framework is:

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Consumers

question

denny is considering the question, "Did our actions have a negative impact on any stakeholder group?" Denny is addressing marketing ethical issues in the __________ phase of the strategic marketing planning process.

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Control

question

the firms that work along with the focal firm to provide goods and services to consumers are viewed as:

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Corporate partners

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Firms with strong ethical climates tend to:

answer

be more socially responsible.

question

Generational cohorts are groups of people of the same generation who have similar purchase behavior because they have:

answer

shared experiences and are in the same stage of life.

question

One of the criticisms of corporate social responsibility is the difficulty of demonstrating:

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tangible benefits to the company

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after a marketing firm has identified the various stakeholders and their issues and gathered the available data, all parties relevant to the decision should engage in brainstorming and evaluation of alternatives. _________________ then reviews and refines these alternatives, and then chooses a course of action.

answer

Management

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By paying close attention to customer needs and continuously monitoring the environment in which it operates, a good marketer can:

answer

identify potential opportunities

question

When marketers look at advertising media they often begin with viewer or listener profiles such as, age, income, gender, and race. They then compare the media profile with their target audience. These marketers are using _____________ to see if the media "fits" with their advertising agenda.

answer

demographics

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Marketers have learned that gender roles:

answer

have been blurred.

question

Mattel needed to act quickly when they learned of potential lead hazards in some of its toys. As a firm, they used ethical principles and approaches to:

answer

maintain its strong relationship with its customers by recalling products that posed dangers to children and their customers

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When targeting new markets, marketers of liquor, tobacco, and other alcoholic beverages should always ask the ethical issue question of:

answer

Should the firm be targeting this market with this product?

question

Firms use _______________ to collect, and synthesize information about their position with respect to their rivals.

answer

competitive intelligence

question

In New England foot-long sandwiches are called "grinders" while in many other parts of the country they are called "subs." This is an example of a:

answer

regional cultural difference.

question

For products like pencils and paperclips which provide the same benefit for all consumers, marketers should probably use a(n):

answer

undifferentiated segmentation strategy.

question

__________________ is an extreme form of a segmentation strategy.

answer

Micromarketing

question

lex has found that investment real estate buyers and residential real estate buyers both respond positively to his marketing communication message. Alex has identified ____________ that respond similarly to his marketing efforts.

answer

market segments

question

Differences in weather and climate create opportunities for:

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geographic segmentation.

question

NASCAR re-directed their marketing efforts when a survey indicated that almost fifty percent of their race fans were female. This is an example of ______________ segmentation.

answer

demographic

question

Travel marketers know Baby Boomers represent a huge demographic segment. They also know Baby Boomers are heavily motivated by self-fulfillment which creates the possibility of ______________ segmentation.

answer

psychographic

question

The beer commercial "less-filling, tastes great" was based on ______________ segmentation.

answer

benefit

question

Airlines were among the first retailers to embrace loyalty segmentation when they created:

answer

frequent flyer programs.

question

______________ involves defining the firm's marketing mix variables so that target customers have a clear, distinctive, and desirable understanding of the firm's offerings relative to competitors' offerings.

answer

Positioning

question

Whenever the president of the local, public university promotes the institution, he emphasizes the university's price (much lower than neighboring private colleges) and quality. He is positioning the institution based on:

answer

Value

question

Almost every political candidate uses a combination of red, white, and blue in their campaign posters. They are trying to position themselves in voters' minds using:

answer

Symbols

question

Several years ago, General Motors ran an advertising campaign for their Oldsmobile line of cars using the slogan, "Not your father's automobile" and an attractive young woman as spokesperson. GM was attempting to _______________ the Oldsmobile line.

answer

reposition

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A(n) _________________________ is a set of procedures and methods applied to the regular, planned collection, analysis, and presentation of information to be used in marketing decisions.

answer

marketing information system

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The difference between an MkIS and a market research study is, an MkIS:

answer

is an ongoing process of collecting, analyzing and presenting information.

question

Retail check out scanning systems create a tremendous amount of purchasing information usually stored in a company's:

answer

data warehouse.

question

When conducting a survey about choosing vacation destinations, Hillary will need to ______________________________, in order to get reluctant respondents to provide honest information.

answer

assure consumers that their individual responses will be kept confidential

question

Market research begins with:

answer

defining the objectives and research needs.

question

Company sales invoices, Census data, and trade association statistics are examples of:

answer

secondary data.

question

In retailing, effective packaging sends the message:

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Buy me

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The complete set of all products offered by a firm is called its product assortment or:

answer

product mix.

question

Within each __________________, there are often multiple product categories.

answer

product line

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A(n) ________________ is a name, symbol, design, or term that identifies a seller's good or service as distinct from those of other sellers.

answer

Brand

question

Colgate-Palmolive has five product lines. They are the firm's:

answer

product line breadth.

question

For a brand to be effective, it needs to be:

answer

easy for consumers to recognize and remember.

question

Brands that are owned by ___________ are called private-label brands.

answer

retailers

question

the process by which ideas are transformed into new products and services that will help firms grow.3

answer

Innovation

question

If they create new markets, pioneer or breakthrough products:

answer

can add tremendous value to firms

question

The process by which the use of a new product or service spreads throughout a market group is referred to as:

answer

diffusion of innovation.

question

The ________________ diffusion of innovation group is crucial because few new products can be profitable until this large group buys them.

answer

early majority

question

When microwaves were new, they often cost over $300, were huge, and full of numerous settings and options. Brenda and Bart waited, concerned about potential health hazards and for more choices in the market. By the time they purchased one, microwave sales had leveled off and prices had declined significantly. Brenda and Bart were part of the ____________________ diffusion of innovation group.

answer

late majority

question

By 2009, if someone asked for your cell phone number and you said you did not have one, you would probably have been considered a _________________ in the diffusion of innovation process.

answer

laggard

question

Samples are often used for new products when _________________ will influence the diffusion of the product.

answer

trialability

question

A service is any intangible offering that involves a deed, performance, or effort that:

answer

cannot be physically possessed.

question

By providing good customer service, firms __________ their products or services

answer

add value to

question

In countries like the United States, services:

answer

account for an increasing share of jobs.

question

When marketers state services are _____________, they are referring to the fact that services are produced and consumed at the same time.

answer

inseparable

question

When the management or owners of a service establishment have a different idea than the customers do about the expectations and service standards, the firm will likely have a ____________.

answer

standards gap

question

When there is a significant difference between the service customers receive and what the firm promotes, the firm has a ____________________.

answer

communications gap

question

A systematic ____________ program collects customer inputs and integrates them into managerial decisions.

answer

voice-of-customer

question

Price is the _______________________ a consumer is willing to make to acquire a specific product or service.

answer

overall sacrifice.

question

If a marketer prices their product too low, it may:

answer

signal poor quality

question

Unlike product, promotion, or place, price is the only part of the marketing mix

answer

that generates revenue.

question

Using "keystoning" as a pricing strategy:

answer

ignores consumers' sensitivity to changes in prices.

question

Bernard's firm has set corporate direction to become one of the leaders in each of its significant market segments. It was Bernard's job to examine the pricing to determine how to maximize market share, even at the expense of profits in the short run. What kind of company objective would guide Bernard's effort?

answer

Sales-oriented

question

Customers must see value in a product or service before they are willing to exchange their time or money to obtain it. Not all customers see the same value in a product, though, and to analyze how many units will be sold at any given point where the consumer sees value, marketers draw on ________________.

answer

a demand curve

question

_________________ measures consumers' sensitivity to price changes.

answer

Price elasticity of demand

question

supply chain management adds value for customers by:

answer

getting products to customers efficiently.

question

Stores like Home Depot and Costco act as wholesalers when they:

answer

sell to contractors or restaurant owners.

question

______________________ is an element of supply chain management that concentrates on the movement and control of the physical products.

answer

Logistics management

question

Manufacturers use wholesalers and retailers because:

answer

they create value through convenience and lower prices.

question

By reducing the number of transactions needed to move a product from the manufacturer to the consumer, wholesalers and retailers make a supply chain:

answer

more efficient.

question

Retailing is where marketing:

answer

meets the consumer

question

In the past, _____________________ dominated supply chains.

answer

manufacturers

question

Coupons, rebates, and online discounts are types of:

answer

pricing promotions.

question

Personal selling is particularly important for retailers selling:

answer

products that are complicated or expensive

question

______________________ is the term used to describe when retailers use some combination of stores, catalogs and the Internet to sell merchandise.

answer

Multichannel retailing

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