Question 1

When a tee shirt manufactuer states, \"We only sell it in black because that way we can buy plenty of black fabric and run our plant efficiently.\" their statement reflects the views that were popular in which era of the evolution of marketing?

Accepted Answer

Production-Oriented

Question 2

Jami sells construction equipment. Whenever she calls on her building contractor customers, she asks if they are having any problems. In doing so, Jami is addressing which of the following core aspects of marketing?

Accepted Answer

Satisfying customer needs and wants

Question 3

Julia is considering a career in marketing. She is concerned about the image of marketers as fast-talking, high-pressure people. When reading about the core aspects of marketing, Julia is relieved to see that in marketing:

Accepted Answer

All parties to an exchange should be satisfied

Question 4

Xavier is analyzing potential market segments. He should carefully seek potential customers who have both an interest in his products and

Accepted Answer

The ability to buy them

Question 5

When referring to \"exchange,\" marketers are focusing on:

Accepted Answer

The trading of things of value

Question 6

Which of the following questions must be addressed when making marketing decisions? a) how is the product to be designed? b) how much should the product costs? c) where should the product be promoted? d) how will the product be delivered to the customer?

Accepted Answer

All of these

Question 7

Some banks have begun offering special accounts designed to attract junior high school students. These kids save in such small amounts that the accounts cost banks more to maintain than they are worth. But bankers know that consumers are creatures of habit and hope that the young people they serve now will become adult customers. These banks recognize:

Accepted Answer

The lifetime value of customers

Question 8

Firms achieve _______ through efficient procedures and excellent supply chain management

Accepted Answer

Operational Excellence

Question 9

Carla has been directed by her regional marketing manager to cut prices on seasonal items, submit an ad in the local paper, and tell distributors to reduce deliveries for the next month. Which step of the strategic marketing planning process is Carla engaged in?

Accepted Answer

Implement marketing mix and resources

Question 10

When discussing the marketing planning process, STP stands for:

Accepted Answer

Segmentation, Targeting, and Positioning

Question 11

Kathy reviews her division\'s new marketing plan. Beyond evaluating the plan in terms of its ability to create value for the intended target market, she also is very interested that the proposed marketing plan...

Accepted Answer

Is consistent with the company\'s mission statement

Question 12

When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged?

Accepted Answer

Planning

Question 13

What is false about employee\'s role in the consumer company (marketer) value match? a) can generate revenues b) can reduce costs c) can generate revenues and reduce costs d) are hired for expertise

Accepted Answer

All are true

Question 14

Service warranty is part of the marketing offering.

Accepted Answer

True

Question 15

Brad is reviewing the performance of his franchise sandwich store. As a franchisee, he has to comparative data from other stores. Brad will likely look at _______ data for other stores to help him to evaluate his performance a) sales b) gross margin c) number of customers d) coupon redemption

Accepted Answer

All are true

Question 16

The government has decided that the post office is going to start running their own ATMs that would service all customers from any bank without any service charges. THIS IS AN EXAMPLE OF A PIECE OF DATA THAT COULD FIT IN MORE THAN ONE CATEGORY. SO IF WE EXCLUDE COMPETITION, which category does it fit?

Accepted Answer

Macroenvironment - Political

Question 17

You work at a bank and one of the companies that provide your banking software is going out of business. Which category does it fit?

Accepted Answer

Microenvironment - Vendors

Question 18

You work at a bank and recent marketing research indicates unemployment is going to drop .5%. Which category does it fit? YOU COULD PUT THIS WITH CONSUMER, WHAT OTHER CATEGORY WORKS?

Accepted Answer

Macroenvironment - Economic

Question 19

You work in the IT department of a bank. Your department has just developed an application for mobile communications that has been awarded the best design application for financial services. Which category does this fit? Note: you could put this in the technology category and even possibly publics because an outside party with the award. Which other category does this fit?

Accepted Answer

Microenvironment - Company

Question 20

You work at a bank that just found out that one of its competitors has had a very extensive security breach. Which category does it fit?

Accepted Answer

Microenvironment - Competition

Question 21

With regard to SWOT internal refers to issues within the company. This means everything else would be external

Accepted Answer

True

Question 22

You work at a bank which earns a great deal of profit from ATM charges. The government has decided that the post office is going to start running their own ATMs that would service all customers from any bank without any service charges. This is an example of what aspect of SWOT?

Accepted Answer

Threat

Question 23

You work at a bank and recent marketing research indicated unemployment is going to drop .5%. Which category of SWOT does it fit?

Accepted Answer

Opportunity

Question 24

You work at a bank and one of your vendors that provide your banking software is going out of business. This represents a:

Accepted Answer

Threat

Question 25

You work at a bank that has just developed an application for mobile communications that has awarded the best designed application for financial services

Accepted Answer

Strength

Question 26

You work at a bank that just found out that one of its competitors has had a very extensive security breach

Accepted Answer

Opportunity

Question 27

The basic goal of integrated marketing communications is to:

Accepted Answer

Communicate the value proposition to the target market

Question 28

Integrated marketing communications represents the ________ P in the four P\'s of a firm\'s marketing mix

Accepted Answer

Promotion

Question 29

Garrett works for a small chain of convenience stores. He is trying to coordinate his firm\'s IMC efforts. Garrett\'s IMC goal is to:

Accepted Answer

Provide clarity, consistency, and maximum communicative impact

Question 30

The three elements of any IMC strategy are the consumer, the channels, and

Accepted Answer

The results

Question 31

Gerald knows which IMC communication channels are available and knows how he will measure the results of his IMC efforts. To implement his IMC efforts, Gerald also needs to

Accepted Answer

Focus his efforts on his target market(s).

Question 32

Loretta would like to know which, if any, of her firm\'s IMC efforts are working. She could use _______ to provide feedback from her efforts: a) sales data b) complaints c) compliments d) redemption rates for coupons or rebates

Accepted Answer

All of these

Question 33

Marketers adjust their messages and media based on the type of audience (suppliers, shareholders, customers, or the general public) because:

Accepted Answer

Different media communication in different ways

Question 34

In the AIDA model:

Accepted Answer

Awareness leads to interest, which hopefully leads to desire and then, action

Question 35

_______ refers to a potential customer\'s ability to recall that the brand name is a particular type of retailer, product, or service

Accepted Answer

Brand awareness

Question 36

Even the best marketing communication can be wasted if the sender does not first:

Accepted Answer

Gain the attention of the consumer

Question 37

Several years ago, changes in advertising restrictions allowed pharmaceutical companies to begin promoting their products through traditional media. Today, it is hard not to see ads on television ending with \"Ask your doctor about (our medicine).\" In addition to creating awareness about their drugs, the companies are hoping to:

Accepted Answer

Stimulate interest, persuading consumers to investigate further

Question 38

Sales promotions include all of the following EXCEPT:

Accepted Answer

Online ads

Question 39

Elliott was asked to take a look at the company\'s website. He noted that customers can order products on the site, but he felt it would also be important to: a) build the brand image of the firm\'s products b) encourage customers to post product reviews c) improve the overall image of the company d) educate customers on how to use the products to their full advantage

Accepted Answer

All of these

Question 40

Lamar is assessing the long term effectiveness of his firm\'s IMC efforts. He will probably analyze the firm\'s success in:

Accepted Answer

Increasing market share, sales, and customer loyalty

Question 41

Competitive parity, percentage-of-sales, and available budget are types of _______ IMC budgeting

Accepted Answer

Rule-of-Thumb

Question 42

A product is _______ that can be offered through a voluntary marketing exchange a) the combination of a firm\'s marketing mix b) the brand associations c) the category depth d) a tangible item  e) anything of value to consumers

Accepted Answer

Anything of value to consumers

Question 43

The complete set of all products offered by a firm is called its: a) product line b) product categories c) product mix d) product breadth e) product line depth

Accepted Answer

Product mix

Question 44

A ________ is a group of associated items that consumers tend to use together or think of as part of a group of similar products a) product line b) product mix c) product breadth d) line extension e) brand extension

Accepted Answer

Product line

Question 45

A firm\'s product mix breadth is its: a) number of items per product line b) depth divided by profitability c) number of categories that are mutually exclusive d) number of product lines e) brand equity multiplied by its capacity utilizaiton

Accepted Answer

Number of product lines

Question 46

_______ is the number of items within a product line a) brand equity b) product line breadth c) product line depth d) product mix depth e) product mix breadth

Accepted Answer

Product line depth

Question 47

Firms often add new product lines to: a) capture new markets b) respond to evolving markets c) increase sales d) compete in new venues

Accepted Answer

All of these

Question 48

For many years, General Electric had a corporate strategy of being among the top three firms in any market in which it operated; if it could not achieve a top-three position, it would exit the market. This strategy often resulted in the company _______ when certain product lines failed to meet this expectation a) increasing product line depth b) decreasing product line depth c) decreasing product mix breadth d) increasing product mix breadth e) introducing brand extensions

Accepted Answer

Decreasing product mix breadth

Question 49

A university that has separate graduate and undergraduate admission offices recognizes that these are distinct: a) brand associates b) product/service lines c) product mixes d) brands e) co-brands

Accepted Answer

Product/Service lines

Question 50

The primary purpose of brand is to: a) sell advertising space b) minimize product line depth needed to be effective c) distinctly identify one seller\'s goods or services from competitors\' offerings d) protect product packaging e) meet government regulations

Accepted Answer

Distinctly identify one seller\'s goods or services from competitors\' offerings

Question 51

One key feature of the value of a brand is that: a) it often protects the firm competition and price competition b) it no longer needs to be supported by advertising and promotion c) if it becomes a generic name, the brand is worth even more d) it cannot be successfully imitated by a retailer\'s own brand e) competitors will frequently abandon a sector altogether rather than compete

Accepted Answer

It often protects the firm competition and price competition

Question 52

If many consumers in the marketplace are familiar with a brand and what it stands for and have an opinion about the brand, the brand has considerable a) awareness b) equity c) extension d) integration e) co-branding

Accepted Answer

Awareness

Question 53

When Procter & Gamble added teeth whitening products under the Crest brand, the firm was engaged in: a) corporate branding b) brand extension c) brand licensing d) brand association e) perceived value branding

Accepted Answer

Brand extension

Question 54

The potential benefits of brand extension include: a) it allows the perception of a brand with a quality image to be carried over to the new product b) it lowers marketing costs c) it can boost sales of the core brand d) the firm can spend less on creating brand awareness and associations

Accepted Answer

All of these

Question 55

One of the categories of products for which brand extension is logical is: a) generic goods b) generic services c) commodities d) complementary goods e) licensed brands

Accepted Answer

Complementary goods

Question 56

Brand dilution occurs when: a) customers don\'t see the \"fit\" between products sharing the same brand name b) there are too many products and product categories c) new brands cannibalize existing brands d) customer perceptions about the core brand are adversely affected

Accepted Answer

All of these

Question 57

Shell MasterCard, created cooperatively by Shell Oil Company and Master Card, is an example of: a) co-branding b) brand extraction c) brand collusion d) a generic brand e) brand dilution

Accepted Answer

Co-branding

Question 58

Brand licensing is: a) common for toys b) a way to build brand equity c) a means of generating additional revenue d) widely used by sports teams

Accepted Answer

All of these

Question 59

Efforts to change a brand\'s focus to target new markets or change the image of a brand are called: a) co-branding b) brand extraction c) brand collusion d) brand repositioning e) brand dilution

Accepted Answer

Brand repositioning

Question 60

Even if they succeed, new-to-the-world products are: a) not always successful b) not adopted by everyone at the same time c) sometimes copycat brands d) not subject to the law of first movers

Accepted Answer

Not adopted by everyone at the same time

Question 61

Innovators are a critical group of new product adopters because they: a) are the major source of innovation b) act as reverse engineering consultants c) help with test marketing d) help the product gain marketing acceptance e) extend the product life cycle

Accepted Answer

Help the product gain marketing acceptance

Question 62

When John began helping his favorite uncle Burton with his finances, he discovered his uncle was still renting a rotary-dial telephone from the phone company. Uncle Burton had paid thousands of dollars in rental fees over the previous forty years. Uncle Buron is a(n) _______ in the diffusion of innovation process for telephones a) innovator b) laggard c) late majority d) early majority e) early adopter

Accepted Answer

Laggard

Question 63

Many home design businesses volunteer to provide their latest products for tours-of-homes fundraisers because they know their new products will benefit from a) relative advantage b) compatibility c) observability d) complexity e) trailability

Accepted Answer

Observability

Question 64

Samples are often used for new products when _______ will influence the diffusion of the product a) relative advantage b) compatibility c) observability d) complexity e) trialability

Accepted Answer

Trialability

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