Question 1

Without new products, a firm can:

Accepted Answer

only market to current customers or similar customers.

Question 2

Bob and George both live in the U.S. Bob recently asked for George\'s cell phone number, but George said he didn\'t have one. George would probably be considered a(n) _________________ in the diffusion of innovation process.

Accepted Answer

laggard

Question 3

Many of today\'s college graduates will make their livings providing goods and services to \"baby boomers,\" the large group of Americans born in the period after World War II. Baby boomers are a _________________ market segment.

Accepted Answer

demographic

Question 4

When travelers are bumped from overbooked flights, they are frequently offered vouchers good for future travel. The dollar value of the voucher is the airline\'s estimate of:

Accepted Answer

distributive fairness.

Question 5

Many restaurants offer daily specials, appetizers, entrees, and desserts not listed on their standard menu. These daily specials primarily provide the new product benefit of:

Accepted Answer

satisfying the changing needs of current and new customers.

Question 6

After hurricanes like Katrina, many small building contractors will flock to the damaged area charging whatever customers will pay for temporary repairs to roofs and other parts of damaged homes. These contractors are engaged in a ___________ marketing orientation.

Accepted Answer

transactional

Question 7

___________________ involves taking apart a product, analyzing it, and creating an improved product that does not infringe on the competitor\'s patents.

Accepted Answer

Reverse engineering

Question 8

A firm\'s product mix breadth is its:

Accepted Answer

number of product lines.

Question 9

When positioning products relative to competitors\' offerings, firms typically are most successful when they focus on opportunities:

Accepted Answer

that build on their strengths relative to those of their competitors.

Question 10

The four Ps comprise the marketing mix, which is the ______________ set of activities that the firm uses to respond to the wants of its target markets.

Accepted Answer

controllable

Question 11

Most banks implement customer retention programs aimed at their best customers. They do this because they know that retaining customers usually results in:

Accepted Answer

increased long term profits

Question 12

Denny is considering the question, \"Did our actions have a negative impact on any stakeholder group?\" Denny is addressing marketing ethical issues in the __________ phase of the strategic marketing planning process.

Accepted Answer

control

Question 13

Some universities offer online degree programs, competing with traditional colleges based on the convenience of taking online courses. These online programs are pursuing which macro strategy?

Accepted Answer

Locational excellence

Question 14

Which of the following brand strategies is being used when the local ice cream shop decides to add a new flavor to its menu?

Accepted Answer

a line extension

Question 15

When marketers state that services are _____________, they are referring to the fact that services are not always of the same quality from one time period to another or from one service provider to another.

Accepted Answer

variable

Question 16

Ryan wants to sell personal Web site services to American soldiers in Afghanistan. Because of the difficulty of communicating with people in a war zone, Ryan may have trouble with this segment not being:

Accepted Answer

reachable

Question 17

Google and other search engines allow marketers to bid to have their ads shown when consumers search on keywords related to the firm\'s products. These marketers are attempting to create value through _____.

Accepted Answer

promotion

Question 18

A university that has separate graduate and undergraduate admission offices recognizes that these are distinct:

Accepted Answer

product/service lines.

Question 19

Delivering the value proposition is also known as:

Accepted Answer

supply chain management.

Question 20

When Toyota owners began to report problems with sticking accelerator pedals and non-functioning brakes, Toyota at first ignored or rejected the claims. Eventually, the company evaluated the issue. Which of the four steps of the Ethical Decision-Making Framework was Toyota performing when it recalled several of its 2007-2010

Accepted Answer

Choose a course of action

Question 21

Which of the following is the correct sequence of new product adopters in the Diffusion of Innovation Curve?

Accepted Answer

Innovators, Early adopters, Early majority, Late majority, Laggards

Question 22

NASCAR redirected its marketing efforts when a survey indicated that almost fifty percent of race fans were female. This is an example of

Accepted Answer

demographic

Question 23

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.

Accepted Answer

decreasing product mix breadth

Question 24

The knowledge gap is where \"the rubber meets the road,\" where the customer directly interacts with the service provider T/F

Accepted Answer

false

Question 25

Zappos, an online shoe company, knows shoes are typically a ______________ good, with consumers often spending time comparing alternatives. They overcome that aspect of consumers\' search process by offering a free, no questions asked return policy.

Accepted Answer

shopping

Question 26

What type of event exposes retailers to large numbers of new products in a concentrated location?

Accepted Answer

trade shows

Question 27

In training service providers, service quality goals should be general to allow for the various needs of consumers. T/F

Accepted Answer

false

Question 28

When discussing the marketing planning process, STP stands for:

Accepted Answer

Segmentation, targeting, and positioning.

Question 29

Sean had moved to take a new job, and when he was feeling really sick, he needed to find a doctor. He discovered during the visit that he didn\'t like the one he had chosen, and he knew he\'d never go back to that doctor. From a marketing perspective, his situation highlights one of the key differences between products and services, known as _________________.

Accepted Answer

inseparability

Question 30

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 Burton is a(n) ______________ in the diffusion of innovation process for telephones.

Accepted Answer

laggard

Question 31

For products like pencils and paperclips, which provide the same benefit for all consumers, marketers should probably use a(n):

Accepted Answer

undifferentiated targeting strategy.

Question 32

In the \"West Virginia Tee Shirts\" scenario, the company is asked by the governor of West Virginia to stop selling tee shirts with the slogan, \"It\'s All Relative in West Virginia,\" stating that the slogan is offensive and perpetuates a negative stereotype. The communications director for the tee shirt company, a resident of New Hampshire, points out that they also sell a shirt reading, \"New Hampshire: 40 Million Squirrels Can\'t Be Wrong.\" The communications director\'s response uses the ________________ test of ethical action.

Accepted Answer

golden rule

Question 33

If a U.S. clothing brand buys from overseas suppliers who manufacture clothing using child labor, this is the supplier\'s problem, and the U.S. company has no reason to be concerned. T/F

Accepted Answer

false

Question 34

The building block of service quality called ________ refers to the ability of the firm\'s employees to convey trust and confidence.

Accepted Answer

assurance

Question 35

The diffusion of innovation theory focuses on:

Accepted Answer

the rate at which consumers are likely to adopt a new product or service.

Question 36

Corporate social responsibility refers to the coordinated actions of the federal and many state governments to address the ethical, social and environmental impacts of business operations. T/F

Accepted Answer

false

Question 37

Which of the following is the best way to build a sustainable competitive advantage using product excellence?

Accepted Answer

Positioning the product using a clear, distinctive brand image.

Question 38

After a firm has identified the various stakeholders and their issues and gathered available data related to an ethical decision making situation, all parties relevant to the decision should engage in

Accepted Answer

brainstorming and evaluation of alternatives.

Question 39

Small start-up companies are unable to control their marketing mixes. T/F

Accepted Answer

false

Question 40

One afternoon, the clerk at the customer service desk of a large retail store got bored and started stating different return policies to each customer. Customers waiting in line and overhearing the different policies would probably feel that the store\'s handling of returns lacked:

Accepted Answer

procedural fairness

Question 41

A friend of yours comments, \"I\'m starting my own business. I have a perfect product that no one else can touch, but I have no use for marketing. That\'s just for the mega-corporations.\" Which of the following arguments would you NOT use in talking about marketing?

Accepted Answer

Marketing isn\'t essential now, but it will be in a year or two when the product takes off

Question 42

People who initiate, organize, operate and assume the risk of a business venture are called:

Accepted Answer

entrepreneurs

Question 43

Retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts. Retailers function as:

Accepted Answer

market intermediaries.

Question 44

Coca-Cola introduced Coke Zero to increase sales without taking away from its existing product sales. Which of the following is NOT true about this effort?

Accepted Answer

Segmentation and targeting were of little use compared to developing special advertising.

Question 45

Relatively few consumers like to go to the dentist. Dental insurance plans that pay for regular check ups increase the ________________ of dental care by reducing the cost to the consumer.

Accepted Answer

perceived value

Question 46

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:

Accepted Answer

awareness.

Question 47

By setting appropriate service standards and measuring service performance, firms can attempt to close a _______________ gap.

Accepted Answer

standards

Question 48

The pharmaceutical industry often justifies the high prices for new drugs by arguing that they research as many as one hundred new compounds before they come up with one _______________, an extremely successful product that pays for the costs associated with the other attempts to develop new products.

Accepted Answer

blockbuster

Question 49

Toothpastes sold in supermarkets and pharmacies promise various results, such as whiter teeth, protection against gum disease, tartar control, or fresh breath. Toothpaste marketers are using ________________ segmentation.

Accepted Answer

benefit

Question 50

Braddock University allows recent graduates to come back and take additional courses for free. By offering additional educational services, the university is enhancing its _____________ in an attempt to create value for its customers.

Accepted Answer

product strategy

Question 51

After observing a customer verbally abuse a waiter, the first thing a manager can do to ensure quality service is to:

Accepted Answer

provide emotional support to the waiter.

Question 52

When selecting a target market, firms should attempt to:

Accepted Answer

match the firm\'s competencies with a market segment\'s attractiveness.

Question 53

A _______________ gap exists when a firm knows what they need to do to meet customers\' service expectations but sometimes fails to do it.

Accepted Answer

delivery

Question 54

A survey of marketing officers reported that the most frequently observed type of unethical behavior was false or misleading advertising. T/F

Accepted Answer

false

Question 55

Early personal computer users remember the cumbersome, user-unfriendly \"DOS\" system. When Apple introduced System 1 and Microsoft introduced Windows, both of which were much easier to use, these new products diffused rapidly because of their:

Accepted Answer

relative advantage.

Question 56

When firms successfully implement poor strategies (perhaps due to good luck) or do a poor job of implementing good strategies, it can be difficult to:

Accepted Answer

evaluate performance and make adjustments.

Question 57

Which of the following describes a situation in which a company conducts research to understand what potential employees are seeking, as well as what they think of the company?

Accepted Answer

employment marketing

Question 58

Sally is in the new marketing department of a mid-sized lawn and garden company. She is working on the first marketing plan the firm has ever used. She has defined the mission and objectives, and she just finished a situation analysis for the firm. The next step is to:

Accepted Answer

identify and evaluate opportunities by conducting segmentation, targeting and positioning analysis.

Question 59

For a major university, undergraduate studies, graduate studies, and professional programs would be ____________________ within the university\'s product mix.

Accepted Answer

product lines

Question 60

When a car manufacturer sells trucks, cars, and car parts to the government or military, this is an example of B2C marketing. T/F

Accepted Answer

false

Question 61

Carlos has identified four potential market segments for his Rent-A-Chef home meal catering service. He will now compare the segments to see if they are different enough from each other. Carlos is evaluating whether or not each segment is:

Accepted Answer

identifiable

Question 62

Ella had been using an imported brand of shampoo for several years, but she could no longer find it anywhere. As she was considering what kind of shampoo to try, she was surprised to see ads for Procter & Gamble\'s Head and Shoulders, which was being promoted as a glamorous health-oriented product. She had always thought of Head and Shoulders as an anti-dandruff shampoo. The new ads suggest that Head & Shoulders has been:

Accepted Answer

rebranded

Question 63

An excellent, inexpensive, and readily accessible method for assessing customers\' service expectations is:

Accepted Answer

customer complaints.

Question 64

In the \"Who is On the Line?\" scenario, Star38\'s new software hides or provides a phony phone number on caller ID systems. The company intends to sell its service to collection agencies, private detectives, and law enforcement agencies. If a collection agency is considering using the system, the first ethical question it should ask itself is:

Accepted Answer

Will using this service conflict with the ethical guidelines in our mission statement?

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