question

Marketers can control the external environment in which their organizations operate.

answer

False

question

Companies use environmental management when they implement strategies that attempt to shape the external environment within which they operate.

answer

True

question

The increase in social media usage has dramatically changed marketing strategies and how companies interact with target markets.

answer

True

question

Demographics refers to information regarding people's vital statistics such as age and location.

answer

True

question

Inflation is a measure of the decrease in the value of money, expressed as the percentage reduction in value since the previous year.

answer

True

question

The Sherman Act of 1890 establishes protection for trademarks.

answer

False

question

If consumer behavior is not well understood, a marketer will have difficulty creating an appropriate marketing mix.

answer

True

question

Chantel would like to try a good Mexican restaurant for dinner tonight, so she asks a couple of coworkers for suggestions. She is using an internal information search.

answer

True

question

The purchase of products like soft drinks, cleaning products, and gasoline generally exemplify routine response behavior.

answer

True

question

Noah perceives the purchase of a tattoo to be a socially risky decision because he thinks that people will judge him unfairly if he has a tattoo. Hayley, however, does not perceive getting a tattoo as a particularly risky behavior. As far as social risk is concerned, getting a tattoo will be a higher-involvement activity for Noah than for Hayley.

answer

True

question

The United States, unlike some other countries, does not have a status structure or social class system.

answer

False

question

Opinion leaders are often the first to try new products and services.

answer

True

question

The manufacturer of Macho brand martial arts products was implementing a strategic plan when it sponsored a local karate tournament for teenagers.

answer

False

question

The marketing plan is a written document that acts as a guidebook of marketing activities for the marketing manager.

answer

True

question

The company's objective is to increase sales next year. This is an example of a well-stated objective.

answer

False

question

The four P's of the marketing mix are product, price, planning, and promotion.

answer

False

question

Typically, the development of the marketing mix starts with determining the promotion for a product.

answer

False

question

The most critical element for successful strategic planning is top management's support and participation.

answer

True

question

According to the American Marketing Association, marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

answer

True

question

An exchange cannot take place unless each party in the exchange has something that the other party values.

answer

True

question

Unlike a production-oriented firm, a firm embracing a sales orientation focuses on customer wants and needs so it can develop the best product at the lowest cost that will require very little selling effort.

answer

False

question

The ultimate goal of most market-oriented firms is profitability that results from satisfying the wants and needs of its customers.

answer

True

question

Retailers who give their sales clerks the authority to handle customer complaints without having to get approval from a supervisor are using empowerment.

answer

True

question

Marketing is important to business, so marketing should be part of the job of everyone in the organization, not just those in marketing.

answer

True

question

Most people have not applied ethical standards in their everyday lives.

answer

False

question

Today's business ethics are difficult to learn because they are different from those used outside the business world.

answer

False

question

Top managers who behave ethically can influence others in the organization to behave ethically.

answer

True

question

The greater the number of persons affected by a negative outcome, the more likely it is that marketers will recognize a problem as unethical.

answer

True

question

Some "green" products have an easily recognizable benefit to consumers and the environment.

answer

True

question

Sustainability is the development and marketing of products designed to minimize negative effects on the physical environment or to improve the environment.

answer

False

question

In the United States, women tend to be the key household decision-makers for many products, such as home furnishing purchases, vacations, and autos.

answer

True

question

In market segmentation, individual psychographic variables can be combined with other variables to provide more detailed descriptions of market segmentation.

answer

True

question

The 80/20 principle implies that they majority of all demand is due to a minority of the customers.

answer

True

question

Company characteristics, such as geographic location, type of company, company size, and product use, can be important segmentation variables.

answer

True

question

A product's position refers to where it is located on store shelves.

answer

False

question

Product differentiation is a positioning strategy.

answer

True

question

For a product to be called a business product, it must be used to manufacture other products, become part of another product, or aid the normal operations of an organization.

answer

True

question

The Japanese word Keiretsu is a network of interlocking corporate affiliates.

answer

True

question

OEM stands for operationally efficient marketing.

answer

False

question

The government sector (federal, state, and local) is a minor segment of the business market.

answer

True

question

Business marketers usually have far fewer customers than consumer marketers.

answer

True

question

The role of the gatekeeper may be filled by a secretary or receptionist.

answer

True

question

Marketing research is the function that links the consumer, customer, and public to the marketer through information.

answer

True

question

The first step in the marketing research process is to identify and formulate the problem/opportunity.

answer

True

question

The quality of secondary data should never be questioned.

answer

False

question

The most popular technique for gathering primary data is by observation.

answer

False

question

In a probability sample, every element in the population has a known statistical likelihood of being selected.

answer

True

question

Scanner-based research is a system of gathering information from a group of respondents by continuously monitoring the promotions panel members are exposed to and their subsequent purchase behavior.

answer

True

question

Convenience products, though inexpensive, still require considerable shopping efforts for buyers.

answer

False

question

Product modification occurs when changes are made in how the product functions, its quality, or some aesthetic characteristic of the product.

answer

True

question

The best generator of repeat sales is satisfied customers.

answer

True

question

Branding has three main purposes: product identification, repeat sales, and new-product sales.

answer

True

question

Kellogg's, Hanes, and General Electric are examples of a manufacturer's brand.

answer

True

question

All sales have an implied warranty under the Uniform Commercial Code.

answer

True

question

A product must be a discontinuous innovation to be considered a "new" product.

answer

False

question

A firm's new-product strategy links the new-product development process with the objectives of the marking departments, the business unit, and the corporation.

answer

True

question

The two techniques considered most useful for generating new-product ideas are customer-generation and competitive imitation.

answer

True

question

Without the internet, it would be impossible to conduct simultaneous product development from different parts of the world.

answer

True

question

One benefit of test marketing is that the marketing activity is shielded from competitors.

answer

False

question

Consumers described as laggards tend to rely on group norms when deciding to adopt an innovation.

answer

False

question

EDI is often used to replace paper documents with electronic documents containing the same information.

answer

True

question

The goal of materials handling system is to handle products as infrequently as possible.

answer

True

question

A marketing channel is a set of interdependent organizations that ease the transfer of ownership as products move from producer to business user or consumer.

answer

True

question

As products move through the marketing channel, channel members provide specialization and division of labor, overcome discrepancies, and provide contact efficiency.

answer

True

question

Carl represents a manufacturer of floor coverings and gets paid a commission for finding buyers and linking them up with the manufacturer. Carl is an example of a merchant wholesaler.

answer

False

question

Marketers who use nonstore retailing no longer have to worry about the "place" element of the four P's.

answer

False

question

New brands with small market shares tend to spend proportionately more for advertising and sales promotion than do those with large market shares.

answer

True

question

The goal of advertising is to change people's values.

answer

False

question

An insurance company's advertisement poses the question, "Will your family survive if you die uninsured?" This is an example of a health appeal.

answer

False

question

An example of product placement is when the judes on American Idol are shown sipping Coca-Cola during the broadcast.

answer

True

question

Sales promotion offers an incentive to buy.

answer

True

question

The objectives of a promotion depend on the general behavior of target customers.

answer

True

question

Dave is in charge of finding sponsors for the 2013 Riverbend Festival. He is meeting with marketing representatives from Wrangler jeans and First Tennessee National Bank, attempting to convince them to sponsor the event. Dave is engaged in personal selling.

answer

True

question

With relationship selling, the objective is to build long-term branded relationships with customers, not just to sell products.

answer

True

question

Customer relationship management requires that organizations develop relationships with their customers through touch points and data mining.

answer

True

question

The first step in the selling process is approaching the customer and probing needs.

answer

False

question

Before approaching the customer, a salesperson should learn as much as possible about the prospect's organization and its buyer.

answer

True

question

Meta Sinh is expected to sell two surgical laser systems each month. This sales objective is an example of a quota.

answer

True

question

Social commerce combines social media with the basics of e-commerce.

answer

True

question

Customers are on social media, and they expect their favorite brands will be their as well.

answer

True

question

Research indicates that the number of people who contribute content on social media sites is actually decreasing.

answer

True

question

Facebook is best characterized as a media sharing site.

answer

False

question

A review site allows consumers to post, read, rate, and comment on opinions regarding a wide variety of goods and services.

answer

True

question

Because of the widespread adoption of Android-based phones and other Smartphones, millions of applications have been developed for the mobile market.

answer

True

question

Profit is the price charged to customers multiplied by the number of units sold.

answer

False

question

Target return on investment (ROI) is the most common profit objective used by firms.

answer

True

question

If demand for milk is inelastic, consumers will not change their purchasing habits greatly when the price of milk changes.

answer

True

question

Most companies do a very good job of doing research to create a price strategy.

answer

False

question

Penetration pricing means charging a relatively low price for a product as a way to reach the mass market.

answer

True

question

Sears and John Deere run major sales on their lines of riding lawn mowers every fall. This is an example of a seasonal discount.

answer

True

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