Marketing Pearson Questions – Flashcards
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What does a company do to start the strategic planning​ process?
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A. Analyze its competitors. B. Plan their marketing mix. C. Perform a cost analysis. D. Define its overall purpose and mission. E. Identify the needs and wants of their customers. D
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Mission statements should be defined in terms of satisfying basic customer needs. In other​ words, they should be​ __________.
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A. product oriented B. market oriented C. relationship oriented D. media oriented E. price oriented B
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After defining its​ mission, the next step in strategic planning is to​ __________.
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A. design the business portfolio B. set company objectives and goals C. plan marketing strategies D. allocate resources to each product that is being marketed E. identify key strategic business units B
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What is the overall focus of strategic​ planning?
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A. To ensure prices are lower than competitors B. To create a game plan for​ long-run survival and growth in consideration of changing marketing opportunities C. To define the​ company's mission D. To maximize profits E. To design a business portfolio B
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In portfolio​ analysis, a company must identify​ __________, which are key businesses that make up the company.
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A. functional departments B. strategic business units C. competitors D. potential future businesses E. marketing intermediaries B
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What are the two measurements used in the BCG matrix to classify strategic business​ units?
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A. Market growth​ rate; return on investment​ (ROI) B. Relative market​ share; number of products the company produces C. Relative market​ share; market growth rate D. Relative market​ share; return on investment​ (ROI) E. Market growth​ rate; degree of competitiveness C
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The BCG matrix classifies products which have a high market share in a low growth market as​ __________.
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A. cash stars B. stars C. dogs D. question marks E. cash cows E
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According to the​ growth-share matrix,​ __________ are​ high-share, high-growth products. When the market growth slows these products become​ __________.
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A. question​ marks; stars B. cash​ cows; dogs C. ​stars; cash cows D. question​ marks; cash cows E. cash​ cows; stars C
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Strategically, a company may phase out or sell an SBU. This is known as​ __________.
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A. building B. harvesting C. milking D. divesting E. holding D
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To grow​ sales, Under Armour increased its spending on advertising by 35 percent to increase sales in its current markets. Which growth strategy does this​ represent?
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A. Market development B. Divesting C. Diversification D. Market penetration E. Product development D
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When Under Armour expanded its current products into global​ markets, it was pursuing which growth​ strategy?
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A. Diversification B. Market development C. Product development D. Market penetration E. Divesting B
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When a firm starts up or buys a business outside of its current product line and​ markets, it is pursuing which growth​ strategy?
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A. Diversification B. Product development C. Market development D. Divesting E. Market penetration A
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One key role marketing plays in a​ company's strategic planning is to​ __________.
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A. allow other departments to not be concerned with marketing B. work to add customer value so other departments do not have to C. eliminate the need to coordinate marketing with other departments D. focus on the customer while other departments formulate strategies E. provide a guiding philosophy E
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To improve the performance of the​ __________, many companies today are partnering with other members of the supply chain —​ suppliers, ​distributors, and customers.
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A. internal value chain B. customer value delivery network C. strategic plan D. marketing system E. partner-relationship network B
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In which way does increasing customer satisfaction disrupt the internal value​ chain?
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A. It will gain commitment from the entire company to engage customers. B. It can increase production​ costs, increase​ inventories, and disrupt production schedules. C. It aligns all functional areas with the goal of increasing customer value. D. It will coordinate the efforts of different company departments to deliver customer value E. It makes all departments "think consumer". B
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What is the overall goal of marketing​ strategy?
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A. To develop the marketing mix B. To identify​ competitors, suppliers, and publics C. To create customer value and build profitable relationships D. To position and differentiate the product E. To segment the market and target specific segments C
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In determining which customers to​ serve, a company engages in which two marketing​ activities?
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A. Segmentation and targeting B. Segmentation and positioning C. Segmentation and differentiation D. Positioning and differentiation E. Targeting and positioning A
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Some​ retailers, such as the Dollar​ Store, Dollar​ Tree, and Family​ Dollar, profitably focus on buyers with modest means. This is an example of​ __________.
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A. market targeting B. packaging C. positioning D. the 4 Ps E. the marketing mix A
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What does a market segment consist​ of?
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A. A mental image of a product B. A group of consumers who respond to the marketing effort in the same way C. A group of competitors D. A group of similar products E. The 4 Ps B
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Effective positioning is based on​ __________.
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A. identifying groups of consumers with similar needs B. choosing which segments to profitably serve with a market offering C. market share D. differentiation E. eye level​ in-store shelf space D
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The four Ps of the marketing mix have been redefined in​ buyer's terms as the four As. Product design influences​ __________, price affects​ __________, place affects​ __________, and promotion influences​ __________.
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A. ​acceptability; affordability;​ awareness; accessibility B. affordability; accessibility;​ acceptability; awareness C. acceptability; affordability;​ accessibility; awareness D. awareness; affordability;​ accessibility; acceptability E. awareness; acceptability;​ affordability; accessibility C
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What are the main components of a marketing​ plan?
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A. An executive​ summary, situation​ analysis, objectives, marketing​ strategy, action​ programs, budgets and​ controls, and threats and opportunities B. Segmentation, targeting, positioning C. Product, price,​ place, promotion D. A mission​ statement, objectives, and a business portfolio E. The marketing budget and a marketing dashboard A
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Which of the following is not one of the five marketing management​ functions?
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A. Control B. Customer service C. Implementation D. Analysis E. Planning B
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The demand for organic produce is growing. Green Acres Farms grows only organic vegetables. In a SWOT​ analysis, the rising demand for organic produce would be​ a(n) __________ for Green Acres​ Farms, and the fact that they grow only organic vegetables is​ a(n) __________.
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A. strength; opportunity B. opportunity; strength C. opportunity; threat D. threat; strength E. opportunity; opportunity B
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Which of the following is a true statement regarding managing and measuring marketing return on investment​ (ROI)?
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A. Marketers are increasingly using measures such as customer acquisition and​ retention, customer​ engagement, and customer equity as measures of ROI. B. One measure of ROI is sales generated by investments in marketing activities. C. Marketers are increasingly using​ customer-centered measures of ROI which include brand​ awareness, sales, and market share. D. One reason ROI is used is because it is very easy to measure. E. There is a consistent definition of ROI used by marketers. A
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According to the​ text, it is important that a company design a competitive intelligence system that is​ __________.
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A. difficult to copy B. cost effective C. cutting edge D. wifi enabled E. easy to use B
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In the process of analyzing​ competitors, what should a company do next after identifying​ competitors?
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A. Assess them B. Attack them C. Ignore them D. React to them E. Avoid them A
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Which of the following statements regarding a customer intimacy strategy is​ correct?
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A. A customer intimacy strategy attempts to create a lean value delivery system. B. A customer intimacy strategy offers generic products to the target market. C. A customer intimacy strategy does not require market segmentation. D. A customer intimacy strategy requires quickly responding to customer needs. E. A customer intimacy strategy serves customers who demand a lower price. D
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Companies such as Walmart and Spirit Airlines offer lower prices than competitors. Which competitive strategy are they​ using?
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A. Price leadership B. Differentiation C. Focus D. Middle-of-the-road E. Overall cost leadership E
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According to the​ text, which customer and competitor orientation should​ company's today​ practice?
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A. Competitor-centered B. Customer-centered C. Product-centered D. Profit-centered E. Market-centered E
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​A(n) __________ is used to determine the benefits that target customers value and how customers rate the relative value of various​ competitors' offers.
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A. benchmark B. competitive intelligence system C. competitive analysis D. customer value analysis E. blue-ocean strategy D
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What is the first thing a company does when analyzing​ competitors?
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A. Select which competitors to avoid. B. Assess the​ competitor's objectives and strategies. C. Assess​ competitor's strengths and weaknesses. D. Select which competitors to attack. E. Identify the​ company's competitors. E
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Which of the following strategies would be utilized by a market​ challenger?
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A. Expand total demand. B. Expand their market share further. C. Observe what has made the market leader successful and improve on it. D. Find one or more market niches that are safe and profitable. E. Protect their current market share through good defensive and offensive actions. C
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Regarding their competitive​ position, Walmart,​ Amazon, Coca-Cola, and Facebook are all examples of​ __________.
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A. market nichers B. market challengers C. market leaders D. well-known companies E. global firms C
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What is a strategic​ group?
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A. A group of firms in an industry that do not compete with one another B. A group of firms in an industry following the same or a similar strategy in a given target market C. A group of firms in an industry that target different markets with different strategies D. A group of firms in different industries that follow similar strategies E. A group of firms in an industry following different strategies B
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Which of the following statements about new product development strategy is​ correct?
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A. Innovation can be very expensive and very risky. B. New products are not a key source of growth for companies. C. A new product will succeed as long as it priced correctly. D. Developing new products is optional for companies with established brands. E. New products are usually successful because consumers like new things A
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Which of the following statements is true regarding standardizing products for international​ markets?
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A. Standardization means that marketers do not have to adapt their product offerings for different international markets. B. Standardization helps a company develop a different image in different countries. C. Markets and consumers all over the world are​ alike, so a company should always standardize international products. D. Standardization decreases product​ design, manufacturing, and marketing costs. E. Standardization ensures that products will succeed in foreign markets. D
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According to the​ text, the most successful new products satisfy three criteria. What are these​ criteria?
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A. They solve a major customer​ problem, are​ differentiated, and offer a compelling value proposition. B. They are​ differentiated, copy successful competitor​ products, and are priced low. C. They appeal to a wide variety of​ consumers, are priced​ low, and can be mass marketed. D. They solve a major customer​ problem, are​ differentiated, and are priced low. E. They are something that has never been seen​ before, are priced​ low, and are offered on a limited basis. A
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At which stage of the new product development process is a physical product first​ developed?
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A. Concept development and testing B. Idea generation C. Product development D. Marketing strategy development E. Test marketing C
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A firm improves product quality and adds new product features and models. It also shifts some advertising from building product awareness to building product conviction and purchase. At which stage of the product life cycle would this be a recommended​ strategy?
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A. Decline B. Growth C. Maturity D. Product development E. Introduction B
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Which of the following statements regarding socially responsible product decisions is​ correct?
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A. Safety legislation has not yet been passed to regulate​ toys, automobiles, and fabrics. B. When companies drop​ products, they do not have any obligations to​ suppliers, dealers, and customers. C. The government may prevent companies from adding products through acquisitions if the effect threatens to lessen competition. D. Companies can safely ignore patent laws. E. Manufacturers are generally not concerned with product liability. C
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What is a product​ concept?
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A. The image of a new product in​ consumer's minds B. A working model of a new product C. A detailed version of a new product idea stated in meaningful consumer terms D. A new product which is ready to be test marketed E. An idea for a new product C
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Companies should take a holistic approach to new product development. This means that the process should be​ __________.
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A. customer-centered, compartmentalized, and systematic B. compartmentalized, sequential, and​ company-centered C. compartmentalized, team-based, and​ company-centered D. customer-centered, team-based, and haphazard E. customer-centered, team-based, and systematic E
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When Dr. Footcare developed and launched a revolutionary new walking​ shoe, he knew that during the introductory stage of the product life cycle​ (PLC) __________.
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A. sales would fall and profits would drop B. profits would rise quickly and there would be rapid market acceptance of the product C. sales would be slow and profits nonexistent D. sales would be slow but profits would be high E. sales would be high and profits would level off or decline C
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One recent development in generating new product ideas is for a company to invite broad communities of people —such as​ employees, customers, and even the public at — into the innovation process. This is known as​ __________.
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A. crowdfunding B. test marketing C. intrapreneurial idea generation D. concept testing E. crowdsourcing E
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Mothers Against Drunk Driving​ (MADD) runs advertising campaigns aimed at stopping drunk driving and preventing underage drinking. This is an example of​ __________.
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A. organization marketing B. corporate image marketing C. place marketing D. social marketing E. person marketing D
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If a company adds a new product line to its existing​ portfolio, it has increased its​ __________.
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A. product line length B. product mix width C. product mix depth D. product support services E. product mix consistency B
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To create and capture customer​ value, companies must engage the first step of the marketing​ process, which is​ __________.
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A. construct an integrated marketing program B. design a customer​ value-driven marketing strategy C. build profitable customer relationships D. understand the marketplace and customer needs and wants E. create customer delight D
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Marketing was once understood in the sense of making a sale.​ Today, marketing is understood in the new sense of​ __________.
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A. telling customers what they need B. not engaging customers C. eliminating promotion D. satisfying customer needs E. developing innovative products. D
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The key element of successful marketing today is to​ __________.
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A. run frequent promotions B. create value C. advertise on television D. develop​ one-of-a-kind products E. offer low prices B
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What is the final step in the marketing​ process?
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A. Understand customer needs. B. Develop a customer​ value-driven strategy. C. Construct an integrated marketing program. D. Engage customers. E. Capture value from customers. E
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Engaging customers and managing profitable customer relationships is the simplest definition of​ ________.
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A. value B. a market C. advertising D. marketing E. satisfaction D
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You are thirsty and decide to have an iced tea. Your thirst is a​ ________ and your choice of iced tea is a​ ________.
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A. need; want B. need; demand C. want; need D. want; demand E. demand; want A
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Which of the following correctly identifies the five core customer and marketplace​ concepts?
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A. (1) Needs​, wants​, and demands​; ​(2) Market​ offerings; (3)​ Value; (4) Satisfaction​; and ​(5) Markets B. (1) Needs; ​(2) Wants; ​(3) Demands​; ​(4) Market​ offerings; and ​(5) Markets C. (1) Needs​, wants​, and demands​; ​(2) Products;​ (3) Value;​ (4) Customers; and​ (5) Competitors D. (1) Needs​, wants​, and demands​; ​(2) Market​ offerings; (3) Value and satisfaction​; ​(4) Competitors​; and​ (5) Profits E. (1) Needs, wants​, and demands​; ​(2) Market​ offerings; (3) Value and satisfaction​; ​(4) Exchanges and relationships​; and ​(5) Markets E
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The primary goal of consistently delivering superior value is to​ ________.
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A. keep costs down B. maximize profits C. expand into global markets D. avoid the need to advertise E. build profitable customer relationships E
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In marketing​ terms, what is a​ market?
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A. A retail establishment B. All sellers of a product or service C. The set of actual and potential buyers of a product or service D. The products that are sold to customers E. A​ company's current customers C
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Market offerings include​ ________.
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A. needs, wants, and demands B. ​products, services, and exchanges C. value, satisfaction, and markets D. demands, exchanges, and relationships E. products, services, and experiences E
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The actual and potential buyers in a market share which of the following​ characteristics?
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A. They share a particular need​ and/or want. B. They have little influence over marketers. C. They do not engage in marketing. D. They are not affected by environmental forces. E. They have the same demographic profile. A
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The first step to a successful​ value-driven marketing strategy is to determine whom to serve with a market offering. To make this​ decision, marketers engage in which two​ activities?
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A. Targeting and positioning B. Segmenting and targeting C. Segmenting and demand management D. Segmenting and positioning E. Customer management and demand management B
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What is the purpose of a value​ proposition?
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A. To determine whom a company will serve with its market offerings. B. To determine the prices a company will charge for its products C. To balance customer management with demand management D. To differentiate and position a market offering in the marketplace E. To define the target market D
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Which marketing orientation states that consumers will favor products that offer the most in​ quality, performance, and innovative​ features?
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A. The product concept B. The marketing concept C. The selling concept D. The societal marketing concept E. The production concept A
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Which of the following uses a​ sense-and-respond philosophy to promote a​ customer-centered marketing​ orientation?
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A. The societal marketing concept B. The product concept C. The production concept D. The marketing concept E. The selling concept D
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Companies such​ as IBM, Walmart, and Google now look beyond economic gain​ and, in their marketing​ strategies, they also consider the​ well-being of​ customers, the depletion of natural​ resources, the viability of​ suppliers, and the interests of the local community. This reflects which marketing​ philosophy?
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A. The selling concept B. The marketing concept C. The product concept D. The societal marketing concept E. The production concept D
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What are the 4 Ps of​ marketing?
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A. Product, people,​ price, promotion B. ​Product, price,​ place, promotion C. ​Product, promotion,​ price, packaging D. ​Product, price,​ promotion, profit E. Product, price,​ people, packaging B
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What is the key to building lasting customer​ relationships?
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A. Offering everyday low prices B. Creating unique products that competitors do not offer C. Selling products at a discount D. Marketing on the web E. Creating superior customer value and satisfaction E
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__________ is the​ customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers.
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A. Satisfaction B. Exchange C. Demand D. Customer-perceived value E. Objective value D
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Which of the following is an accurate statement about building customer relationships in the modern marketing​ era?
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A. Building relationships through​ consumer-generated content is expensive and takes time. B. Digital technologies and social media have had little impact on relationship building. C. New digital and social media relationship tools are a fad which marketers can safely ignore. D. Digital technologies and social media have caused a decline in​ customer-engagement marketing. E. Customers have no role in managing relationships and creating personal brand experiences. A
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The total combined lifetime value of a​ company's current and potential customers is called​ __________.
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A. share of customer B. customer loyalty C. market share D. customer retention E. customer equity E
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For which customer relationship group should a company make continuous relationship investments to​ delight, engage,​ retain, and grow​ them?
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A. True friends B. Barnacles C. Strangers D. True believers E. Butterflies A
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How has the Great Recession of 2008 - 2009 affected marketers in terms of consumer​ attitudes?
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A. Consumers are showing an enthusiasm for frugality. B. Consumers are less concerned with value for the dollar. C. Consumers are less willing to save their money. D. Consumers are moving from mindful to mindless spending. E. Consumers' attitudes have not been affected by the recession. A
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Which of the following statements regarding individual product decisions is​ correct?
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A. Customer service is an important element of product strategy. B. Consumers see branding as separate from the product. C. Quality is important but it is not used to position products. D. Product design and product style mean the same thing. E. The sole function of packaging is to hold and protect a product. A
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Furniture, major​ appliances, clothing, and hotel services are classified as​ __________ products.
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A. unsought B. specialty C. industrial D. shopping E. convenience D
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Typically, consumers put in minimum time and effort when buying products such as laundry​ detergent, candy, and fast food. These types of goods are classified as​ __________ products.
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A. convenience B. augmented C. specialty D. unsought E. shopping A
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Services cannot be​ seen, tasted,​ felt, heard, or smelled before they are bought. In other​ words, services are​ __________.
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A. variable B. inseparable C. tangible D. perishable E. intangible E
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One characteristic of services is their variability. What is the main reason for services being​ variable?
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A. Services cannot be​ seen, tasted, or felt before they are bought. B. Services cannot be stored for later use. C. Service quality depends on who provides​ them, as well as​ when, where, and how they are provided. D. Services are​ tangible, and defects are impossible to prevent. E. Services cannot be separated from their providers. C
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Service quality greatly depends on the quality of the buyer - seller interaction during the service encounter. This is known as​ __________.
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A. external marketing B. internal marketing C. image differentiation D. the service profit chain E. interactive marketing E
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Charles​ Revson, who started​ Revlon, once said​ "We sell​ hope." Revson was defining the​ __________ of Revlon cosmetics.
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A. quality level B. design C. branding D. core customer value E. augmented product D
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According to the​ text, what are the three levels on which brands can be​ positioned?
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A. Brand​ equity, brand​ value, and brand sponsorship B. Product​ attributes, desirable​ benefits, and brand equity C. Product​ attributes, price, and packaging D. Product​ attributes, desirable​ benefits, and beliefs and values E. Quality, features, and desirable benefits D
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Fitbit makes health and fitness tracking devices. Some buyers want very basic fitness tracking such as steps taken and calories consumed. Others are focused on high performance and want heart rate and sleep​ monitoring, text​ notification, and wireless sync to their smart phone. In serving these two very different​ groups, Fitbit is using​ __________ segmentation.
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A. ​life-cycle stage B. personality C. benefits sought D. usage rate E. demographic C
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Which targeting strategy focuses on common consumer​ needs, as opposed to different​ needs?
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A. Local marketing B. Mass marketing C. Concentrated marketing D. Differentiated marketing E. Individual marketing B
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Psychographic segmentation divides buyers into different segments based on​ __________.
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A. lifestyle and personality B. lifestyle and geography C. lifestyle and income D. personality and income E. age and​ life-cycle stage A
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A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your​ colleague?
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A. A segment is attractive if there are substitute products available. B. If there are powerful buyers in the segment it will drive prices up. C. If a segment is larger than others it should always be targeted. D. Fast growing segments are always attractive. E. Carefully consider the degree of competition and ease of entry into the segment. E
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If men and women respond similarly to the same marketing​ mix, they do not constitute​ distinct, identifiable segments. Gender would not be an effective base for segmentation in this example because the segments are not​ __________.
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A. actionable B. differentiable C. accessible D. measurable E. substantial B
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What are perceptual positioning maps used​ for?
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A. To show consumer perceptions of an individual brand on important buying dimensions B. To show consumer perceptions of different brands on a single product dimension C. To compare a​ company's profitability with the profitability of competitors D. To find the best retail locations for a brand E. To show consumer perceptions of different brands on important product dimensions E
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Which value proposition is the most difficult to sustain in the long​ run?
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A. The same for less B. More for more C. More for the same D. More for less E. Less for much less D
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Which of the following statements about segmentation is​ true?
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A. Different segments might require different marketing strategies or mixes. B. Most companies today mass market and do not segment their markets. C. Segmentation identifies individual buyers that can be targeted with a market offering. D. Buyers within a market segment have different​ needs, characteristics, and behaviors. E. Market segmentation is part of a​ company's value proposition. A
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There is a growing segment of people who want food that tastes good and is also good for them. This​ healthy-living segment represents which segmentation​ base?
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A. Gender B. Usage rate C. Age D. Lifestyle E. Geography D
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What is the overall purpose of​ differentiation?
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A. To allow a firm to offer the lowest prices B. To divide the market into smaller groups of buyers C. To market high quality products D. To create superior customer value E. To select the segment or segments to enter D
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Age, personality, buying​ style, and job position are​ __________ factors that can influence the business buying decision process.
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A. cultural B. organizational C. economic D. individual E. interpersonal D
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The​ __________ consists of all the people who are involved in an organizational buying decision.
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A. buying center B. purchasing network C. buying network D. purchasing unit E. purchasing department A
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Which of the following correctly defines the institutional​ market?
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A. Manufacturers of consumer goods and services B. The buying centers within organizations that make buying decisions C. All purchases made by the government D. Resellers such as retailers and wholesalers E. Organizations that provide goods and services to people in their care E
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One problem with​ business-to-business e-procurement is that it​ __________.
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A. can erode​ long-standing customer-supplier relationships B. increases transaction costs C. reduces purchasing efficiency D. increases paperwork requirements E. increases the time between order and delivery A
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Business-to-business marketers will sometimes promote their goods directly to consumers. This is because business demand is​ __________.
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A. elastic B. unrelated to demand for consumer goods C. derived D. the same as consumer demand E. constant C
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Which of the following statements about the use of digital and social media for​ B-to-B marketing is​ correct?
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A. It is growing slowly because business buyers are only occasionally connected to digital devices. B. It is growing rapidly but offers limited ways to engage customers compared to​ face-to-face selling. C. It is a very important medium but its use is currently limited to a small number of industries. D. It reduces customer engagement and interaction. E. It allows businesses to target individuals within a business who affect buying decisions. D
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Which of the following is a​ business-to-business market​ transaction?
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A. The U.S. government buying supplies for military personnel B. A hospital buying medical supplies C. A family vacationing at Disneyland D. A person buying their weekly groceries E. A grocery store buying cereal from​ Kellogg's E
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Which of the following statements regarding the U.S. government market is​ correct?
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A. The U.S. government market is not affected by environmental factors. B. Government buying is not scrutinized by outside publics. C. The U.S. government is the largest buyer of goods and services in the world. D. The government tends to favor foreign suppliers over domestic suppliers. E. Selling to the U.S. government requires no specific knowledge of that market. C
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A University is buying new overhead projectors for its classrooms. The​ University's Information Technology Department has been asked to provide specifications and recommendations for this purchase. The IT Department is playing which role in the​ University's buying​ center?
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A. User B. Buyer C. Gatekeeper D. Influencer E. Decider D
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The first stage of the business buying decision process is problem recognition. What is the second​ stage?
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A. Proposal solicitation B. Product specification C. General need description D. Supplier search E. Supplier selection C
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Which of the following statements is true regarding public policy and government​ regulation?
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A. Government regulation has no impact on international marketing. B. Legislation affecting business around the world has increased steadily over the years. C. Marketers can safely ignore government laws and regulation because they are rarely enforced. D. Government regulation does not get involved in how companies compete with one another. E. When public policy is​ developed, the government does not consider what is good for​ society; it focuses only on business. B
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One new technology marketers are adopting is radio frequency identification​ (RFID). What does this technology​ do?
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A. Scans barcodes at point of purchase B. Allows SmartPhones to send and receive text C. Tracks products and customers at various points in the distribution channel D. Weighs products at the point of purchase E. Identifies spam email before it is received C
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Which of the following statements regarding the current demographic environment is​ correct?
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A. There are few differences between different generational groups. B. The combined size of the Millennials and Gen Z has resulted in the U.S. population getting younger. C. The ethnic diversity of the U.S. population should remain stable in the years to come. D. The LGBT community is not an attractive target for marketers. E. The U.S. population is rapidly getting older. E
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Demography studies statistics that include​ __________.
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A. age, gender, government​ regulation, and race B. age, gender,​ race, and occupation C. age, race, income​ distribution, and lifestyle D. the​ economy, technology,​ family, and age structure of the population E. population​ size, density, income​ distribution, and culture B
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Companies who passively accept the marketing environment​ __________.
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A. form contractual agreements to control their distribution channels B. assume that their strategic options are not bound by the current environment C. view it as uncontrollable and do not attempt to change it D. use lobbying to influence legislation E. develop strategies to change the environment C
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Ford offers a wide variety of cars that range from around​ $14,000 to more than​ $54,000. This reflects which economic​ factor?
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A. Income level B. Tax rates C. Interest rates D. Cost of living E. Income distribution E
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In the United​ States, patriotism has been increasing for the past 20 years. Marketers have responded with increased use of the​ "Made in​ America" appeal and patriotic themes. This reflects which aspect of​ culture?
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A. People's views toward society B. People's views of nature C. People's views of others D. People's views of themselves E. People's views of organizations A
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Socially and environmentally responsible actions that meet both the immediate and future needs of customers and the company is the central principle of​ __________.
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A. strategic planning B. societal marketing C. profitability D. sustainable marketing E. the marketing concept D
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Because not all managers have fine moral​ sensitivity, companies should​ __________.
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A. hire more ethically sensitive managers B. leave ethical decisions up to workers C. let upper level managers handle all ethical decisions D. rely on legalities to resolve ethical decisions. E. develop corporate marketing ethics policies E
question
Following the principle of​ __________, a company makes marketing decisions by considering​ consumers' wants, the​ company's requirements,​ consumers' long-run​ interests, and​ society's long-run interests.
answer
A. consumer-oriented marketing B. societal marketing C. innovative marketing D. ​sense-of-mission marketing E. customer value marketing B
question
What is​ redlining?
answer
A. The failure of large retailers to put stores in disadvantaged areas B. Setting an artificially high price for a line of products C. The point at which marketers cross the line and use deception in any practice D. Selling unsafe products E. The target sales goal for high pressure selling A
question
According to the​ text, the issue of ethics presents special challenges for​ __________.
answer
A. service providers B. domestic marketers C. small businesses D. international marketers E. ​not-for-profit organizations D
question
What is the purpose of​ high-pressure selling?
answer
A. To ensure the customer gets good value from their purchase B. To sell customers goods that precisely fit their needs C. To persuade people to buy goods they had no thought of buying D. To sell goods which are overstocked in inventory E. To convince customers to buy goods that are not on sale C
question
According to the​ text, the move from irresponsible consumption to sustainable consumption is ultimately the responsibility of​ __________.
answer
A. marketers B. consumers C. businesses D. the government E. consumer protection agencies B
question
Many critics charge that the American marketing system causes prices to be higher than they would be under more​ "sensible" systems. What are the three factors that critics say cause these inflated​ prices?
answer
A. High costs of product​ development, high costs of advertising and​ promotion, and excessive markups B. High costs of​ distribution, high costs of product​ development, and excessive markups C. High costs of​ distribution, high costs of advertising and​ promotion, and deceptive pricing D. High costs of​ distribution, high costs of advertising and​ promotion, and excessive markups E. High costs of​ distribution, high costs of advertising and​ promotion, and high costs of product development D
question
__________ requires that the company continually seek real product and marketing improvements.
answer
A. Consumer-oriented marketing B. ​Sense-of-mission marketing C. Customer value marketing D. Innovative marketing E. Societal marketing D
question
The sustainable marketing concept focuses on​ __________.
answer
A. the future needs of business and the future needs of consumers B. the future needs of business and the current needs of consumers C. the current needs of business and the current needs of consumers D. the environment E. the current needs of business and the future needs of consumers A
