question

Statistical interpretation focuses on what is typical or what deviates from the average

answer

True

question

Demographic characteristics are commonly used to segment a market because they are closely related to consumers' product needs and purchasing behavior.

answer

True

question

When a purchasing agent for Intel is offered a bribe by a silicon manufacturer salesperson,

answer

a promotion-related ethical issue has been created

question

Having recording biases and collecting only descriptive information are two of the primary drawbacks to

answer

observation

question

The information yielded by market segment profiles usually is not very useful later in the marketing process.

answer

False

question

Technology is the application of knowledge and tools to solve problems and perform tasks more efficiently.

answer

True

question

The four major competitive structures are

answer

oligopolies, monopolies, monopolistic competition, and pure competition.

question

In ____ sampling, there is no way to calculate the likelihood that a specific element of the population being studied will be chosen.

answer

nonprobability

question

Marketing strategies should be established before marketing objectives are decided.

answer

True

question

Sami Poole recently graduated from an East Coast University and has joined a small start-up based in New York City. One of his first assignments is to work collaboratively with other members of the marketing team to draft the marketing plan for the next fiscal year. Sami is highly skilled in conducting secondary research and as an alumnus of his university; he continues to have complimentary access to the university's library resources. He's now realizing how important data analysis is to firms and is glad he took a marketing research course. Sami is utilizing the library resources to uncover information about a variety of external factors that could provide opportunities or threats and is exploring such factors as competitive, economic, political, legal, regulatory, technological, and sociocultural. Which section of the marketing plan would be most appropriate for the information that Sami is obtaining through secondary market research?

answer

SWOT Analysis

question

Any time an activity causes managers or consumers to feel manipulated or cheated, a marketing ethics issue exists, regardless of the legality of that activity.

answer

True

question

An ethical issue is

answer

an identifiable problem, situation, or opportunity requiring an individual to choose from among several actions that must be evaluated as right or wrong

question

Marketing research is a process designed to gather information

answer

not currently available to decision makers

question

To maintain the control needed to obtain accurate information, marketers approach marketing research as a process. Which of the following steps of that process focuses on uncovering the nature and boundaries of the marketing situation to be studied?

answer

Locating and defining problems

question

The psychographic variable that includes numerous characteristics related to people's activities, interests, and opinion is

answer

lifestyle

question

A family that organizes and advertises a garage sale is performing marketing activities.

answer

True

question

The Boston Consulting Group approach is based on a philosophy that a product's market growth rate and its market share relative to competition should be helpful in determining its marketing strategy.

answer

True

question

When Ikea showcases rooms of furniture on its website, it lists each item in the room. However, if customers like all of the items, they can purchase them as a bundle. Which of the following aspects of the marketing mix is Ikea likely altering?

answer

Price

question

Which one of the following statements is true regarding the global impact of marketing?

answer

Marketing improves the quality of life of customers.

question

The process people use to determine the value of a product is not highly scientific.

answer

True

question

A marketing decision support system aids marketing managers in decision making by helping them to anticipate the effects of certain decisions.

answer

True

question

As the Industrial Revolution came to the United States, most firms operated in a(n) ____ orientation.

answer

Production

question

Although marketing theory supports the contrary, it is more probable that marketing budgets will be cut during periods of economic

answer

recovery

question

A firm's organizational goals should be derived from its opportunities.

answer

false

question

Subaru is producing a new seven-passenger van with all-wheel drive. Which of the following would be the best variables for segmenting the market for this new model?

answer

Geographic location and family life cycle

question

Sayed's employer is currently developing a new marketing strategy. The top managers have developed the marketing strategy and have given it to Sayed so that he can now develop an implementation plan. Sayed's company will most likely end up with which type of strategy?

answer

Realized

question

Which of the following forecasting methods is least dependent on historical sales data?

answer

A market test

question

Segmentation variables are usually grouped into four categories:

answer

demographic, geographic, psychographic, and behavioristic.

question

The marketing concept is a management philosophy, not a second definition of marketing.

answer

True

question

When Disney World wants to have at least 90 percent of its customers indicating they had a memorable and satisfying experience at the park hotels, this is an example of

answer

a marketing objective

question

What type of competitive structure exists when a firm produces a product that has no close substitutes?

answer

monopoly

question

The element of the marketing mix used to increase awareness of a product or company is

answer

promotion

question

Tiffany's markets its exclusive jewelry and gifts to high-income individuals interested in high-quality products and a well-known brand name. It uses the same marketing mix to reach this market. Tiffany's uses a(n) ____ strategy

answer

concentrated targeting

question

When conducting marketing research in another country, researchers should begin by using focus groups and other survey methods to refine their understanding of customer needs and preferences.

answer

False

question

Nabisco learned that health-conscious consumers preferred lower fat snack and lower-carbohydrate foods. At the same time, the firm saw sales of such products slumping and was careful not to launch any new varieties of these products for a while. Which of the following best describes Nabisco's action?

answer

Environmental analysis

question

A database is a collection of information arranged for easy access and retrieval.

answer

True

question

At the most basic level, profits can be obtained through relationships by acquiring new customers, enhancing the profitability of existing customers, and extending the duration of customer relationships.

answer

true

question

If the University Bookstore wanted to understand the textbook and school supplies needs on the campus of the University of Michigan, the population of study would be

answer

all students, faculty, supporters, and staff of the University of Michigan

question

The decisions made in creating a marketing mix are only as good as the organization's understanding of the target market.

answer

true

question

Refer to Scenario 1.2. Paws and Claws' addition of unexpected services, pick-up and delivery, and 24-hour access while charging a higher price than its competition is best described as which type of value?

answer

Value = customer benefits - customer costs

question

For an exchange situation to arise, only one condition must exist: two or more individuals, groups, or organizations must each possess something that they value and are willing to give up to receive the "something of value" held by the other individual, group, or organization.

answer

False

question

Corporate strategy determines the means for utilizing resources in the functional areas of business to reach the organization's goals.

answer

True

question

Achievement of the firm's overall goals is part of the marketing concept.

answer

True

question

In the process of conducting marketing research, marketers should allow for

answer

continual evaluation of the data during the entire collection period.

question

A marketing objective need not be consistent with the firm's overall objectives.

answer

False

question

The term market density refers to the number of potential customers per unit of land area, such as per square mile.

answer

True

question

A segmentation variable is used to group smaller markets into one larger market.

answer

False

question

The marketing environment consists of external forces that directly or indirectly influence an organization's acquisition of inputs and generation of outputs.

answer

True

question

A forecasting method that predicts sales based on relationships between past sales and other variables is called

answer

regression analysis

question

Information from the U.S. Census Bureau is commonly used as ____ by a variety of agencies and organizations.

answer

external secondary data

question

Lifestyle analysis focuses on people's activities, interests, and opinions.

answer

True

question

The Church of the Latter Day Saints has used advertising for many years, airing a commercial TV spot that shows parents actively playing games with their children. The Church is using marketing to promote its

answer

ideas

question

Credit increases future buying power.

answer

False

question

When managers at Logistics Pro are developing their strategic plan, they use a market orientation as a guide to ensure that ____ is an integral part of the process.

answer

customer satisfaction

question

The manager of MegaMarket is interested in asking consumers what they think about the store's new layout and expanded produce selection. If the manager would like to obtain a high response rate and have the study conducted as quickly as possible, which data collection method would you recommend?

answer

telephone survey

question

Marketing planning consists of two major components: marketing objectives and a control process.

answer

False

question

The fact that the Hershey company has recently reduced its waste by 360,000 pounds through a packaging redesign is evidence of its focus on

answer

social responsibility

question

After determining that consumers had concerns about fat and carbohydrates, Sardino's Pizza began offering a low-fat, low-carb pizza product. The creation of this new product was the result of

answer

market oppertunity

question

A factor that affects willingness to spend is general economic conditions.

answer

True

question

A marketer can use regression analysis techniques to predict the sales of new products.

answer

False

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