MKTG 480 Final – Flashcards
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1. Which of the following is defined to be an exchange between a firm and it's customers? a. Advertising b. Consumer behavior c. Marketing d. Finance
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marketing
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2. What did the early marketplace primarily focus on? a. Product b. Promotion c. Price d. Place
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product
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3. What do the letters CMO represent? a. Chief Management Officer b. Central Marketing Organization c. Central management officer d. Chief Marketing Officer
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chief marketing officer
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4. What is one of the largest factors stressing out marketers these days? a. The pressure of increase stock price b. The pressure to prove they are valuable c. The pressure to show results d. The pressure to produce more money than R&D
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the pressure to show results
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5. Which of the following is not part of the 5 C's a. Context b. Customer c. Corporation d. Competitors
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corporation
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6. Fundamentally, the best marketers put themselves in place of their___________. a. Company b. Customers c. Competitors d. Friends
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customers
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7. What order is correct for the marketing framework? a. 5C's , 4P's, STP b. 4P's, 5C's, STP c. 5C's, STP, 4P's d. STP, 5C's, 4P's
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5C's, STP, 4P's
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8. A company has its best chance of keeping its customers happy if it's in close ______________ with them. a. Context b. Communication c. Cooperation d. Support
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communication
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9. The question, "Will customers want what your company is prepared to produce?" best describes which of the 4 P's? a. Product b. Price c. Place d. Promotion
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product
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10. Great marketing is based on ___________ laws of human and organization behavior. a. Philosophical b. Feelings about c. Intuitive d. Economic and psychological
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economic and psychological
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11. The marketing framework can be used when you're ___________. a. Buying a car b. Working a case for class c. Trying to decide where to eat lunch d. Doing your taxes
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working on a case for class
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12. What can be marketed? a. Vacation destinations b. Professional athletes c. Just about anything d. Clothes
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just about anything
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13. During the ____________ phase of the purchase process, the customer identifies a difference between an actual state and a desired state or that something is lacking. a. Purchase b. Pre-purchase c. Post purchase d. Preliminary
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pre-purchase
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14. Whether the buyer is a consumer or a business the buying process is ________. a. Consistent b. Inconsistent c. Exhausting d. Simple
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consistent
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15. A_____ item is something that is purchased without much thought before the purchase. a. Quick b. Specialty c. Convenience d. Shopping
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convenience
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16. Customer involvement is ________ on a B2C specialty purchase. a. Very low b. Low c. Medium d. High
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high
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17. If you are not in the market for a new house, you will most likely ____ ads for a new house. a. Hear b. See c. Ignore d. Pay attention to
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ignore
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18. Why do women who work the cosmetic counter in department stores wish to spray you? a. To get you to notice the name of the perfume b. To get you to notice the package of the perfume c. To appeal to your sense of smell, and make you remember that product d. So you smell better
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to appeal to your sense of smell, and make you remember that product
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19. Creating well-designed products is the predominant way of conveying brand imagery through________. a. Smell b. Touch c. Sight d. Sound
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touch
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20. When an ad is shown for such a short time that doesn't meet the threshold of consciousness, it is called___________. a. Fast b. Liminal c. Subliminal d. Unconscious
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subliminal
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21. Sensory and perceptual perceptions impressions can become______. a. Brand associates b. Perceptual fluency c. Brand names d. Catch slogans
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brand associates
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22. With repetition and elaboration, associates can get into_____________. a. Brand associations b. Short-term memory c. Brand names d. Long-term memory
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long-term memory
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23. Marketers use Maslow's Hierarchy of need by________. a. Focusing their advertising on a particular level b. Focusing on self-actualization needs c. Looking at which needs yield the largest profits d. Identifying their product with a certain level of needs
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identifying their product with a certain level of needs
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24. Differences in __________ and preferences require that different products be provided to satisfy the different segment's needs. a. Companies b. Targets c. Perceptions d. Consumers
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perceptions
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25. Company ABC is interested in better understanding how different products be provided to satisfy the different segment's needs. a. Position its product in the market b. Segment the market c. Mass market d. Target market
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segment the market
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26. Considering a continuum from "mass marketing" to "one-to-one marketing" market segmentation is _____________. a. Very close to "mass marketing" b. Very close to " one-to-one marketing" c. In the middle d. On a different continuum
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in the middle
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27. The contrast between mass marketing and one-to-one marketing illustrates that segments become more__________ as they increase in size. a. Heterogeneous b. Favorable c. Homogeneous d. Unfavorable
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heterogenous
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28. As segments increase in size, it becomes ____________ to satisfy them with the same product. a. More difficult b. Easier c. Cheaper d. More fun
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more difficult
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29. Company ABC segments customers by gender, age, education, and income, Company ABC's segmentation is based on ___________ factors. a. Demographic b. Geographic c. Psychographic d. Behavioral
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demographic
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30. Regarding the phrase "time is money", what type of effect does time seemingly have on money? a. Positive effect b. No effect c. Little effect d. Negative effect
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negative effect
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31. Which of the following is not a demographic variable? a. Gender b. Age c. Culture d. Education
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culture
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32. Newlyweds are most likely to spend money on which of the following? a. Charitable giving b. Furniture c. Music d. Health care
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furniture
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33. The fact that snow blowers tend to sell better in the north rather than in the south, illustrates the importance of considering ____________ in marketing planning. a. Climate b. Urban living c. Culture d. Educational
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climate
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34. Which of the following is a psychological factor? a. Attitude b. Education c. Age d. Country
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attitude
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35. Some customers are known for their expertise and involvement in a category and area willing to share information and give advice, making them likely to generate word of mouth. These people are known as market____________. a. mayhems b. mavens c. sharers d. sellers
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mavens
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36. One behavioral segment of great importance to the market is the __________ of the local brand because it is relatively easy to communicate to this group. a. Past user b. Future user c. Current user d. Non-user
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current user
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37. Some customers are currently using a competitor's brand or aren't even purchasers in a certain category at all. It is ____________ for marketers to identify these people. a. Difficult b. Easy c. Impossible d. A bad idea
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difficult
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38. The idea of targeting is merely one of _________. a. Surveying b. Assessing c. Analysis d. Selection
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selection
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39. Company ABC operates a nail salon that specializes in artificial nails. It has two primary____________ women who get their nails done frequently , and women who continuously wear fake nails. a. Segments b. Positioning c. Levels of awareness d. Market size
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segments
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40. Marketers target certain segments because it's _______ to try to be all things to all people. a. Easier b. Strategic c. Not advisable d. Advisable
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not advisable
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41. If a market looks attractive, but a firm is not particularly skilled in the market, a key question is whether the firm can develop sufficient _________. a. Opportunities b. Segments c. Capabilities d. Products
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capabilities
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42. What is the method for trying to objectively assess one's own corporate strengths? a. STP b. SWOT analysis c. 4Ps d. 5Cs
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SWOT analysis
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43. Strengths are _________. a. Internal and favorable b. Internal and unfavorable c. External and favorable d. External and unfavorable
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internal and favorable
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44. Company ABC's brands and products have perceived strengths, and its marketing department needs to consider what they can do to assure that these will be sustainable______. a. Market segments b. Target markets c. Competitive advantage d. Opportunities
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competitive advantages
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45. If a market segment looks attractive, and serving that segment fits our corporate abilities, then we should____________. a. Avoid it b. Collect some data c. Do some analysis d. Go for it
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go for it
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46. Corporate strengths should be assessed relative to a firm's competitors in order to understand customers and their _______. a. Market segments b. Awareness c. Demographics d. Purchase choices
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purchase choices
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47. Which of the following is true about this company based on the perceptual map? a. We dominate competitor 3 on quality b. We dominate competitor 3 on price c. We are dominated by competitor 1 on price d. We are dominated by competitor 2 on quality.
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we dominate competitor 3 on quality
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48. Company ABC is attempting to project the growth rate for a new product market. In order to project the growth rate, the firm will first need to ________ a. Create the product b. Size the market c. Promote the product d. Estimate goals
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size the market
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49. A lot of estimates go into final calculations of market size, so each component needs to be as precise as possible so any errors in the calculations are NOT ___________. a. Ignored b. Calculated c. Computed d. Reduced
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compounded
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50. Company XYZ is considering launching a new MP3 player product. It has sized the market and it looks attractive; however, the company would also be wise to predict the ________ of the market to better assess its attractiveness. a. Population b. Segments c. Growth d. Moving average
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growth
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51. Determining which segments to target depends on an interplay between _______ issues. a. Quantitative and strategic b. Qualitative and statistical c. Calculation and estimation d. Practical and theoretical
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quantitative and strategic
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52. Positioning is mostly_________. a. Identity b. Physical elements c. Targeting d. Advertising
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identity
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53. Marketers and senior managers like to see graphical depictions of where their brands are, and where their competitors are in the minds of their customers. What are these called? a. Histograms b. Perceptual maps c. Genograms d. Opinion charts
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perceptual maps
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54. Brands depicted as points in the map close together are those perceived as ______. a. Similar b. Different c. Expensive d. High-quality
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similar
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55. __________in perceptual maps offer(s) intriguing possibilities for new market opportunities. a. Brands b. Holes c. Targeting d. Positioning
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holes
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56. Which of the following is not true according to this perceptual map? a. Customers view Lexus and Lincoln as most interchangeable of the brands b. The Tesla and Prius are not competing with each other c. People in segment 1 prefer Tesla or Prius to Lincoln or Lexus d. People in segment 2 seek nice luxury at inexpensive prices
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people in segment 1 prefer Tesla or Prius to Lincoln or Lexus
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57. If a company promotes broadly and heavily, they are probably looking to ___________. a. Create a niche market b. Offer low prices c. Move a lot of merchandise d. Distribute through selective channels
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move a lot of merchandise
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58. A CEO is considering how he wants his company to be positioned. He has thought of it as "the coolest brand" and also the one with the best value. Which of the following is true about his predicament? a. He should definitely try to have the coolest brand. b. She should definitely try to have a brand with the best value c. He can probably achieve either of these goals, but not both d. He can achieve both of these goals
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he can probably achieve either of these goals, but not both
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1. A _________ is the general term used to describe both goods and services. a. Price b. Product c. Promotion d. Place
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product
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2. Orbitz offers low - price tickets on flights because_____________ a. They are in competition with airlines b. It is something that benefits customers c. They accept a low margin d. Their business model is based on promotions
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it is something that benefits customers
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3. Marketers have long realized the benefits of morphing _______ purchase- transactions exchanges into long-term relationship marketing. a. Short-term b. High quality c. Customer d. Product
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short term
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4. An example of a tangible purchase is__________. a. Consulting advice b. The symphony c. Financial services d. Clothing
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clothing
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5. Which of the following are pure goods? a. Rock concerts b. DVDs c. Sporting events d. Consulting
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dvds
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6. __________ Qualities are those attributes that may be evaluated prior to purchase, as the customer learns about the competitive offerings. a. Credence b. Experience c. Search d. Product
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search
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7. ____________ Qualities are those that require some trial or consumption before evaluation. a. Search b. Product c. Credence d. Experience
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experience
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8. _______________ are dominated by search and experience qualities. a. Goods b. Services c. Purchases d. Products
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goods
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9. Which of the following are pure goods? a. Rock concerts b. DVDs c. Sporting events d. Consulting
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dvds
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10. What has consequences in the interaction between the service provider and the customers? a. The inseparability of production and consumption b. The perishability of the item c. The age of the customer d. The elasticity of demand
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the inseparability of production and consumption
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11. It is helpful to think of goods and services as ____________. a. Existing along a continuum b. Similar c. Different d. Comprised of both logistics and tangible items
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existing on continuum
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12. The central element of what is purchases is called the "Core, " and anything bought on top of that is called what? a. Promotions b. Goods c. Value added d. Extras
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value added
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13. A ______________ is comprised of several product lines that can vary in breadth and depth. a. Product mix b. Marketing mix c. Company d. Service
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product mix
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14. The process of developing new products depends first on a company's ______________. a. Bottom line b. Size c. Location d. Culture
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culture
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15. Marketing management is involved throughout the new product development process in the ________ stage. a. Test marketing b. Concept testing c. Product development d. Idea- generation
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idea generation
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16. Adam and Jose are attempting to identify the bundle of product features most likely to attract customers. Jose argues that they should conduct a(n) _______________, which involves comparing different combinations of attributes and the customer simply determines which product combination sounds best, next best and so on. a. Focus group b. Interview c. Conjoint study d. Web survey
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conjoint study
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17. What terms refers to using customer data to try to predict the product's likely success? a. Forecasting b. Foreshadowing c. Test marketing d. Profit prediction
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forecasting
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18. In order to calculate sales potential, we need to know what three things? a. Market price, purchase potential, target market b. Test market size, purchase intention, target market c. Market intention, purchase potential, price d. Market potential, purchase intention, price
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market potential, purchase intention, price
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19. All of the following are stages in the product life cycle except: a. Growth b. Maturity c. Introduction d. Concept testing
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concept testing
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20. In which phase of the Product Life Cycle is customer awareness getting stronger, and there may be some buzz in the marketplace. a. Market introduction b. Decline c. Market growth d. Maturity
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market growth
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21. Company ABC is about to launch a fuller product line in an effort to satisfy more customer segments in the market. Given these activities, Company ABC's current product(s) is most likely in which stage of the product life cycle? a. Maturity b. Market introduction c. Decline d. Market growth
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maturity
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22. The _____________ are 3-5% of consumers who like to try new ideas and are willing to take risks. They tend to be relatively educated, and capable and confident in assessing information about a product on their own. a. Early adopters b. Innovators c. Early majority d. Laggards
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innovators
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23. The _________________ are more risk averse and waiting to hear that earlier adopters have had favorable experiences with the new product. a. Early adopters b. Late majority c. Innovators d. Early majority
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early majority
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24. _____________ is a path we take when we're settled on our product mix and we think there are more segment opportunities to target. a. Product development b. Market penetration c. Market development d. Diversification
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market development
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25. What growth strategy combines new markets and new products? a. Market penetration b. Product development c. Market development d. Diversification
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diversification
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26. Lee is the product manager for a software program sold by company ABC. IN evaluating the product, Lee determines that something just isn't right with how the software program is marketed to potential customers, and he feels a change is necessary. Which of the following marketing mix variables is easiest for Lee to change? a. Promotion b. Price c. Place d. Product
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price
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27. _____________ is greater when the item is a luxury good rather than a necessity, when many substitutes are available, or when the Purchase is a relatively big one. a. Price sensitivity b. Product sensitivity c. Place sensitivity d. Promotion sensitivity
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price sensitivity
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28. Which of the following formulas defines profit? a. (price X quantity)- (fixed costs)-(variable cost X quantity) b. price- quantity -(fixed costs x variable costs ) c. price + (quantity- fixed costs) X variable costs d. price x (quantity - fixed costs)+ variable costs
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(price X quantity)- (fixed costs)-(variable cost X quantity)
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29. If a change in price barely affect quantity demanded, that means the demand is _______. a. Supplied b. Inelastic c. Unstable d. Elastic
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inelastic
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30. Which of the following is NOT true about the price- sensitive segment? a. They are deal prone b. They will run to competitor if we raise prices c. If prices get too high they may completely drop out of the category d. They'll buy our brand no matter what
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they'll buy our brand no matter what
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31. If your fixed costs (including marketing, advertising, R&D, depreciation, etc.) are high relative to variable costs (which include labor per unit components), the strategic objective is to: a. Maximize per unit margins b. Eliminate advertising c. Maximize sales volume d. Raise the price as much as possible
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maximize sales volume
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32. (Price- variable cost) is also called___________. a. Profit b. Contribution per unit to fixed costs c. Maximize sales volume d. Fixed price units per contribution
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contribution per unit to fixed costs
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33. What is the marketing manager's favorite tool to studying pricing? a. Conjoint b. Surveys c. Scanner data d. Meta- analysis
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conjoint
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34. Profit maximization occurs when marginal revenue equals____________. a. Marginal profit b. Marginal sale c. Marginal costs d. Non of these
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marginal costs
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35. A price's role as a cue is so strong that prices are known to contribute to the formation of ___________ a. Beliefs b. Expectations c. Decisions d. Explanations
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expectations
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36. Big Time Products, Inc. sets high prices for its products, and the company seeks profit margin, not volume, in which strategy is Big Time Products engaged? a. Market production b. Market skimming c. Market penetration d. Price fixing
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market skimming
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37. What are temporary price cuts or the issuance of coupon referred to as? a. Price promotion b. Price sensitivity c. Price discrimination d. Price instability
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price promotions
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38. The idea that price is actually negotiated between the buyer and seller refers to which of the following terms? a. Fixed pricing b. Sensitivity pricing c. Dynamic pricing d. None of these
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dynamic pricing
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39. Selling company produces its product in batches of 100, yet its average customer only purchases ten at a time. In order to encourage sales, Selling Company must make their product available to be sold in smaller batches. This process is known as __________. a. Quantities b. Breaking bulk c. Limited goods d. None of these
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breaking bulk
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40. Pixar makes fun movies. What role does the movie theater play in the distribution channel? a. Manufacturer b. Distributer c. Retailer d. Customer
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retailer
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41. The ______ of channels is a network of suppliers and providers, and the _______ of channels is efficiency, scales, and consistency in positioning. a. Who, what b. What , who c. Why, what d. What, why
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what, why
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42. the downstream partners that help a company reach consumers comprise the _______. a. Supply chain b. Logistics c. Distribution channel d. Channel members
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channel members
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43. Tech Gadgets Co. is revamping its distribution strategy. If the goods manufactured by Tech Gadgets Co. are simple, inexpensive, easily transported, it is typical that they would be distributed widely and _____________. a. Selectively b. Comparatively c. Intensively d. Pushed
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intensively
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44. Some products are complicated ad expensive, and require the help of a sales person for a customer to make a purchase decision. These product, therefore, need to be distributed _________. a. Intensively b. Selectively c. Paradoxically d. Partially
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selectively
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45. In push marketing, the manufacturer targets ___________ rather than ________. a. Consumers, channel members b. Channel members, consumers c. Men, women d. Women, men
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channel members, consumers
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46. Apple computers used to be in the business of manufacturing only, but then they opened Apple Stores. This is an example of which of the following? a. Revenue sharing b. Forward integration c. Franchising d. Backward integration
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forward integration
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47. When different types of retailers are competing , its called_________ competition. a. Vertical b. Horizontal c. Sideways d. Upward
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horizontal
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48. The determination of the size of a sales force is usually done via some estimation of expected ___________. a. Price point b. Salary c. Workload d. Age of customers
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workload
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49. Specialty stores carry _______ but not __________. a. Services, goods b. Clothing, jewelry c. Depth, breadth d. Variety, customization
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depth, breadth
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50. Which channel function is most visible to the customer? a. Retailing b. Manufacturing c. Distributing d. Transporting
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retailing
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51. All elements of the marketing mix are important, but ____________ is the most direct communication link. a. Marketing b. Price c. Advertising d. place
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advertising
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52. When a marketer looks for his aids to have a holistic nature that is consistent across all media choices, he is using ____________. a. Comprehensive Marketing Communications b. Full Marketing Approach c. Integrated Marketing Communications d. Complete Marketing Solutions
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integrated marketing communications
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53. If the advertising goal is to increase awareness, what type of ad should be run? a. An ad with lots of humor b. An ad with lots of information c. An ad with celebrity endorsement d. An ad with a combination of information and action
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an ad with lots of information
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54. Which of the following is not a way marketers wish to affect consumers in advertising? a. Cognitions b. Affect c. Behaviors d. Passivity
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passivity
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55. When a brand is growing what should an ad campaign do? a. Develop the positivity of the attitudes toward the brand b. Inform the consumer about the brand c. Pull it from the market d. Remind consumers, " Hey, we are still here."
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develop the positivity of the attitudes toward the brand
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56. In a(n) ____________, the featured brand name is mentioned, as is the brand name of a competitor . a. Cognitive ad b. Non-comparative ad c. Comparative ad d. Emotional ad
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comparative ad
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57. ___________ is when a piece of information is conveyed by any type of source, expert or not. a. Source credibility b. Cultural meaning c. Sleeper effect d. Fear
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source credibility
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58. Which of the following ad types does NOT tend to be rational in content and processed cognitively? a. One-sided b. Comparative c. Dramas d. Image ads
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image ads
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59. if a competitor starts a price war, what should the company do? a. Cut prices b. Use an image ad c. Launce a comparative ad d. Use an emotional ad
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launch a comparative ad
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60. Memory is the primary consideration for measuring __________ results. a. Cognitive b. Affective c. Behavioral d. Thoughtful
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cognitive
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61. The idea that familiarity from repeated exposure to a brand, logo or ad will over time enhance the viewer's favorability toward the ad (and brand) refers to which term? a. Sleeper effect b. Affective c. Source credibility d. Mere exposure
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mere exposure
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62. Customer Insights Inc. operates a facility that recruits 8 to 10 consumers and screens them on criteria such a relevance to the target segment or usage in a product category. What type of research is Customer Insights, Inc. engaging in? a. Focus groups b. Sampling c. Online surveys d. Copy testing
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focus groups
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63. What term is used to describe an experiment run by an ad agency where the ad agency will recruit consumers to come watch a TV series and commercials? The consumer will then answer questions about the ads and the agency uses the responses to determine how well the ads will do in the real world. a. Focus groups b. Sampling c. Copy testing d. Ad concept testing
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copy testing
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64. There are two basic attitudes that marketers measure in evaluating ads. The first is attitude toward the ad. What is the second? a. Attitude toward the market b. Attitude toward the line extension c. Attitude toward the brand d. Attitude toward the company
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attitude toward the brand
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1.) Which of the following describes the general trend of proportion of ad spending sales
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a. As ad spending increases, sales increase
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2.) What term describes what marketers look for when evaluating the effectiveness of the ad.
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a. ROMI
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3.) In the past, according to Media and marketing research , after tv which media did people tend to use the most
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a. Radio
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4.) Donavan Sells sophisticated high tech products, He can best explain this product using which media
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a. Newspapers
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5.) Which medium yields the largest reach numbers?
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a. TV
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6.) Which is not one of the three questions that should be addressed when designing the sales force?
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a. How do I train them
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7.) For any ad, what is a question that needs to be answered?
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a. Who is the target audience
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8.) For ______ purchases the comparative and evaluation process may be nearly instantiou and quickly forgotten
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a. Low involvement
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9.) Evan visits a travel website
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a. Experience quality
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10.) Defined as a tradeoff of the quality of the purchase received compared to price
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a. Value
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11.) Scoring models are comprised of 3 values
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a. High purchase intention
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12.) Retention rates______ over time
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a. Drop
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13.) Which strategy in the Ansoff product market growth combines current markets and current products.
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a. Market penetration
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14.) 2 dimensions measured in the general electric model
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a. Market attractiveness and business strength
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15.) It is not unusual for a company to be more _______ in its youth and to age toward ______ when it has market share, sales and customers to protect/
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a. Aggressive , conservative
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16.) Kenneth is convinced that many indicators of his company's success exists, but is unsure of how to critically
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a. Marketing dashboard
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17.) Which of the following is not one of the four classes goals
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a. Being a leader
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18.) An early part of a marketing plan is an assessment of _____
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a. Where things currently are
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19.) In the spirit of a SWOT analysis, a company's strengths are defined somewhat relative to ______
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a. other providers in the market place
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20.) If we are assessing the macro environmental issues we must attend to , such as legal
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a. context
