Flashcards and Answers – Marketing Final Multiple Choice
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The future growth of a company is endangered when management...
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c. is committed to maintaining a product-oriented philosophy
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A marketing philosophy summarized by the phrase 'a good product will sell itself" is characteristic of the
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a. production era
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A strong market orientation
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d. generally improves market success and overall performance
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If a company such as JB Trucking wanted to avoid marketing myopia it should define its business as
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a. transportation solutions
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An alliance between a not-for-profit organization and a for-profit organization
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b. often benefits both parties
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You receive a flyer urging you to attend a rally for a local political candidate. You're asked to bring a can of food for the local food bank as the "price of admission". This is a combination of ______ and _______ marketing respectively.
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d. person and cause
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Many hotels chains offer free stays and other perks to repeat customers. This is an example of ______
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a. relationship marketing
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An example of interactive media marketing would be
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c. buyer-seller communication through the Internet, virtual reality kiosks and CD-ROMs
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By converting indifferent customer into loyal ones through relationship marketing, companies can
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d. generate repeat sales
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A biotechnology company and a university medical school work to develop a new drug to treat arthritis. This is an example of _____
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d. strategic alliance
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The process of anticipating future events and conditions and determining the best way to achieve organizational objectives is known as...
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b. planning
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Relationship marketing can help a company....
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a. create long-term, cost effective links with individual customer for mutual benefit
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Long term plans focusing on those organizational objectives that will significantly affect the firm for five or more years are usually referred to as ________ plans
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a. strategic
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Compared with other organization personnel, more time is devoted to long-range strategic planning by....
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c. top management
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The planning process begins with
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a. writing the mission statement
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All planning strategies have the goal of creating
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a. sustainable competitive advantage
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Comparing a first-mover to a second mover strategy, a first-mover strategy is ______ risky and offers a _______ reward
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a. more; higher
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Assume a firm would like to expand its product line. A complete expansion would cost $100 million but the firm can only raise 475 million in financing. This is best classified as a...
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a. constraint
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Southwest Airlines has one of the lowest levels of operating expenses in the airline industry. This is classified as a...
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c. strength
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All of the following are marketing mix variables except a. promotion b. product c. process d. pricing
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c. process
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Which of the following terms best fits the activity of promotion? a. Making products available b. Finding a convenient location c. Maintaining a high level of regulation d. Communicating between buyers and sellers
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d. Communicating between buyers and sellers
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According to the market share/market growth matrix, a successful product typically...
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a. begins as a question mark, becomes a star and eventually moves to the status of cash cow
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The process of collecting information about the external marketing environment is called...
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d. environmental scanning
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A firm that works with the Food and Drug Administration to create new regulations is practicing...
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d. environmental management
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To acquire regional expertise and comply with local laws in the global market many domestic firms have found it desirable to...
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c. form strategic alliances with companies in foreign countries
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In what industry might there still remain a monopoly in certain geographic locations?
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b. Cable TV provider
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alliances are considered essential in a country where...
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b. laws require foreign firms doing business there to work with local companies
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Which strategy requires developing and distributing goods and service more quickly than competitors?
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a. time based competition
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During which phase in the business cycle do marketers consider lowering prices and increasing promotions that include special offers to stimulate demand?
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b. recession
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The process of reducing consumer demand for a product to a level that the firm can reasonably supply is called....
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d. demarketing
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Which of the following protects the consumer by exerting legal, moral and economic pressures on business?
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a. consumerism
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Consumer behavior refers to...
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d. the consumer decision-making process
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The interpersonal influences on consumer behavior include a person's
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c. family
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Cultural difference are particularly important for...
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a. firms marketing internationally
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When spouses independently make equal numbers of decisions about the purchases of products, they are said to be acting...
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c. authonomic
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The needs for fulfillment realizing one's own potential and dully using one's talents and capabilities are example of _______ needs
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a. self- actualization
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Joining a local bowling league for social interaction is an attempt to meet _____ needs
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b. belongingness
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Which of the following product purchases would most likely require a high-involvement decision?
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c. car
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at which stage of the consumer decision-making process might cognitive dissonance occur?
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d. post purchase evaluation
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In order for a marketer to operate efficiently in a foreign country, it is crucial that a stable _____ be in place to facilitate trade
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c. infastructure
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______ is the most frequent spoken language in the world
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c. Mandarin Chinese
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A complete ban on the import of a product is known as an...
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b. embargo
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The goal if the EU is
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c. removal of all barriers to free trade among its members
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The first toward successful global marketing is to
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a. prepare an international business plan
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A multi-domestic marketing strategy indicates that a firm
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a. customizes its marketing decisions to effectively reach individual marektplaces
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Which of the following need not be considered in making an international distribution decision?
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a. precisely duplicating domestic distribution strategies
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Business products may be identified as...
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a. goods and services purchased for use either directly or indirectly in the production of other goods and service for resale
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The lumber a carpenter purchases to finish out a basement is known as a...
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b. business product
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Generally speaking rubber and steel are example of
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a. business products
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The most common method of market segmentation is
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b. demographic segmentation
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In terms of numbers, which age group is the largest?
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a. Baby Boomers
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Compared with US household in general, spending by Hispanic households is
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a. growing faster
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The family life cycle...
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b. refers to the process of family formation and dissolution
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Psychographic segmentation is based on...
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d. grouping people according to their psychological characteristics, values and lifestyles
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What interactive medium might help micro marketers boost the effectiveness of their strategy by tracking specific demographics ad communicating directly to individuals who are most likely to buy that product
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b. Internet
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A marketer may change segmentation strategy...
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b. as the product progresses through the stages of the product life cycle
