question

For which product is most critical for WPI to build brand familiarity?

answer

Wire closet

question

"Promotion" may include

answer

all of these may be included in promotion

question

______ is the managerial process of developing and maintaining a match between an organization's resources and its market opportunities.

answer

Strategic (management) planning

question

A generic market is one in which

answer

products from different industries compete for customers by trying to satisfy the same basic need

question

You have just been asked by your manager to compile data on firms in California that have a specific 4-digic NAICS code. You should know

answer

that it is possible that no data will be available, even if there is one large firm in California in that 4-digit industry

question

In business markets, close buyer-seller relations

answer

may improve the profits of both the guyer and the seller

question

When AT and T advertises in The Wall Street Journal that smartphones using its technology can make calls from more than 200 countries in the world, which market opportunity is AT&T pursuing?

answer

market development

question

General Electric's "strategic planning grid":

answer

requires subjective judgements about business strengths and industry attractiveness

question

When setting objectives for the whole firm, TOP MANAGEMENT should:

answer

involve the marketing manager in the objective setting process

question

Which of the following is(are) TRUE?

answer

"Brand name" is a word, letter, or group of words or letters.

question

Whenever John shops for groceries, he gives an ID card to the clerk, who scans the number. Then the scanner records every purchase - including brands, sizes, prices, and any coupons used. John is most probably a

answer

consumer panel member

question

Ranked from lowest level to highest level, the "hierarchy of needs" model includes:

answer

physiological, safety, social, and personal needs

question

A marketing manager made a speech in which he described his organization as having "really embraced the marketing concept over ten years ago." A critic in the audience argued that the manager didn't understand the "socially conscious" view of the marketing concept. Given the critic's argument, the marketing manager may work for:

answer

a motorcycle producer.

question

As a product moves through its product life cycle:

answer

customers' needs and attitudes may change.

question

The marketing manager at Massimino and McCarthy, a chain of retail stores that sells men's clothing, is reviewing marketing research data to try to determine if changes in marketing strategy are needed. Which of the following sources of data would be a secondary data source?

answer

Looking through the company's marketing information system to see past sales trends.

question

Which of the following is not a valid criterion of a "good" market segment?

answer

remarkable

question

Which of the following statements about packaging is TRUE?

answer

A good package can sometimes provide more promotional impact than advertising.

question

Which of the following is most likely to increase a firm's customer equity?

answer

The lifetime value of the firm's individual customers increases.

question

Rico Paving Contractors enters into a contract with Valley Supply for the purchase of 100 bags of cement per week for the next 16 weeks at a price of $15 per bag. The contract also includes a condition that allows prices to be revised if costs go up more than $1 per bag. This purchase involves

answer

negotiated contract buying

question

For which market segment would coupons be most effective

answer

deal prone

question

Underlying any economic environment is technology which affects:

answer

how the economy's resources are converted to output.

question

The difference between target marketing and mass marketing is that target marketing

answer

focuses on specific customers, while mass marketing aims at an entire market.

question

Dealer brands make up almost ______ percent of the products in U.S. grocery stores.

answer

30

question

Which of the following observations concerning the product life cycle is not true?

answer

The sales and profits of an individual brand follow the life-cycle pattern

question

Charles Wood, purchasing manager for a company that makes golf carts, posted the purchase specifications for the seats on a new golf cart model his firm is building. Four suppliers submitted _____ that included the

answer

competitive bids

question

Travel Magic Company wants to enter the hotel business. Its marketing managers are brainstorming ideas about why customers go to different hotels and then writing down customer requirements. At this point, Travel Magic is engaging in which step of the seven-step approach for segmenting product-markets?

answer

Identifying potential customers' needs

question

A good marketing manager knows that:

answer

All of these alternatives are true.

question

Which of the following could be a "breakthrough opportunity?"

answer

All of these could be breakthrough opportunities.

question

"Social class" in the U.S. is usually measured in terms of:

answer

occupation, education, and type and location of housing.

question

Which of the following social influences will likely have the greatest impact on a teenager's purchase of a skateboard?

answer

reference group

question

As a product moves into the market maturity stage of its life cycle, the marketing manager should:

answer

expect the market to move toward pure competition.

question

The ______ area of the marketing mix is concerned with decisions about getting the "right" product to the target market when and where it's wanted.

answer

place

question

a marketing strategy specifies:

answer

a target market and a related marketing mix

question

Identify the incorrect statement regarding target marketing.

answer

Mass marketers cannot do target marketing.

question

Which of the following laws focuses on price discrimination on goods of "like grade and quality" without a cost justification?

answer

The Robinson-Patman Act

question

Which of the following statements about manufacturers is true?

answer

Marketers often segment industrial markets on the basis of customer size.

question

Compared to a product-market, a generic market:

answer

Has sellers offering a more diverse set of products.

question

The process of naming broad product-markets and then segmenting them in order to select target markets and develop suitable marketing mixes is called:

answer

Market segmentation.

question

Specialty products:

answer

can have limited availability.

question

Operating supplies typically:

answer

need widespread distribution or prompt delivery.

question

Which of the following is not a part of the direct market environment for Starbucks?

answer

Rising interest rates worldwide.

question

Which of the following statements about ISO 9000 is FALSE?

answer

All of these statements are FALSE.

question

"Nationalism" is an issue in the ______________ environment.

answer

political

question

Herbal Essences tries to sell its hair shampoos and conditioners to adult women, ages 18-24. These women represent Herbal Essences' primary:

answer

target market.

question

Marketers cannot assume that a product that meets consumer needs in one country will do so in another. This is because:

answer

many needs are culturally learned.

question

If Wendy's decides to test market a hot dog in several stores to determine if it can make more profit from this menu item than from a "Wendy's single," which market opportunity is Wendy's pursuing?

answer

Product development

question

Target marketers create marketing mixes for:

answer

homogeneous product-market segments.

question

A detailed customer database, containing past purchases and other segmenting information, is used to focus marketing efforts on individual customers in a:

answer

Customer relationship management system.

question

Gross domestic product:

answer

is a widely used measure of income for different countries.

question

When conducting a competitor analysis, it is important for managers to take the viewpoint of:

answer

target customers.

question

When a company expands globally, this is an example of:

answer

Market development.

question

"Target marketing," in contrast to "mass marketing,"

answer

focuses on fairly homogeneous market segments.

question

When a firm is searching for attractive opportunities, a good manager should keep in mind that ___________ strength is very important.

answer

all of these strengths are important

question

The Federal Fair Packaging and Labeling Act calls for all of the following EXCEPT

answer

food manufacturers to use a uniform format that allows consumers to compare the nutritional value of different products.

question

Which of the following countries have the LOWEST GNI PER CAPITA?

answer

Ethiopia and Kenya

question

When listening to music on the radio, many consumers automatically switch stations when commercials begin to run, and they search until they find another station that is playing music. This tendency is an example of:

answer

Selective exposure.

question

When major airlines target business travelers because they travel often and typically pay at least three times the price for a ticket as leisure travelers, these airlines are segmenting the market primarily on:

answer

rate of use.

question

Marketing can provide needed direction for production and help make sure that the right goods and services find their way to interested consumers.

answer

TRUE

question

Rosalinda's Steak House purchases 70 T-bone steaks every Friday—including last Friday. Last Friday's order was an example of a

answer

straight rebut.

question

VoiceSys, Inc. produces voice-mail switchboard systems used in large office buildings, hotels, and other facilities. VoiceSys is short of cash, but its products are so profitable and are selling so well that it has decided to buy more production equipment from one of the many suppliers that serve its industry. This example illustrates:

answer

All of these alternatives are correct.

question

Impulse products:

answer

need widespread distribution with display at point of purchase.

question

Positioning maps are based on:

answer

customers' perceptions of products.

question

When consumers do not know where to buy a product or what it costs and the product's producer does not know where its target market is located, this is an example of:

answer

separation of information.

question

Regarding the government market,

answer

government is the largest customer group in the United States—spending about 30 percent of GDP.

question

Organizational buyers purchase the same product from more than one source

answer

to help ensure continuing supplies.

question

In the U.S., what percentage of total dollar value added by manufacturing comes from large manufacturers employing 250 or more employees?

answer

Almost 60 percent

question

Marketing manager Carl Hammer looked through his marketing information system where he learned who was buying his product and where. He was looking at:

answer

information.

question

During the purchase of new tooling at Acme Tool and Die, which of the following is an example of a gatekeeper?

answer

Andre, a research assistant, gathers and distributes information about alternatives.

question

Suzuki's 3 year/36,000 mile new car warranty is part of which marketing mix decision area?

answer

Product

question

In its efforts to support new-product development ideas within its own company, Google allows its employees to spend _______ percent of their time each week thinking about new product ideas, even if the ideas are not related to the employees' specific jobs.

answer

20

question

Which of the following statements about ethnic dimensions of the U. S. market is True?

answer

All of these statements about ethnic dimensions are True.

question

All of the following are examples of a production orientation, as opposed to a marketing orientation, EXCEPT:

answer

advertising focuses on the benefits of the product to customers.

question

The "total profit" approach to evaluating possible product-market strategic plans:

answer

may support a plan that is not the most profitable in the short run.

question

Compared to qualifying dimensions, determining dimensions

answer

are usually much more specific.

question

Moral standards often vary from one person to another, from one society to another, and among different groups within a society, so there is likely to be disagreement about what opinion is correct when it comes to marketing ethics.

answer

TRUE

question

It is difficult to maintain consistent quality in services because

answer

the service provider deals directly with the customer and often has to interpret each customer's needs.

question

Which of the following observations about the use of a marketing information system (MIS) is FALSE?

answer

For most firms it pays to wait to until you have important questions you can't answer

question

Regarding business supplies, which of the following is NOT true?

answer

Operating supplies are frequently called "accessories."

question

. In a market-directed economy:

answer

consumers decide what is to be produced and by whom through their dollar votes.

question

The marketing concept can be applied by:

answer

all of these can apply the marketing concept.

question

Regarding U.S. business and organizational customers,

answer

more goods and services are purchased by business and organizational customers than by final consumers.

question

Gross national income (GNI):

answer

is a measure similar to GDP but does not include income earned by foreigners who own resources in that nation.

question

Which of the following population groups is the most techno-savvy?

answer

Gen Y

question

Staple products:

answer

need maximum exposure and widespread distribution at low cost.

question

When a consumer puts much effort into deciding how to satisfy a need, he engages in

answer

extensive problem solving.

question

Identify the incorrect statement about population density and population growth.

answer

In Bangladesh and Kenya more than 85 percent of people live in urban areas.

question

Which of the following statements about economic systems is NOT true?

answer

Producers always make a profit in a market-directed system.

question

A public utility that has adopted the marketing concept would be most likely to

answer

set up a special service to help consumers reduce expensive peak-hours energy consumption.

question

The _____ dimension of the GE grid helps managers answer the question: Does this product-market plan look like a good idea?

answer

industry attractiveness

question

Lisa Campos was interested in buying a coffee pot to use at college and a cassette player for her sister's birthday present. At the local discount store, she compared prices on coffee pots and chose the cheapest. She read the product information on each cassette player and finally chose one with stereo headphones and a rechargeable battery. For Lisa, the coffee pot was

answer

a homogeneous shopping product, but the cassette player was a heterogeneous shopping product.

question

Which of the following is likely to be part of a situation analysis?

answer

All of these are good choices.

question

An office supplies producer sells a variety of office supplies to final consumers and businesses using its own mail order catalog. Here,

answer

None of these is true.

question

Clustering techniques

answer

try to find similar patterns within sets of data.

question

Denise Hunter had Thomasville brand living room furniture and wanted to buy a particular chair of the same brand. She made a few calls to find a store that had the chair in stock. When she found one, she went there and purchased the chair. For Denise, the chair was

answer

a specialty product.

question

Producers who operate in a competitive environment are more likely to adopt the marketing concept.

answer

TRUE

question

Which of the following gives the correct ORDERING of the steps in the "adoption process?"

answer

Awareness, interest, evaluation, trial, decision, confirmation

question

A marketer will likely need to reposition a product if:

answer

customers see the product as very similar to other products in the market.

question

Emergency products:

answer

need widespread distribution near probable points of use.

question

Teenagers:

answer

Have become a target for many firms.

question

If a brand consistently delivers on a promise that purchasers consider important, those purchasers are likely to develop a _______ for the brand.

answer

trust

question

Wu Chen frequently travels to Caracas, Venezuela where the only hotel he will stay at is the Crown Prince Hotel. His level of brand familiarity toward the Crown Prince Hotel is ______

answer

brand insistence.

question

A target marketer who uses two different marketing mix strategies to make two separate appeals to office tablet computer users and home tablet computer users is applying:

answer

the multiple target market approach.

question

Marketing can be viewed as a set of activities performed by organizations, but not as a social process.

answer

FALSE

question

The Consumer Product Safety Commission

answer

can order costly returns of products it considers unsafe.

question

Marketers at General Mills found that lots of people try to check e-mail or drive a car while eating breakfast or lunch. For many of these target customers the real _____ dimension in picking a snack is whether it can be eaten "one-handed."

answer

determining

question

An ROI estimate is needed during the ______________ step of the new-product development process.

answer

All of these steps need an ROI estimate.

question

Which of the following countries has the highest literacy rate?

answer

Finland

question

Why might the demand for business products be INELASTIC, while the demand facing individual sellers of those products is extremely ELASTIC?

answer

Because the demand for business products is derived, and some industries have many sellers of essentially homogeneous products.

question

When selling ____ products, a marketing manager should recognize that consumers have low price sensitivity and the product should have widespread distribution near the probable point of need.

answer

emergency

question

Of the following, which are the most receptive to new products and new brands?

answer

Young people

question

The segmenting step of the segmentation process

answer

looks for similarities in needs.

question

Customer equity

answer

is the expected earnings stream of a firm's current and prospective customers over some time period.

question

Ideally, a good marketing mix should:

answer

flow logically from all the relevant dimensions of a target market.

question

Regarding the business (manufacturing) market, small firms (with fewer than 10 employees)

answer

are the majority of all firms, but account for less than 3 percent of "value added" by manufacturing.

question

VoiceSys, Inc. produces voice-mail switchboard systems used in large office buildings, hotels, and other facilities. VoiceSys's products are selling so well that it has decided to buy new equipment that will increase its production capacity. This example best illustrates

answer

derived demand.

question

When a marketing manager notices that customer reaction to a new product does not meet expectations, they need to be prepared to _____ or move to a new marketing mix.

answer

pivot

question

Which of the following countries has the highest population density?

answer

Singapore

question

Between 2005 and 2025, the largest projected increase in the U.S. population is projected to occur in the:

answer

65 or over age group.

question

Straight rebuy

answer

vendor selections are likely to be made by a purchasing manager—without consulting anyone else.

question

Which of the following research methods can not be employed in a market research online community?

answer

focus groups

question

Regarding product life cycle planning, good marketing managers know that:

answer

a "me-too" new brand may immediately enter during market growth or market maturity.

question

Customer equity

answer

takes the perspective of the selling firm.

question

Regarding buying by intermediaries,

answer

buying committees are a way for supermarkets to handle the flood of new products.

question

Why can't marketing managers be satisfied just planning present activities?

answer

All of these are reasons why marketing managers can't be satisfied just planning present activities.

question

A close buyer-seller relationship in a business market:

answer

All of these may be part of a close buyer-seller relationship.

question

Which of the following gives the correct order of the steps in the new-product development process?

answer

Idea generation, screening, idea evaluation, development, commercialization

question

Regarding the organization of the product classes, an impulse product is to an emergency product as

answer

a new unsought product is to a regularly unsought product.

question

Billy Longstreet had just bought a new car and was a bit uncertain about whether or not he had done the right thing in buying it. Two days after he purchased it, he decided to take it back to the dealer so that the dealer could install some additional optional equipment. When Billy went to the dealership to pick up the car after the installation, the salesman who sold Billy the car said, "You know, in the last two hours three different customers told me how much they liked the looks of your new car. One of them even wanted to know if it was for sale!" This attempt by the salesman to confirm the wisdom of Billy's purchase decision seems to be aimed at reducing:

answer

dissonance.

question

The term "micro-macro dilemma" means that:

answer

what is "good" for some producers and consumers may not be good for society as a whole.

question

Whether a particular macro-marketing system is judged fair and effective depends on the objectives of the society.

answer

TRUE

question

Which of the following statements about packaging is TRUE?

answer

A package should satisfy not only the needs of final consumers but also those of intermediaries.

question

The Federal Fair Packaging and Labeling Act:

answer

requires that consumer goods be clearly labeled in understandable terms—to give more information.

question

Gina Williams wanted to start a decorating business. She identified several possible target markets, but decided to serve a market composed of recently married couples that owned their first home. Gina appears to be following:

answer

A single target market approach.

question

The text discusses a four-level hierarchy of needs. Which of the following is NOT included in that model?

answer

Psychological needs.

question

Which of the following statements about social class is false?

answer

Income by itself can be a pretty good measure of social class.

question

Regarding product life cycles, which is true?

answer

Product life cycles describe industry sales and profits within some product-market.

question

When planning a marketing strategy, managers have control over:

answer

their response to forces in the external market environment

question

Regarding component parts,

answer

All of these alternatives are correct.

question

Marketing

answer

applies to both profit and nonprofit organizations.

question

A young working couple earned $50,000 last year. Of that, they paid $16,000 in taxes and $15,000 in rent, food, insurance and other necessities. Their discretionary income for the year was:

answer

$19,000.

question

Regarding gross domestic product (GDP) and gross national income (GNI):

answer

All of these alternatives are true.

question

AT&T reacted to the popularity of the cellular phone by adding several cellular models to its line of regular phones. Availability and popularity of cellular phones is most likely due to changes in the ____________ environments.

answer

social and technological

question

Which of the following is the BEST example of a "generic market?"

answer

The senior citizen recreation market

question

A firm's product-market screening criteria for evaluating existing plans and possible new opportunities should consider:

answer

All of these should be considered.

question

A producer of home burglar alarm devices decides to start manufacturing portable video cameras for use in industrial security situations. This is an example of

answer

diversification.

question

Because more intermediaries are using computer systems to control inventory levels,

answer

they can assess the profitability of each product.

question

Which of the following is NOT an economic need?

answer

Hunger

question

Wizard Toy Company's marketing researcher conducted a survey to find out the percentage of customers who, after receiving a promotional mailing about a new toy, actually went out and purchased the product. This is an example of

answer

quantitative research.

question

When making business buying decisions, it is important to remember that:

answer

capital item purchases can't be fully charged off to the current year's expenses.

question

Regarding product life cycles, which of the following is not true?

answer

The level of promotion usually decreases in market maturity since there is less revenue to cover the cost.

question

In his last order, the bakery manager at Bread of the Earth Bakery purchased a different brand of whole wheat flour from his regular supplier, Best Bakery Supplies. This is an example of a

answer

modified rebuy.

question

A generic market definition includes

answer

customer (user) needs, customer types, and geographic area.

question

The "universal functions of marketing" do NOT include:

answer

producing.

question

Regarding consumer product classes, a convenience product is to an emergency product as

answer

a shopping product is to a heterogeneous shopping product.

question

Which of the following statements about trademarks is TRUE?

answer

Registering under the Lanham Act is often a first step to protecting a trademark to be used in foreign markets.

question

Generation X refers to:

answer

those born from 1965—1997.

question

Regarding new-product development, market tests:

answer

should test the product and specific marketing mix variables.

question

Which of the following is probably NOT a part of a situation analysis?

answer

A computer company asks ten lawyers to participate in a focus group on how they use the internet.

question

Which of the following U.S. antimonopoly laws deals with conspiracy to fix prices?

answer

Sherman Act (1890)

question

Concept testing:

answer

seeks potential customers' reactions and attitudes toward new product ideas—before actual models are developed.

question

The goal of vendor analysis is

answer

lowering the total costs associated with purchases.

question

Regarding product life cycles, a good marketing manager knows that

answer

entirely different target markets may be involved at different stages of the product life cycle.

question

Identify the incorrect statement about population density and population growth.

answer

In Bangladesh and Kenya more than 85 percent of people live in urban areas.

question

The greatest growth in the world's population over the next several years will come from:

answer

Africa.

question

Which of the following is the WORST example of a "generic market"?

answer

The designer jeans market.

question

Ideally, product-markets should be described in terms of:

answer

All of these are true.

question

Which of the following statements is True regarding social responsibility in marketing?

answer

Being socially responsible can conflict with a firm's profit objective.

question

Regarding consumer products,

answer

Supermarkets may carry homogeneous shopping products.

question

In the US, social class groupings are typically based on all of the following EXCEPT:

answer

community participation.

question

Which of the following criteria should a marketing manager use when segmenting a broad product-market?

answer

The people in different segments should be as heterogeneous as possible with respect to their likely response to marketing mix variables.

question

Which of the following is FALSE with respect to data, information, knowledge and wisdom.

answer

Knowledge answers questions of "when" and "where".

question

Benefits of focusing on a specific target market (with the aid of marketing segmentation) include all the following except:

answer

Managers can identify the best technology for improving production methods.

question

Which of the following statements BEST reflects the point of view of the text with respect to marketing research?

answer

"When we work with outside marketing research specialists, we expect them to take the time to really understand the problem we are trying to solve."

question

____ refers to a firm's obligation to improve its positive effects on society and reduce its negative effects.

answer

Social responsibility

question

An application for the iPhone that includes voice directions for a built-in GPS system can be helpful in finding a motel that is "off the beaten track". What is the primary economic need being satisfied by this app?

answer

Efficiency in use

question

Which of the following is LEAST likely to compete in the same generic market with the others?

answer

Potato chips.

question

Regarding organizational buying, the people who have the power to select or approve the supplier—especially for larger purchases—are called:

answer

deciders.

question

What is the likely level of involvement in a purchase decision for a new couch?

answer

Extensive.

question

Identify the incorrect statement pertaining to the stages of the product life cycle.

answer

In the market growth stage profits keep rising steadily with no sign of decline.

question

Macro-marketing:

answer

tries to effectively match supply and demand.

question

According to the text, segmenting should be viewed as a(n) ______________ process.

answer

"clustering" or aggregating

question

A person who purchases flowers will select different floral arrangements for a retirement party, a funeral, and a Valentine's Day date. This illustrates the impact of _____ on purchase decisions.

answer

the purchase situation

question

Jazzy Tile Co. segmented its broad product-market and decided to aim at two different segments, offering each segment a different marketing mix. Jazzy Tile Co. is following the ______________ approach.

answer

multiple target market

question

When studying consumer needs, a marketer should:

answer

All of these alternatives are correct.

question

Price is a rough measure of ___________________.

answer

customer value

question

A combined target market approach

answer

may not satisfy customers as well as the multiple target market approach.

question

Homogeneous shopping products:

answer

need enough exposure to facilitate price comparison.

question

Macro-marketing is concerned with examining the relationship of the entire production and distribution system.

answer

TRUE

question

Typically, firms need a hierarchy of objectives. Which of the following best represents a correct hierarchy of a firm's objectives?

answer

Company objectives, marketing objectives, promotion objectives, sales promotion objectives.

question

Marketing manager Ricki Stephens reviewed her marketing information system to learn who was buying her company's products and at what stores they were buying. She found this internal and external data in her company's:

answer

data warehouse.

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