Marketing Pearson Questions – Flashcards
Unlock all answers in this set
Unlock answersquestion
What does a company do to start the strategic planning process?
answer
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
question
Mission statements should be defined in terms of satisfying basic customer needs. In other words, they should be __________.
answer
A. product oriented B. market oriented C. relationship oriented D. media oriented E. price oriented B
question
After defining its mission, the next step in strategic planning is to __________.
answer
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
question
What is the overall focus of strategic planning?
answer
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
question
In portfolio analysis, a company must identify __________, which are key businesses that make up the company.
answer
A. functional departments B. strategic business units C. competitors D. potential future businesses E. marketing intermediaries B
question
What are the two measurements used in the BCG matrix to classify strategic business units?
answer
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
question
The BCG matrix classifies products which have a high market share in a low growth market as __________.
answer
A. cash stars B. stars C. dogs D. question marks E. cash cows E
question
According to the growth-share matrix, __________ are high-share, high-growth products. When the market growth slows these products become __________.
answer
A. question marks; stars B. cash cows; dogs C. stars; cash cows D. question marks; cash cows E. cash cows; stars C
question
Strategically, a company may phase out or sell an SBU. This is known as __________.
answer
A. building B. harvesting C. milking D. divesting E. holding D
question
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?
answer
A. Market development B. Divesting C. Diversification D. Market penetration E. Product development D
question
When Under Armour expanded its current products into global markets, it was pursuing which growth strategy?
answer
A. Diversification B. Market development C. Product development D. Market penetration E. Divesting B
question
When a firm starts up or buys a business outside of its current product line and markets, it is pursuing which growth strategy?
answer
A. Diversification B. Product development C. Market development D. Divesting E. Market penetration A
question
One key role marketing plays in a company's strategic planning is to __________.
answer
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
question
To improve the performance of the __________, many companies today are partnering with other members of the supply chain — suppliers, distributors, and customers.
answer
A. internal value chain B. customer value delivery network C. strategic plan D. marketing system E. partner-relationship network B
question
In which way does increasing customer satisfaction disrupt the internal value chain?
answer
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
question
What is the overall goal of marketing strategy?
answer
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
question
In determining which customers to serve, a company engages in which two marketing activities?
answer
A. Segmentation and targeting B. Segmentation and positioning C. Segmentation and differentiation D. Positioning and differentiation E. Targeting and positioning A
question
Some retailers, such as the Dollar Store, Dollar Tree, and Family Dollar, profitably focus on buyers with modest means. This is an example of __________.
answer
A. market targeting B. packaging C. positioning D. the 4 Ps E. the marketing mix A
question
What does a market segment consist of?
answer
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
question
Effective positioning is based on __________.
answer
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
question
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 __________.
answer
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
question
What are the main components of a marketing plan?
answer
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
question
Which of the following is not one of the five marketing management functions?
answer
A. Control B. Customer service C. Implementation D. Analysis E. Planning B
question
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) __________.
answer
A. strength; opportunity B. opportunity; strength C. opportunity; threat D. threat; strength E. opportunity; opportunity B
question
Which of the following is a true statement regarding managing and measuring marketing return on investment (ROI)?
answer
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
question
According to the text, it is important that a company design a competitive intelligence system that is __________.
answer
A. difficult to copy B. cost effective C. cutting edge D. wifi enabled E. easy to use B
question
In the process of analyzing competitors, what should a company do next after identifying competitors?
answer
A. Assess them B. Attack them C. Ignore them D. React to them E. Avoid them A
question
Which of the following statements regarding a customer intimacy strategy is correct?
answer
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
question
Companies such as Walmart and Spirit Airlines offer lower prices than competitors. Which competitive strategy are they using?
answer
A. Price leadership B. Differentiation C. Focus D. Middle-of-the-road E. Overall cost leadership E
question
According to the text, which customer and competitor orientation should company's today practice?
answer
A. Competitor-centered B. Customer-centered C. Product-centered D. Profit-centered E. Market-centered E
question
A(n) __________ is used to determine the benefits that target customers value and how customers rate the relative value of various competitors' offers.
answer
A. benchmark B. competitive intelligence system C. competitive analysis D. customer value analysis E. blue-ocean strategy D
question
What is the first thing a company does when analyzing competitors?
answer
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
question
Which of the following strategies would be utilized by a market challenger?
answer
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
question
Regarding their competitive position, Walmart, Amazon, Coca-Cola, and Facebook are all examples of __________.
answer
A. market nichers B. market challengers C. market leaders D. well-known companies E. global firms C
question
What is a strategic group?
answer
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
question
Which of the following statements about new product development strategy is correct?
answer
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
question
Which of the following statements is true regarding standardizing products for international markets?
answer
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
question
According to the text, the most successful new products satisfy three criteria. What are these criteria?
answer
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
question
At which stage of the new product development process is a physical product first developed?
answer
A. Concept development and testing B. Idea generation C. Product development D. Marketing strategy development E. Test marketing C
question
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?
answer
A. Decline B. Growth C. Maturity D. Product development E. Introduction B
question
Which of the following statements regarding socially responsible product decisions is correct?
answer
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
question
What is a product concept?
answer
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
question
Companies should take a holistic approach to new product development. This means that the process should be __________.
answer
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
question
When Dr. Footcare developed and launched a revolutionary new walking shoe, he knew that during the introductory stage of the product life cycle (PLC) __________.
answer
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
question
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 __________.
answer
A. crowdfunding B. test marketing C. intrapreneurial idea generation D. concept testing E. crowdsourcing E
question
Mothers Against Drunk Driving (MADD) runs advertising campaigns aimed at stopping drunk driving and preventing underage drinking. This is an example of __________.
answer
A. organization marketing B. corporate image marketing C. place marketing D. social marketing E. person marketing D
question
If a company adds a new product line to its existing portfolio, it has increased its __________.
answer
A. product line length B. product mix width C. product mix depth D. product support services E. product mix consistency B
question
To create and capture customer value, companies must engage the first step of the marketing process, which is __________.
answer
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
question
Marketing was once understood in the sense of making a sale. Today, marketing is understood in the new sense of __________.
answer
A. telling customers what they need B. not engaging customers C. eliminating promotion D. satisfying customer needs E. developing innovative products. D
question
The key element of successful marketing today is to __________.
answer
A. run frequent promotions B. create value C. advertise on television D. develop one-of-a-kind products E. offer low prices B
question
What is the final step in the marketing process?
answer
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
question
Engaging customers and managing profitable customer relationships is the simplest definition of ________.
answer
A. value B. a market C. advertising D. marketing E. satisfaction D
question
You are thirsty and decide to have an iced tea. Your thirst is a ________ and your choice of iced tea is a ________.
answer
A. need; want B. need; demand C. want; need D. want; demand E. demand; want A
question
Which of the following correctly identifies the five core customer and marketplace concepts?
answer
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
question
The primary goal of consistently delivering superior value is to ________.
answer
A. keep costs down B. maximize profits C. expand into global markets D. avoid the need to advertise E. build profitable customer relationships E
question
In marketing terms, what is a market?
answer
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
question
Market offerings include ________.
answer
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
question
The actual and potential buyers in a market share which of the following characteristics?
answer
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
question
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?
answer
A. Targeting and positioning B. Segmenting and targeting C. Segmenting and demand management D. Segmenting and positioning E. Customer management and demand management B
question
What is the purpose of a value proposition?
answer
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
question
Which marketing orientation states that consumers will favor products that offer the most in quality, performance, and innovative features?
answer
A. The product concept B. The marketing concept C. The selling concept D. The societal marketing concept E. The production concept A
question
Which of the following uses a sense-and-respond philosophy to promote a customer-centered marketing orientation?
answer
A. The societal marketing concept B. The product concept C. The production concept D. The marketing concept E. The selling concept D
question
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?
answer
A. The selling concept B. The marketing concept C. The product concept D. The societal marketing concept E. The production concept D
question
What are the 4 Ps of marketing?
answer
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
question
What is the key to building lasting customer relationships?
answer
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
question
__________ 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.
answer
A. Satisfaction B. Exchange C. Demand D. Customer-perceived value E. Objective value D
question
Which of the following is an accurate statement about building customer relationships in the modern marketing era?
answer
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
question
The total combined lifetime value of a company's current and potential customers is called __________.
answer
A. share of customer B. customer loyalty C. market share D. customer retention E. customer equity E
question
For which customer relationship group should a company make continuous relationship investments to delight, engage, retain, and grow them?
answer
A. True friends B. Barnacles C. Strangers D. True believers E. Butterflies A
question
How has the Great Recession of 2008 - 2009 affected marketers in terms of consumer attitudes?
answer
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
question
Which of the following statements regarding individual product decisions is correct?
answer
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
question
Furniture, major appliances, clothing, and hotel services are classified as __________ products.
answer
A. unsought B. specialty C. industrial D. shopping E. convenience D
question
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.
answer
A. convenience B. augmented C. specialty D. unsought E. shopping A
question
Services cannot be seen, tasted, felt, heard, or smelled before they are bought. In other words, services are __________.
answer
A. variable B. inseparable C. tangible D. perishable E. intangible E
question
One characteristic of services is their variability. What is the main reason for services being variable?
answer
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
question
Service quality greatly depends on the quality of the buyer - seller interaction during the service encounter. This is known as __________.
answer
A. external marketing B. internal marketing C. image differentiation D. the service profit chain E. interactive marketing E
question
Charles Revson, who started Revlon, once said "We sell hope." Revson was defining the __________ of Revlon cosmetics.
answer
A. quality level B. design C. branding D. core customer value E. augmented product D
question
According to the text, what are the three levels on which brands can be positioned?
answer
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
question
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.
answer
A. life-cycle stage B. personality C. benefits sought D. usage rate E. demographic C
question
Which targeting strategy focuses on common consumer needs, as opposed to different needs?
answer
A. Local marketing B. Mass marketing C. Concentrated marketing D. Differentiated marketing E. Individual marketing B
question
Psychographic segmentation divides buyers into different segments based on __________.
answer
A. lifestyle and personality B. lifestyle and geography C. lifestyle and income D. personality and income E. age and life-cycle stage A
question
A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your colleague?
answer
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
question
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 __________.
answer
A. actionable B. differentiable C. accessible D. measurable E. substantial B
question
What are perceptual positioning maps used for?
answer
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
question
Which value proposition is the most difficult to sustain in the long run?
answer
A. The same for less B. More for more C. More for the same D. More for less E. Less for much less D
question
Which of the following statements about segmentation is true?
answer
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
question
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?
answer
A. Gender B. Usage rate C. Age D. Lifestyle E. Geography D
question
What is the overall purpose of differentiation?
answer
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
question
Age, personality, buying style, and job position are __________ factors that can influence the business buying decision process.
answer
A. cultural B. organizational C. economic D. individual E. interpersonal D
question
The __________ consists of all the people who are involved in an organizational buying decision.
answer
A. buying center B. purchasing network C. buying network D. purchasing unit E. purchasing department A
question
Which of the following correctly defines the institutional market?
answer
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
question
One problem with business-to-business e-procurement is that it __________.
answer
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
question
Business-to-business marketers will sometimes promote their goods directly to consumers. This is because business demand is __________.
answer
A. elastic B. unrelated to demand for consumer goods C. derived D. the same as consumer demand E. constant C
question
Which of the following statements about the use of digital and social media for B-to-B marketing is correct?
answer
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
question
Which of the following is a business-to-business market transaction?
answer
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
question
Which of the following statements regarding the U.S. government market is correct?
answer
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
question
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?
answer
A. User B. Buyer C. Gatekeeper D. Influencer E. Decider D
question
The first stage of the business buying decision process is problem recognition. What is the second stage?
answer
A. Proposal solicitation B. Product specification C. General need description D. Supplier search E. Supplier selection C
question
Which of the following statements is true regarding public policy and government regulation?
answer
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
question
One new technology marketers are adopting is radio frequency identification (RFID). What does this technology do?
answer
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
question
Which of the following statements regarding the current demographic environment is correct?
answer
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
question
Demography studies statistics that include __________.
answer
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
question
Companies who passively accept the marketing environment __________.
answer
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
question
Ford offers a wide variety of cars that range from around $14,000 to more than $54,000. This reflects which economic factor?
answer
A. Income level B. Tax rates C. Interest rates D. Cost of living E. Income distribution E
question
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?
answer
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
question
Socially and environmentally responsible actions that meet both the immediate and future needs of customers and the company is the central principle of __________.
answer
A. strategic planning B. societal marketing C. profitability D. sustainable marketing E. the marketing concept D
question
Because not all managers have fine moral sensitivity, companies should __________.
answer
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
