MKTG Midterm - Flashcards | StudyHippo.com

question

When a T-shirt manufacturer states, "We sell it only in black because that way we can buy plenty of black fabric and run our plant efficiently," its statement reflects the views that were popular in which era of the evolution of marketing? A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. economics-oriented

answer

A. production-oriented

question

Marketing involves all of the following except A. conducting exchanges. B. satisfying customer needs and wants. C. creating value. D. efforts by individuals and organizations. E. production scheduling.

answer

E. production scheduling.

question

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? A. satisfying customer needs and wants B. completing the exchange function of marketing C. making product, place, promotion, and price decisions D. making decisions about the setting in which marketing takes place E. creating value

answer

A. satisfying customer needs and wants

question

Julia is considering a career in marketing. She is concerned about the image of marketers as fast-talking, high-pressure people who care only about making a sale. When reading about the core aspects of marketing, Julia is relieved to see that in marketing A. all parties to an exchange should be satisfied. B. promotion is the most important consideration, followed by pricing decisions. C. decisions are made regarding how a product is designed. D. customers are not considered until the product is ready for sale. E. distribution is controlled by customers.

answer

A. all parties to an exchange should be satisfied.

question

Xavier is analyzing potential market segments. He should carefully seek potential customers who have both an interest in his products and A. a thorough knowledge of his brand messages. B. the ability to buy them. C. knowledge of competing products. D. the ability to negotiate discounts. E. are removed from traditional marketing alternatives

answer

B. the ability to buy them.

question

When referring to "exchange," marketers are focusing on A. the location where products and services are traded. B. the price charged, adjusted for currency exchange rates. C. location-based tactics for creating value. D. promotional offers designed to stimulate barter. E. the trading of things of value.

answer

E. the trading of things of value.

question

Whenever Valerie has a new massage therapy customer, she invites the person to be on her e-mail distribution list. In the process, in addition to exchanging her massage therapy service for payment, Valerie is gathering A. information. B. promotional capital. C. pricing data. D. value cocreation. E. feedback.

answer

A. information.

question

Which of the following is a core aspect of marketing? A. satisfying as many needs as possible B. creating a product that everyone will want to buy C. setting prices lower than all competitors D. making product, place, promotion, and price decisions E. increasing the company's profit

answer

D. making product, place, promotion, and price decisions

question

Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following except A. product. B. place. C. performance. D. promotion. E. price.

answer

C. performance.

question

The four Ps make up the marketing mix, which is the __________ set of activities that the firm uses to respond to the wants and needs of its target markets. A. unpredictable B. external C. internal D. controllable E. global

answer

D. controllable

question

The fundamental goal of marketers when creating goods, services, or combinations of both is to A. defeat the competition. B. serve all consumers. C. operate according to government regulations. D. stimulate short-term sales. E. create value.

answer

E. create value.

question

Brian is struggling with the choice of publishing his new book, How to Cook Polish Barbeque, as an e-book or a paperback. Brian is addressing which core marketing aspect? A. developing a promotional plan B. managing the exchange function of marketing C. making product decisions D. deciding where and how to sell the product E. pricing the product

answer

C. making product decisions

question

The basic difference between a good and a service is that a good A. provides intangible benefits. B. can be physically touched. C. is always less expensive than a corresponding service. D. generates greater interest among consumers. E. is more quickly forgotten by consumers.

answer

B. can be physically touched

question

Four Winds Art Gallery recently began offering appraisals of customers' art collections, in addition to continuing to sell paintings. Four Winds is A. expanding from offering just services to also offering goods. B. implementing a market segmentation strategy. C. capturing value through multiple pricing strategies. D. expanding from offering just goods to also offering services. E. increasing customer value through inflated appraisal evaluations.

answer

D. expanding from offering just goods to also offering services.

question

Marketers must determine the price of a product carefully, based on potential buyers' beliefs about A. its value. B. the environment. C. the cost to manufacture the product. D. the economic outlook. E. the product's new advertising campaign.

answer

A. its value.

question

Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes A. only the actual price they pay at the register. B. the value of their time and energy. C. the excitement they experience in finding an item they desire. D. the savings to the store of not having to display the products neatly on shelves. E. the time the product was full price and didn't sell.

answer

B. the value of their time and energy.

question

Henriette offers financial counseling and management on a fee-only basis. She has found that different customers are willing to pay different rates for her services. This shows that her pricing decisions should depend primarily on A. choosing an average price that she will charge all her clients. B. changes in technology allowing consumers to manage their own affairs. C. how different customers perceive the value of her services. D. changes in the economy. E. how much her competitors charge for similar services.

answer

C. how different customers perceive the value of her services.

question

Marketing channel management is also known as A. endless chain marketing. B. a transactional orientation. C. wholesaling. D. production management. E. supply chain management.

answer

E. supply chain management.

question

Marketing efforts designed to get the product or service to the right customer, when that customer wants it, are called A. supply chain management. B. a transactional orientation. C. wholesaling. D. value cocreation. E. endless chain marketing.

answer

A. supply chain management.

question

Yesenia, the new university course scheduling manager, is struggling with adjustments to the fall schedule. She is trying to determine how to offer the classes students need at the times when students need them. Yesenia is struggling with the marketing function of A. communicating the value proposition. B. managing the supply chain. C. creating value. D. capturing value. E. cocreating value.

answer

B. managing the supply chain.

question

The marketing goal of getting the "right quantities to the right locations, at the right time" relates to A. communicating the value proposition. B. managing the supply chain. C. performing service marketing. D. capturing value. E. managing price and performance.

answer

B. managing the supply chain.

question

Marketers involved in value-oriented marketing are constantly balancing A. promotional effectiveness with ethical advertising standards. B. the problem of price maximization with cost-efficiency. C. perceived customer benefits with the costs of their offerings. D. the desire to achieve with the need for a stable source of supply. E. the goal of efficiency with the price charged by competitors.

answer

C. perceived customer benefits with the costs of their offerings.

question

The importance of supply chain management is often overlooked in the study of marketing because A. marketing has no responsibility for supply chain management. B. supply chain management doesn't add much value for customers. C. companies do not want customers to know anything about the supply chain. D. many of the activities take place behind the scenes. E. supply chain management is already transparent.

answer

D. many of the activities take place behind the scenes.

question

Which element of the marketing mix deals with supply chain management? A. product B. price C. promotion D. production E. place

answer

E. place

question

UPS, FedEx, DHL, and other shipping companies support other firms' __________ marketing goals. A. supply chain management B. value communication C. value capture D. retail management E. promotion

answer

A. supply chain management

question

__________ is communication by a marketer that informs, persuades, or reminds potential customers about a product. A. Pricing B. Promotion C. Placement D. A relational orientation E. Value cocreation

answer

B. Promotion

question

Effective promotion enhances a product or service's A. supply chain management system. B. wholesaling capabilities. C. perceived value. D. design features. E. trialability.

answer

C. perceived value.

question

By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to A. influence social norms regarding sexuality. B. encourage consumers to participate in product redesign. C. stimulate supply chain management cooperation. D. increase the perceived value of its products. E. demonstrate social responsibility.

answer

D. increase the perceived value of its products.

question

When retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts it is considered _______ marketing. A. B2C B. B2B C. R2C D. C2C E. C2B

answer

A. B2C

question

By allowing consumers to sell their unwanted goods to other consumers, auction sites like eBay cater to __________ marketing. A. B2B B. C2C C. D2C D. C2D E. B2G

answer

B. C2C

question

As use of the Internet took off, car manufacturers were tempted to sell directly to consumers, but decided instead to continue to sell through their existing dealer networks. The car manufacturers considered switching from __________ to __________ marketing. A. B2C; B2B B. B2C; C2C C. B2B; B2C D. B2B; C2C E. C2C; B2C

answer

C. B2B; B2C

question

Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students. These bulletin boards increase __________ marketing. A. B2C B. C2B C. B2B D. C2C E. underground

answer

D. C2C

question

The "Got Milk" advertising campaign, designed to increase consumption of milk, was intended to help market a(n) A. service. B. firm. C. industry. D. organization. E. specific product.

answer

C. industry.

question

The evolution of marketing progressed along the following continuum: A. sales, marketing, value-based marketing, production. B. marketing, value-based marketing, production, sales. C. value-based marketing, production, sales, marketing. D. production, sales, marketing, value-based marketing. E. sales, value-based marketing, marketing, production.

answer

D. production, sales, marketing, value-based marketing.

question

The idea that a good product will sell itself is associated with the __________ era of marketing. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

answer

A. production-oriented

question

Henry Ford's statement, "Customers can have any color they want so long as it's black," typified the __________ era of marketing. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

answer

A. production-oriented

question

Melanie works for a small computer software company. Her boss is constantly improving the company's products but neglects customers, billing, and promoting the company. Her boss is probably stuck in the __________ era of marketing. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

answer

A. production-oriented

question

During the __________ era, firms had excess capacity and used personal selling and advertising to generate customers. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

answer

B. sales-oriented

question

The prevailing marketing strategy of the __________ era was to find customers for inventories that went unsold. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

answer

B. sales-oriented

question

Near the end of the model year, Move-Them-Out automobile dealership had an unusually high inventory level. The manager increased her advertising spending and gave extra incentives to its salespeople. Move-Them-Out operates as if it were in the __________ era. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

answer

B. sales-oriented

question

Many U.S. companies first discovered marketing during the __________ era. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

answer

C. market-oriented

question

Which of the following statements reflects the philosophy of the market-oriented era? A. A good product will sell itself. B. The customer is king. C. Firms should take advantage of a seller's market. D. Advertising and personal selling should be emphasized in order to make the sale. E. Firms should focus on value.

answer

B. The customer is king.

question

During the __________ era, manufacturers and retailers began to focus on what consumers wanted and needed before they designed, made, or attempted to sell their products. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

answer

C. market-oriented

question

During the __________ era, manufacturers and retailers recognized they needed to give their customers greater value than their competitors did. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

answer

D. value-based marketing

question

Value is A. the lowest cost option. B. represented by brand names. C. the highest-priced alternative. D. everyday low prices. E. what you get for what you give.

answer

E. what you get for what you give.

question

Trey sells consumer electronics. He knows his customers weigh the costs versus the benefits associated with the different options available. He decides which products to offer and what prices to charge based on the way his customers think. Trey operates as if he were in the __________ era. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

answer

D. value-based marketing

question

Serena studies her customer profiles, market research data, complaints, and other information, attempting to better understand what her customers want. Serena most likely operates in the __________ era of marketing. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

answer

D. value-based marketing

question

73. In delivering value, marketing firms attempt to find the most desirable balance between A. the need for value and the perception of value. B. explicit versus implicit value. C. the need to provide benefits to customers and keep down costs. D. the desire to satisfy customers and the desire to satisfy employees. E. the need for product improvement and the need for advertising.

answer

C. the need to provide benefits to customers and keep down costs.

question

Yolanda is the new restaurant manager in a major hotel. When considering changes in the restaurant that will increase value to customers, Yolanda will likely attempt to either provide the same quality at a lower cost or A. improve products and services at the same cost. B. increase prices to increase revenue. C. offset higher hotel rates with lower restaurant prices. D. reduce customer expectations through reduced service. E. lower the quality and the price.

answer

A. improve products and services at the same cost.

question

Christie has just started with a travel agency, and she has been offering clients and prospective clients a range of packaged tours. She is concerned, because the commissions she is earning on her sales are lower than she had hoped. Her colleague Peter, who has been with the agency for several years, is having a great deal of success by working closely with the clients, seeking their ideas, and building customized tour packages for each one based on their suggestions. Peter's approach is based on A. transaction-oriented marketing. B. premium pricing. C. his seniority at the firm. D. special incentives from tour operators. E. value cocreation.

answer

E. value cocreation.

question

To become a more value-driven organization, Pokrah University is holding regular coffee-hour discussions with its students and surveying its graduates regarding students' educational needs and desires. By doing so, Pokrah University is becoming more value driven through A. sharing information across the organization. B. balancing its customers' benefits and costs. C. evaluating strategic competitive partnerships. D. building relationships with customers. E. keeping the faculty members happy.

answer

D. building relationships with customers.

question

As owner of a retail franchise food store, Mary Gray purchases supplies based on specials advertised nationally throughout the franchise system. One Monday, she was surprised to find customers asking for specials she hadn't been informed of in advance. The franchise company failed to live up to the value-driven activity of A. sharing information across the organization. B. balancing customers' benefits and costs. C. evaluating strategic competitive partnerships. D. building relationships with customers. E. keeping prices below those charged by competitors.

answer

A. sharing information across the organization

question

In the past, manufacturer's representatives did not have real-time inventory data about the products they were selling. Today, manufacturer's representatives are often provided online access to inventory data for the companies they represent. These online inventory systems allow companies to become more value driven by A. sharing information across the organization. B. balancing customers' benefits and costs. C. evaluating strategic competitive partnerships. D. building relationships with government regulators of marketing institutions. E. keeping prices below those charged by competitors.

answer

A. sharing information across the organization.

question

Value-driven firms constantly measure the __________ that customers perceive, compared to the prices of their offerings. A. information B. benefits C. relationships D. rebates E. merchandise

answer

B. benefits

question

One of the benefits of value-driven marketing is that attention to customer needs and wants will likely result in A. higher prices than the market leader charges. B. increased competition. C. long-term relationships. D. strong connections among competing firms in the marketplace. E. lower prices.

answer

C. long-term relationships.

question

Even though they operate from out-of-the-way airports and offer few extra services, discount, no-frill airlines like Ryanair and EasyJet have been successful. Consumers obviously consider A. the extra services offered by these airlines to be the most thorough in the industry. B. the long-term relationships established by these airlines to be a critical benefit. C. the prices to be slightly lower, but not low enough to have much influence. D. the benefit of lower prices to be greater than the cost of reduced services and less convenience. E. the major airlines to be worthless.

answer

D. the benefit of lower prices to be greater than the cost of reduced services and less convenience.

question

A relational orientation is based on the philosophy that buyers and sellers develop A. a complete understanding of one another's needs. B. a long-term relationship. C. a price-value comparison matrix. D. supply chain synergy. E. a marketing value transaction focus.

answer

B. a long-term relationship.

question

A local art gallery keeps information on its customers regarding their preferences for certain artists as well as the style of art that interests them. The gallery uses this information to inform the customers when new products arrive from their favorite artists and targets them with special promotions. In this way, the gallery is using _______ to build loyalty among its customers. A. value cocreation B. customer relationship management C. transactional marketing D. B2B marketing E. the supply chain

answer

B. customer relationship management

question

If a firm adopts a CRM business philosophy, it most likely has a(n) _______ orientation with its customers. A. transactional B. external C. relational D. internal E. divisional

answer

C. relational

question

After major hurricanes like Katrina, many ethical home repair and building supply businesses continue to charge pre-hurricane prices to their customers, even though due to the huge increase in demand they could charge much more. These firms probably recognize that A. they can make more money from government contracts than from sales to customers. B. a transactional orientation is the key to long-term profitability. C. none of their competitors would be raising prices. D. lifetime profitability of relationships matters more than profits from a particular transaction. E. if they raised prices they would be in violation of Commerce Department regulations.

answer

D. lifetime profitability of relationships matters more than profits from a particular transaction.

question

What is the focus of a firm that develops a relational orientation with its customers? A. relating product knowledge to customer's interests B. gaining profit from each customer transaction C. generating profits quickly before customers shop elsewhere D. working with competitors to simplify product offerings for customers E. gaining lifetime profitability from customer relationships

answer

E. gaining lifetime profitability from customer relationships

question

The goal of customer relationship management is to A. manage every customer relationship differently. B. manage every customer relationship to maximize short-term profitability. C. eliminate customers who are profitable, but not highly profitable. D. identify and build loyalty among a firm's most valued customers. E. generate relationships with competitor's customers.

answer

D. identify and build loyalty among a firm's most valued customers.

question

Franco uses a database software system to remind him when his customers should be ready to reorder his industrial cleaning products. With this reminder system, Franco contacts his customers when they are most likely to be "in the buying mode." Franco's system is part of A. C2C marketing. B. customer relationship management. C. a transactional marketing orientation. D. supply chain management. E. typical production era marketing practices.

answer

B. customer relationship management.

question

89. Many catalog companies create special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. This is an example of A. C2C marketing. B. customer relationship management. C. a transactional marketing orientation. D. supply chain management. E. typical production-oriented era marketing practices.

answer

B. customer relationship management.

question

It was during the market-oriented era that firms first discovered "marketing." In what timeframe did this occur? A. around the turn of the 20th century B. shortly before the Great Depression C. just after World War II D. during the Roaring Twenties E. during the civil rights movement

answer

C. just after World War II

question

Many inventors struggle with the question, "I made it; now how do I get rid of it?" They have made the error of considering marketing as A. an afterthought. B. an integral part of a business plan. C. an accounting function. D. a profit center. E. important only for new products.

answer

A. an afterthought.

question

Georgia, the outside sales rep for a major building supply company, reads a report stating that building permits are down dramatically in her sales territory. She had noticed that things were slowing down, but now she has data confirming her impression. Based on this information, Georgia will help her company become more value driven if she A. pushes her customers to buy products whether they need them or not. B. advises the production and purchasing departments to produce or order smaller quantities of products. C. avoids contacting her customers until the slowdown ends. D. avoids contact with competing firms in order to maximize value-driven marketing. E. keeps the information to herself.

answer

B. advises the production and purchasing departments to produce or order smaller quantities of products.

question

Jenny, the delivery and sales representative for a beer distributor, is calling on a retailer and sees the shelves are almost empty. An unexpected sporting event held nearby resulted in a huge increase in sales. She calls her company's distribution manager and requests a special delivery for her customer. Jenny is providing the important marketing function of A. advising production on how much product to make. B. alerting the logistics department when to ship products. C. advising the customer about new products and markets. D. identifying opportunities to expand. E. synthesizing and interpreting sales, accounting, and customer-profile data.

answer

B. alerting the logistics department when to ship products.

question

After the previous sales representative in his territory infuriated an important customer, Benjamin visited the customer once a month, never asking for business but hoping to rebuild trust through listening and expressing concern. Finally, after more than two years, the customer gave Benjamin an order. Benjamin was providing the important marketing function of A. advising production on how much product to make. B. alerting the logistics department when to ship products. C. engaging customers and developing long-term relationships. D. identifying opportunities to expand. E. synthesizing and interpreting sales, accounting, and customer-profile data.

answer

C. engaging customers and developing long-term relationships

question

Which of the following best represents how marketing expands firms' global presence? A. when companies hire employees from different backgrounds and cultures B. when companies manufacture and sell their products all over the world C. when companies see a product manufactured overseas and decide to produce it domestically D. when companies require their employees to learn a foreign language E. when companies adhere to government restrictions in overseas markets

answer

B. when companies manufacture and sell their products all over the world

question

Leah is the marketing manager for an electronics company. While on vacation in Ecuador, she visited electronics stores in the major malls in Quito, the capital city. Most of her company's products were available, except for smartphones. When she returned to work, she mentioned this observation to her international sales manager. Leah was providing the important marketing function of A. advising production on how much product to make. B. alerting the logistics department when to ship products. C. engaging customers, developing long-term relationships. D. identifying opportunities to expand. E. synthesizing and interpreting sales, accounting, and customer-profile data.

answer

D. identifying opportunities to expand.

question

97. Greenbelt Construction has been a successful small home-building firm for years. The owner pays subcontractors slightly more than the usual rate for different tasks, reducing the company's gross margin. Greenbelt rarely changes subcontractors, has relatively few complaints from home buyers, and is able to get quick responses from subcontractors when buyers do have problems. Greenbelt is engaged in A. a traditional transactional orientation. B. C2C value-driven marketing. C. effective supply chain management. D. value cocreation. E. a virtual monopoly.

answer

C. effective supply chain management.

question

Marketing enriches society by A. focusing solely on maximizing profits. B. sponsoring charitable events. C. recognizing that the firm can do very little by itself, and so it should stay focused on its own core competencies. D. facilitating the smooth flow of goods through the supply chain. E. coordinating marketing functions with other functional areas in the company.

answer

B. sponsoring charitable events.

question

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? A. Marketing helps new ventures organize, operate, and assess risk. B. Marketers help address unmet customer needs, regardless of the size of the firm. C. Marketing focuses on the product, but only as one element. Three other areas are promotion, price, and place. D. Marketers are skilled at communicating the value of the product to potential customers. E. Marketing isn't essential now, but it will be in a year or two when the product takes off.

answer

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

question

When we say that marketing can be entrepreneurial, it means that entrepreneurs A. attempt to mimic existing products on the market. B. strive to satisfy unfilled needs. C. raise social consciousness. D. gain monopoly power. E. push new technology even if people aren't ready for it.

answer

B. strive to satisfy unfilled needs.

question

People who initiate, organize, operate, and assume the risk of a business venture are called A. entrepreneurs. B. leaders. C. managers. D. professionals. E. consultants.

answer

A. entrepreneurs.

question

If a radio station holds an online contest in which you must log in to its website and submit personal details such as name, phone number, and email in order to participate, the radio station is A. offering an exchange. B. behaving unethically. C. hoping to receive feedback. D. implementing a CRM program. E. overstepping its role.

answer

A. offering an exchange.

question

In marketing terms, the trade of things of value between the buyer and the seller so that each is better off as a result is referred to as A. a marketing exchange. B. value cocreation C. the marketing mix. D. a value transaction.

answer

A. a marketing exchange.

question

Traditionally, marketing activities have been divided into product, price, place, and promotion. Select the term that best describes the four Ps. A. marketing mix B. marketing channel C. marketing plan D. marketing era E. marketing implementation

answer

A. marketing mix

question

Internet sites, physical stores, and kiosks are most closely associated with which element of the marketing mix? A. place B. price C. product D. promotion E. proximity

answer

A. place

question

The primary purpose of the __________ plan is to specify the marketing activities for a specific time. A. marketing B. business C. strategic D. organizational E. resource

answer

A. marketing

question

The process of value __________, in which customers collaborate in product design, often provides additional value to the firm's customers. A. cocreation B. positioning C. delivery D. chain management E. -based marketing

answer

A. cocreation

question

How a product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer are all elements of A. a marketing plan. B. a marketing exchange. C. supply chain logistics. D. production management. E. delivery of the value proposition.

answer

A. a marketing plan.

question

The activity, set of institutions, and process for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is called A. marketing. B. marketing research. C. market share analysis. D. market segmentation. E. market positioning.

answer

A. marketing.

question

Jeff is going to sell sporting apparel, which he has already purchased from manufacturers, and has signed a deal agreeing to the volume he will sell monthly. He has researched his competition, talked to some customers, and decided on prices he will charge. Jeff has also developed a plan for promoting his business. Based on this description, which element of the marketing mix does Jeff still need to work on? A. place B. product C. price D. promotion E. planning

answer

A. place

question

Jeff opened a sporting apparel store and signed a lease on the property. He also signed an agreement with the manufacturer on the amount of merchandise he will sell and the promotions he will conduct. Based on this description, which aspect of the marketing mix does he still need to work on? A. price B. place C. Promotion D. product E. Prototype

answer

A. price

question

At one point in the evolution of marketing, the United States entered a buyer's market and the customer became king. Which era is being described? A. market-oriented B. sales-oriented C. production-oriented D. value-based marketing E. economics-oriented

answer

A. market-oriented

question

Supply chain management is also referred to as A. delivery management. B. marketing channel management. C. production management. D. retail management. E. value proposition management.

answer

B. marketing channel management.

question

Marketing channel management is related to which of the four Ps? A. product B. price C. place D. promotion E. production

answer

C. place

question

Marney bought a dress from a retail store. Which type of transaction was Marney participating in? A. B2B B. C2C C. B2C D. R2C E. C2B

answer

C. B2C

question

According to your text, in the broadest terms, the "marketplace" refers to A. wholesale and retail environments. B. brick-and-mortar stores and the Internet. C. the four Ps. D. channels that are accessible to a given customer. E. the world of trade.

answer

E. the world of trade.

question

Which element of the marketing mix is most relevant to the activity "capturing value"? A. promotion B. purchasing C. product D. price E. place

answer

D. price

question

Which element of the marketing mix is most relevant to the activity "delivering value"? A. promotion B. purchasing C. product D. price E. place

answer

E. place

question

Which element of the marketing mix is most relevant to the activity "creating value"? A. promotion B. purchasing C. product D. price E. place

answer

C. product

question

Which marketing activity is most directly served by the promotion element of the marketing mix? A. communicating value B. creating value C. capturing value D. delivering value E. producing value

answer

A. communicating value

question

Janine was tired of her winter coat, so she sold it to her friend, Marissa. This is an example of ________ marketing. A. B2B B. B2C C. C2B D. C2C E. BBC

answer

D. C2C

question

If a firm wants to develop a sustainable competitive advantage, it should A. begin an aggressive campaign to buy up competitors. B. copy the innovative features of other firms that are attractive to customers. C. examine its operations and customer relations to identify significant things competitors cannot easily copy. D. increase its marketing budget so that it outspends its competitors. E. arrange to meet with competitors to discuss how to avoid direct competition.

answer

C. examine its operations and customer relations to identify significant things competitors cannot easily copy.

question

Which of the following is not one of the four overarching strategies to create and deliver value and to develop sustainable competitive advantages? A. locational excellence B. customer excellence C. operational excellence D. product excellence E. planning excellence

answer

E. planning excellence

question

When Ramona, the keynote speaker at a major business leaders' conference, arrived in the middle of the night at the Ritz-Carlton, she was exhausted and her suit was wrinkled from her 10-hour plane trip. The night clerk found someone to dry clean Ramona's suit and have it ready for her morning presentation. She has been a loyal Ritz-Carlton customer ever since. In this example, Ritz-Carlton demonstrated the macro strategy of A. customer excellence. B. operational excellence. C. product excellence. D. promotional excellence. E. global excellence.

answer

A. customer excellence.

question

Taking steps to encourage customer loyalty is the focus of developing the macro strategy of _______ excellence. A. operational B. locational C. customer D. product E. service

answer

C. customer

question

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 A. that operational excellence is an important macro strategy. B. the lifetime value of customers. C. that product excellence leads to loyal customers. D. the importance of making decisions based on short-term results. E. that as long as customers bring in some revenue, costs do not matter.

answer

B. the lifetime value of customers.

question

Nordstrom, an upscale department store, has a well-known reputation for going the extra mile to serve its customers. This reputation for excellent customer service will most likely result in A. product design excellence. B. mission statement satisfaction. C. sustainable price decreases. D. a sustainable competitive advantage. E. producer excellence.

answer

D. a sustainable competitive advantage.

question

Firms achieve ___________ through efficient procedures and excellent supply chain management. A. customer excellence B. locational excellence C. customer loyalty D. value-based pricing E. operational excellence

answer

E. operational excellence

question

Marketers want their firms to develop excellent supply chain management and strong supplier relations so they can A. persuade stores to refuse to carry competitors' products. B. use their power within the supply chain to force weaker firms to accept less favorable pricing. C. control prices and lock in margins. D. create a sustainable competitive advantage. E. justify charging higher prices than competitors do.

answer

D. create a sustainable competitive advantage

question

For many years, Southwest Airlines distinguished itself as the low-cost airline. Now, many other low-cost competitors have entered the market. Similarly, Southwest was one of the first airlines to offer online ticketing. Now, all airlines have online ticketing. These examples suggest that A. no single strategy is likely to be sufficient to build a sustainable competitive advantage. B. a situation analysis does not accurately predict a firm's strengths. C. customer excellence cannot be achieved. D. product excellence is the only true source of a sustainable competitive advantage. E. innovation is pointless because competitors will develop copycat offerings.

answer

A. no single strategy is likely to be sufficient to build a sustainable competitive advantage.

question

"Effective marketing doesn't just happen." It is A. promoted through STP analysis. B. possible only for seasoned marketing executives to achieve. C. planned. D. introduced through control phase SBUs. E. the result of competitor's failures.

answer

C. planned.

question

Carla has been directed by her regional marketing manager to cut prices on seasonal items, place 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? A. evaluate performance B. define the business mission C. perform situation analysis D. implement marketing mix and resources E. identify and evaluate opportunities

answer

D. implement marketing mix and resources

question

When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged? A. planning B. implementation C. control D. segmentation E. metrics

answer

A. planning

question

The automobile manufacturing industry closely watches annual consumer satisfaction surveys. For years, Japanese car companies consistently had the highest levels of customer satisfaction, creating a(n) ________ for these companies. A. strategic marketing plan B. clear mission statement C. operational advantage D. sustainable competitive advantage E. diversification strategy

answer

D. sustainable competitive advantage

question

Which of the following is least likely to provide a sustainable competitive advantage? A. lowering prices B. having a well-known brand name C. achieving high levels of customer satisfaction D. using patented technology E. creating an efficient supply chain

answer

A. lowering prices

question

Even when large discount retailers enter a market, a few small, local retailers survive and prosper. These small retailers have probably developed a(n) ________ that allows them to survive. A. advertising campaign B. plan to evaluate results C. sustainable competitive advantage D. set of performance metrics E. SWOT analysis

answer

C. sustainable competitive advantage

question

As part of her company's SWOT analysis, Valerie is assessing the company's internal environment, including A. competition. B. the economy. C. strengths and weaknesses. D. demographics. E. opportunities and threats.

answer

C. strengths and weaknesses.

question

Samantha is charged with assessing her company's external environment as part of a SWOT analysis. Samantha will study her company's A. strengths and weaknesses. B. sales history. C. pension plan. D. product specifications. E. opportunities and threats

answer

E. opportunities and threats

question

Manufacturers that use just-in-time manufacturing systems coordinate closely with suppliers to ensure that materials and supplies arrive just before they are needed in the manufacturing process. While just-in-time systems can offer major advantages in terms of inventory costs, they must be carefully managed. If a firm found that its just-in-time system was badly managed, leading to frequent manufacturing delays due to missing parts, this would represent a(n) __________ in a SWOT analysis. A. weakness B. opportunity C. threat D. strength E. metric

answer

A. weakness

question

For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements with other countries creates A. weaknesses. B. opportunities. C. strengths. D. threats. E. strategic plans.

answer

B. opportunities.

question

In 2006, Ford Motor Company announced it would severely cut back its automobile production. For parts companies supplying Ford its parts, this represented a(n) A. weakness. B. opportunity. C. strength. D. threat. E. strategic plan.

answer

D. threat.

question

Lionel is asked to conduct an STP analysis for his firm. The first step he should perform in this analysis is to A. develop a business mission statement. B. choose the best target markets. C. reposition existing segments. D. divide the marketplace into subgroups. E. conduct a SWOT analysis.

answer

D. divide the marketplace into subgroups.

question

In 2006, Walmart announced that it would begin selling organic food products. In doing so, Walmart was most likely trying to A. gain government subsidies. B. attract a different market segment. C. reduce its costs. D. save the environment. E. offset cost-based pricing pressure.

answer

B. attract a different market segment.

question

For years, when considering new products, marketers at Celestial Seasonings asked themselves, "What would Stacy think?" Stacy was a fictional character representing 25- to 50-year-old educated, upper-income women who rarely watched television but did a lot of reading. "Stacy" represented Celestial's primary A. mission statement. B. positioning. C. SBU. D. target market segment. E. sustainable competitive advantage.

answer

D. target market segment.

question

After identifying various market segments that her company could pursue, Lisa evaluated each segment's attractiveness based on size, income, and accessibility. Lisa was involved in A. target marketing. B. situation analysis. C. diversification. D. positioning. E. market penetration estimation.

answer

A. target marketing.

question

LeBron James, Alex Rodriguez, and other athletes are paid huge sums of money by companies for celebrity endorsements. If endorsements by these athletes create a clear understanding among consumers of the companies' products in comparison to competing products, they can help with the firm's __________ strategy. A. product excellence B. targeting C. positioning D. segmentation E. customer excellence

answer

C. positioning

question

__________ involves the process of defining the marketing mix variables so that target customers have a clear, distinctive understanding of what a product does or represents in comparison with competing products. A. Targeting B. Market segmentation C. A sustainable competitive advantage D. Positioning E. A customer excellence strategy

answer

D. Positioning

question

Imagine that you are in a convenience store choosing your favorite "comfort" food instead of being in a classroom taking this test. You might notice the packaging, colors, labels, even the fonts used on labels. All of these efforts are part of the marketer's A. value-based promotions. B. market segmentation. C. positioning strategy. D. customer excellence strategy. E. target market.

answer

C. positioning strategy.

question

When positioning products relative to competitors' offerings, firms typically are most successful when they focus on opportunities A. that build on their strengths relative to those of their competitors. B. for diversification. C. in international markets. D. where value-based pricing can be ignored. E. where customer excellence can be substituted for product excellence.

answer

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

question

Many small businesses whose competitors are national franchises advertise "we are locally owned" or "we have been here since 1951." This is part of these firms' A. business mission. B. market segmentation strategy. C. positioning strategy. D. customer excellence strategy. E. target market.

answer

C. positioning strategy.

question

When discussing the marketing planning process, STP stands for A. strategies, tactics, and plans. B. strategize, target, and promote. C. segmentation, targeting, and positioning. D. situation analysis, trend spotting, and planning. E. sustaining, trending, and positioning.

answer

C. segmentation, targeting, and positioning.

question

Suppose your university made a sizable investment in its career services—additional counselors, increased efforts to bring in recruiters, and other services aimed at helping students find jobs. This investment would enhance the university's _____________ in an attempt to create value for students and recent graduates. A. segmentation strategy B. place strategy C. locational excellence strategy D. diversification strategy E. product value

answer

E. product value

question

The idea of value-based marketing requires firms to charge a price that A. covers costs and generates a modest profit. B. includes the value of the effort the firm put into the product or service. C. captures the value customers perceive that they are receiving. D. prioritizes customer excellence above operational excellence. E. matches competitors' prices.

answer

C. captures the value customers perceive that they are receiving.

question

E-books, in addition to being an alternative product form, provide __________ value creation since they can be downloaded via the Internet immediately when and where they are needed. A. product B. place C. promotion D. price E. primary

answer

B. place

question

In value-based marketing, the promotion element of the four Ps communicates the ________ to customers through a variety of media. A. mission statement B. operational excellence strategy C. value proposition D. relative market value E. target market definition

answer

C. value proposition

question

When marketers use a variety of communication disciplines—advertising, personal selling, sales promotion, public relations, direct marketing, and online marketing—in combination to communicate a value proposition to the customer, it is referred to as A. integrated marketing communications. B. multimedia marketing. C. diverse marketing communications. D. comprehensive promotion. E. managed marketing communications.

answer

A. integrated marketing communications.

question

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 A. product. B. price. C. promotion. D. place. E. cost-based measures.

answer

C. promotion.

question

Craig sees that his company's quarterly sales and profits are significantly above projections and says, "That's great. Let's keep doing what we've been doing." Craig is ignoring the __________ step of the marketing planning process. A. evaluate performance B. define the business mission C. perform situation analysis D. implement marketing mix and resources E. identify and evaluate opportunities

answer

A. evaluate performance

question

The first objective in the evaluate performance phase of the marketing planning process is to A. determine whether to raise or lower prices. B. adjust advertising allocations. C. find ways to cut costs. D. review implementation programs and results using metrics. E. consider changing the target market.

answer

D. review implementation programs and results using metrics.

question

As it pertains to the marketing plan, understanding the causes of performance, regardless of whether that performance exceeded, met, or fell below the firm's goals A. enables firms to make appropriate adjustments. B. allows managers to demonstrate their effectiveness. C. offers insights into crafting an appropriate mission statement. D. should always be followed by eliminating underperforming SBUs. E. allows firms to better assess customer loyalty.

answer

A. enables firms to make appropriate adjustments.

question

A regional manager at GNC, a chain of retail stores selling nutritional supplements, is reviewing sales data after a recent in-store promotion. The data show success in some stores and limited response in others. To understand the differences between stores, the manager will probably next review the company's A. financial statements, to investigate current and past profits. B. brand awareness study, to assess national levels of awareness. C. implementation programs, to see if the promotion was handled consistently in the different stores. D. mission statement, to see if it needs adjusting. E. analysis of national trends in vitamins and herbal supplements, to help predict future sales.

answer

C. implementation programs, to see if the promotion was handled consistently in the different stores

question

After conducting STP analysis for her custom auto parts store and developing strategies for each of the four Ps, Monique now has to make _____________ decisions. A. competitive response B. resource allocation C. market growth D. product line E. mission statement

answer

B. resource allocation

question

Lamar owns four dry cleaning stores in the suburbs of Orlando, Florida. He recently updated his STP analysis, and has just finished adjusting his marketing mix based on the STP results. His next strategic marketing decision will most likely involve determining A. how Disney World crowds will impact his business. B. which employees to promote or fire. C. how to allocate resources among his four stores. D. what new government regulations might create opportunities or threats. E. when to shift from a customer excellence to an operational excellence strategy.

answer

C. how to allocate resources among his four stores.

question

In most companies, portfolio management is typically done at the SBU or ___________ level of the firm. A. corporate B. product line C. customer care D. sales representative E. accounting

answer

B. product line

question

A(n) ___________ is a group of products that consumers may use together or perceive as similar in some way. A. SBU B. STP C. product line D. market segment E. promotional service

answer

C. product line

question

Heather has been assessing a number of her firm's products using the Boston Consulting Group (BCG) approach to portfolio analysis. She has been trying to assess the strength in a particular market and is looking at the sales of the product and the overall market as well as the sales of competitors. Heather is trying to determine A. the product's relative market share. B. the market growth rate. C. a source of competitive advantage. D. the impact of population shifts on future demand. E. cash equivalent values for each product.

answer

A. the product's relative market share.

question

To determine how attractive a particular market is using the BCG portfolio analysis, __________ is(are) established as the vertical axis. A. competitive intensity B. sales dollars C. market size D. market growth rate E. market profit potential

answer

D. market growth rate

question

In BCG portfolio analysis, products in low-growth markets that have received heavy investment and now have excess funds available to support other products are called A. stars. B. cash cows. C. question marks. D. dogs. E. anchors.

answer

B. cash cows.

question

Fernando was thrilled to find out that his company had just decided to invest a great deal of money in the product he was managing. He knows that even with its recent high rate of growth and the fact that it dominates its market, he would need more money to establish it firmly. Using the BCG portfolio analysis, his product would be classified as a(n) A. star. B. cash cow. C. question mark. D. dog. E. anchor.

answer

A. star.

question

Using the BCG portfolio analysis, a "dog" should be phased out unless A. its marketing manager is a champion of the product. B. additional resources could increase its relative market share slightly. C. it complements or boosts the sales of another product. D. the market has a small chance of rebounding. E. none of these. Dogs should be phased out.

answer

C. it complements or boosts the sales of another product.

question

The strategic marketing planning process A. is a five-step process that should always be completed in order. B. is frequently used in reverse. C. begins with establishing specific, measurable outcomes. D. is not always sequential. E. forces marketing managers to think rationally.

answer

D. is not always sequential.

question

Which of the following is not one of the four major growth strategies marketers typically utilize? A. market penetration B. market development C. segment development D. diversification E. product development

answer

C. segment development

question

Adrienne decides to add new sales representatives and increase advertising to increase sales in her existing market for her current line of security systems. Adrienne is pursuing a __________ growth strategy. A. segment development B. market development C. market penetration D. diversification E. product development

answer

C. market penetration

question

A __________ growth strategy employs the existing marketing offering to reach new market segments. A. product proliferation B. market development C. market penetration D. diversification E. product development

answer

B. market development

question

Quitman Enterprises sells its business language dictionary to college students throughout the United States. Joseph Quitman, the owner, wants to start selling the book to international students abroad. Quitman wants to pursue a __________________ growth strategy. A. product proliferation B. market development C. market penetration D. diversification E. product development

answer

B. market development

question

When pursuing a market development strategy, expanding into international markets is generally A. riskier than expansion in domestic markets. B. impossible due to negative attitudes about American products. C. executed with the help of international trade subsidies. D. simplified by creating new products for export markets. E. the only option offering substantial opportunities for growth.

answer

A. riskier than expansion in domestic markets.

question

H;R is a small, local heating and air conditioning business. The area military base is a potential source of growth, and H;R already installs and services the type of equipment the military would require, but it is difficult to get established as a certified government contractor. H;R is considering a ____________ growth strategy. A. product proliferation B. market development C. market penetration D. diversification E. product development

answer

B. market development

question

Many states create licensing requirements for a variety of professionals (such as lawyers and accountants) designed to restrict entry into their market by professionals from other states. This strategy limits ____________ growth strategies. A. product proliferation B. market development C. market penetration D. diversification E. product development

answer

B. market development

question

Marketers who design and offer new products and services to their existing customers are pursuing a ____________________ growth strategy. A. product proliferation B. market development C. market penetration D. diversification E. product development

answer

E. product development

question

Most banks now have customer relationship software that, when a customer contacts the bank, tells the service representative what types of accounts, loans, and credit cards the customer currently has. Service representatives use this information to sell some of the other services the bank currently offers to these customers. This is a ___________________ growth strategy. A. product proliferation B. market development C. market penetration D. diversification E. product development

answer

C. market penetration

question

Maryam phoned her auto insurance agent to renew her policy. The agent told her about new types of insurance now available—to cover her apartment, or even the engagement ring she just got from her fiancé. The agent was pursuing a ________________ growth strategy. A. product development B. market development C. market penetration D. diversification E. product proliferation

answer

A. product development

question

Introducing newly developed products or services to a market segment the company is not currently serving is called A. product development. B. market development. C. market penetration. D. diversification. E. product proliferation.

answer

D. diversification.

question

Zara is a women's clothing retailer headquartered in Spain, with stores located in many countries. Zara has developed a "quick response" system that allows store merchandise to be adjusted rapidly to fit changing customer preferences. Every aspect of Zara's operation is optimized for this system, making it difficult for competitors like The Gap to duplicate. Zara has established A. customer loyalty. B. locational excellence. C. a diversification growth strategy. D. a sustainable competitive advantage. E. a related diversification opportunity.

answer

D. a sustainable competitive advantage.

question

Fourteenth National Bank prides itself on offering better service than any of its competitors. If this is accurate, and if customers recognize and value Fourteenth National's superior service, the bank creates and delivers value through A. promotional excellence. B. product excellence. C. operational excellence. D. global excellence. E. customer excellence.

answer

E. customer excellence

question

Anita has gone to the same hair salon for the past 10 years. She believes that her stylist, the salon owner, does a better job of cutting and styling her hair than anyone else could. Other salons have opened closer to Anita's home, some offering more plush facilities or lower prices, but she isn't tempted to switch. Anita's attitude toward the salon is an example of A. a sustainable competitive advantage. B. a customer retention program. C. an opportunity, in SWOT analysis. D. customer loyalty. E. the benefits of a locational excellence strategy.

answer

D. customer loyalty.

question

Customer retention programs are based on what concept? A. Customer excellence is the easiest macro strategy to follow. B. Customer relationships should be viewed from a lifetime value perspective. C. It is important to maximize profits in the first few months of a customer relationship. D. Segmentation, targeting, and positioning analysis should not be rushed. E. Firms must spend large amounts of money to retain customers.

answer

B. Customer relationships should be viewed from a lifetime value perspective.

question

Most banks implement customer retention programs aimed at their best customers. They do this because they know that retaining customers usually results in A. a product development growth strategy. B. an operational advantage. C. opportunities for diversification. D. increased long-term profits. E. more clearly defined market segments.

answer

D. increased long-term profits.

question

Some universities offer online degree programs, competing with traditional colleges based on the convenience of taking online courses. These online programs are most likely pursuing which macro strategy? A. customer excellence B. locational excellence C. operational excellence D. product excellence E. purchase excellence

answer

B. locational excellence

question

When a pharmaceutical company develops a new medication, it typically applies for a patent in order to prevent competitors from developing copycat products for several years. Pharmaceutical companies apply for patents to establish A. an operational excellence macro strategy. B. a market penetration growth strategy. C. a sustainable competitive advantage. D. an efficient supply chain. E. product efficiency.

answer

C. a sustainable competitive advantage.

question

One example of a customer loyalty program is A. a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases. B. a quantity discount offered for large purchases at an office supply store. C. seasonal sales on top-selling items. D. an "everyday low price" policy on all products at a grocery store. E. an extensive customer service training program for new employees at a hair salon.

answer

A. a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases.

question

Which of the following is the third step in the marketing planning process? A. define the business mission B. identify and evaluate opportunities C. evaluate using a matrix D. implement marketing mix and allocate resources E. perform situation analysis

answer

B. identify and evaluate opportunities

question

In mid-2010, Hewlett-Packard Company (HP) acquired Palm Computing Inc., a manufacturer of personal devices and smartphones. Before deciding to acquire the company, strategic planners at HP spent time thinking about how Palm and HP would "fit" together, and how the acquisition might change HP's core goals and objectives. The strategic planners were engaged in the ____________ step of the marketing planning process A. perform situation analysis B. implement marketing mix and allocate resources C. identify and evaluate opportunities D. evaluate performance E. define the business mission

answer

E. define the business mission

question

After defining the business mission, what should a firm do next to develop a marketing plan? A. conduct an STP analysis B. perform a situation analysis C. develop a positioning strategy D. select a target market E. implement the four Ps

answer

B. perform a situation analysis

question

In a SWOT analysis, increasing gasoline prices would represent a potential __________ for manufacturers of electric cars. A. weakness B. threat C. opportunity D. operational advantage E. locational advantage

answer

C. opportunity

question

A former advertising campaign for GEICO Insurance used the slogan "So easy, even a caveman could do it" to emphasize the ease of buying insurance on GEICO's website. This campaign was part of GEICO's A. mission statement. B. market segmentation plan. C. product strategy. D. customer excellence strategy. E. positioning strategy.

answer

E. positioning strategy.

question

Abercrombie & Fitch, a clothing retailer, includes a "SHARE" link on the product pages of its website. This link encourages an Abercrombie customer to post a link (perhaps showing a new style of jeans) on Facebook or Twitter. Abercrombie & Fitch hopes that the customer's friends (who are probably very much like current customers) will click the link, visit the page, and make purchases. This is an example of a __________ growth strategy. A. product proliferation B. market development C. market penetration D. diversification E. product development

answer

C. market penetration

question

Sodexo is a corporation that manages school cafeterias, university dining halls, mess halls at military bases, concession stands at sports arenas, and other large-scale food service facilities. If Sodexo were to begin to sell individual frozen meals in supermarkets, it would be pursuing a __________ growth strategy. A. product development B. market development C. market penetration D. diversification E. product proliferation

answer

D. diversification

question

Singapore Airlines seeks to differentiate itself from competing airlines, in part through innovative design of its airplane seats and in-flight entertainment systems. Through continuous innovation in these areas, Singapore Airlines is pursuing a(n) __________ macro strategy. A. customer excellence B. global excellence C. locational excellence D. operational excellence E. product excellence

answer

E. product excellence

question

3M involves its customers in the process of developing new products. In this way, it can benefit from current customers' insights and develop new products that will meet these customers' needs. 3M is pursuing a __________ growth strategy. A. diversification B. market development C. market penetration D. product development E. product penetration

answer

D. product development

question

Over the last few months, Juan and his colleagues have analyzed the current business situation and identified target markets for his firm's personal care products. Finally, they developed the products, prices, distribution, and promotion that should appeal to each of those target markets. In doing so, Juan has also identified what he believes is an advantage his competitors cannot match. Juan and his colleagues have been developing A. a business mission statement. B. a strategic vision. C. team-building exercises. D. a marketing strategy. E. competitive assessments.

answer

D. a marketing strategy.

question

Gerald's Tire Store sets itself apart from competitors by the extra attention it pays to retaining loyal customers by providing fast, courteous service in a clean, professional-looking environment. Gerald's has used this strategy for over 40 years, expanding to 15 outlets. Gerald's Tire Store has created a ___________ macro strategy to create and deliver value and to develop a sustainable competitive advantage. A. supply chain excellence B. locational excellence C. product excellence D. diversification excellence E. customer excellence

answer

E. customer excellence

question

Which of the following is the best way to build a sustainable competitive advantage using product excellence? A. being the first to offer customers desired features, even if competitors can copy them easily B. positioning the product using a clear, distinctive brand image C. having the most features on each model D. focusing on being cutting edge and continually eliminating older features that are still in use by customers E. copying the market leader's features, but at a lower cost

answer

B. positioning the product using a clear, distinctive brand image

question

A competitive advantage based on location is often sustainable because A. mobile marketing has not yet proven its value for most customers. B. real estate prices have been dropping. C. few marketers are aware of its importance yet. D. it is not easily duplicated. E. the Internet has diminished the importance of brick-and-mortar stores.

answer

D. it is not easily duplicated.

question

Four companies dominate the cereal industry. These firms produce in large volumes, promote heavily, and control access to the supermarket shelves through "slotting allowances," which are payments to retailers in return for shelf space. Combined, these four firms have A. identical marketing mixes. B. customer excellence. C. a sustainable competitive advantage. D. achieved product excellence. E. violated laws governing competition.

answer

C. a sustainable competitive advantage.

question

Value creation through place decisions for a consumer product involves A. putting the product in the front of the store. B. designing creative displays to capture consumers' attention. C. pricing products differently at different stores. D. making sure the product is available in the stores where customers will want to find it, and that it is always in stock so they can buy it when they want to. E. focusing exclusively on Internet sales to reduce supply chain costs.

answer

D. making sure the product is available in the stores where customers will want to find it, and that it is always in stock so they can buy it when they want to.

question

In recent years, cellular (mobile) service providers have worked hard to eliminate "dead zones," providing customers with service wherever they traveled. By working to make the network available in more locations, cellular service companies were focusing on __________ value creation. A. product B. price C. promotion D. place E. financial

answer

D. place

question

103. 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 A. generate cost-based performance ratios. B. evaluate performance and make adjustments. C. increase product excellence without reducing customer excellence. D. develop segmentation strategies. E. choose a business mission.

answer

B. evaluate performance and make adjustments.

question

In 2007, Apple Computer introduced its new iPhone, adding a cellular telephone, a camera, and Internet access to its iPod. The company was pursuing a(n) __________ strategy. A. market development B. market penetration C. operational excellence D. customer excellence E. product development

answer

E. product development

question

Allen is in the marketing department of a midsized firm that develops and sells communications systems. He is proud of the human resource area in the company that provides the firm with excellent employees. Allen himself really enjoys his work, but he knows the work of HR helps create an operational advantage for the firm because of all the following except A. customers appreciate the kind of service that knowledgeable employees provide. B. employees play a major role in the success of the firm. C. it is easier to communicate with and inspire the customer if the employees believe in what the firm is doing. D. building customer loyalty depends on a committed workforce. E. the company provides products with a high perceived value.

answer

E. the company provides products with a high perceived value.

question

Which of the following actions, if it actually happened, would be the most likely to support and enhance an operational excellence macro strategy? A. Singapore Airlines installing more comfortable seats in the economy-class cabins of its airplanes B. 3M Corporation implementing new software to improve communication with its suppliers C. adidas inviting customer suggestions to guide the design of the next generation of shoes D. Nike opening hundreds of new company stores in high-traffic shopping areas E. McDonald's lowering prices on its coffee drinks

answer

B. 3M Corporation implementing new software to improve communication with its suppliers

question

Which of the following factors, listed in a situation analysis for a major U.S. auto manufacturer, is the best example of a threat? A. The factory that manufactures a new, popular car cannot build enough vehicles to meet the demand, while other factories have excess capacity. B. Recent consumer studies have indicated that Chinese consumers prefer American cars. C. A New York law firm has filed a $10 million class action suit against the company on behalf of car owners whose gas tanks exploded. D. Due to outdated engine technology, the company's cars get lower gas mileage than those of major competitors. E. The company has lower manufacturing costs than its key competitors, allowing it to sell its cars at low prices.

answer

C. A New York law firm has filed a $10 million class action suit against the company on behalf of car owners whose gas tanks exploded.

question

Which of the following factors, listed in a situation analysis for a major U.S. auto manufacturer, is the best example of an opportunity? A. The factory that manufactures a new, popular car cannot build enough vehicles to meet the demand, while other factories have excess capacity. B. Recent consumer studies have indicated that Chinese consumers prefer American cars. C. A New York law firm has filed a $10 million class action suit against the company on behalf of car owners whose gas tanks exploded. D. Due to outdated engine technology, the company's cars get lower gas mileage than those of major competitors. E. The company has lower manufacturing costs than its key competitors, allowing it to sell its cars at low prices.

answer

B. Recent consumer studies have indicated that Chinese consumers prefer American cars.

question

The global athletic footwear market is expected to experience only very slow growth over the next several years. Nike is the market leader. According to Boston Consulting Group portfolio analysis, how should Nike treat its athletic shoe business? A. Nike will probably have to invest heavily in the athletic shoe business, including extensive promotions and new production facilities. B. Nike should consider exiting the athletic shoe market. C. Nike should stop investing in its athletic shoe business; it has already reaped all the benefits it is likely to receive. D. Nike's athletic shoe business still requires some investment, but is likely to produce excess resources that can be invested in other divisions of the company. E. Nike should invest in the athletic shoe market only if it helps boost the sales of other products in fast-growing markets.

answer

D. Nike's athletic shoe business still requires some investment, but is likely to produce excess resources that can be invested in other divisions of the company.

question

Subway is a large chain of franchise sandwich shops. Marcia owns three Subway stores in a large city. At the end of the year, she notes that sales rose from 2 to 5 percent over last year's sales at Stores 1 and 2, but fell 2 percent at Store 3. Based on this information, which of the following is the best course of action as to how Marcia should reward (or punish) her store managers? A. She should give bonuses to the managers of Stores 1 and 2, and put the Store 3 manager on probation. B. She should ignore the sales data; they are not an appropriate marketing metric. C. She should give each manager a raise, tied to the store results. D. She should review at least 10 years of sales data about her stores' performance before making a decision. E. She should seek more information about why the stores had different results before making a decision.

answer

E. She should seek more information about why the stores had different results before making a decision.

question

Coca-Cola sells two different zero-calorie versions of Coke: Diet Coke and Coke Zero. It has chosen to attempt to appeal to men with Coke Zero. In addition to launching an ad campaign featuring men enjoying Coke Zero, Coca-Cola also designed a masculine-looking can for Coke Zero, with bold red lettering on a black background. This specially designed can is an example of A. positioning. B. targeting. C. segmentation. D. a market segment. E. market penetration.

answer

A. positioning.

question

Delta Airlines is among the companies experimenting with selling products and services on their Facebook pages. The idea is to make purchasing even easier for customers who may spend large portions of the day with Facebook active on their computers or mobile devices. There is no need even to navigate to Delta's website—users can book a trip in Delta's "Ticket Agent" application without ever leaving Facebook. Which element of the marketing mix does this represent? A. product and value creation B. price and value capture C. place and value delivery D. promotion and value communication E. positioning and value promotion

answer

C. place and value delivery

question

A marketing strategy identifies three things: ________, a related marketing mix, and the bases on which the firm plans to build a sustainable competitive advantage. A. customer value B. a mission statement C. marketing metrics D. a firm's target markets E. a product plan

answer

D. a firm's target markets

question

Because it was able to deliver merchandise overnight, in the required quantities and at a lower delivered cost than its competitors, Joe's Sports Shack was given exclusive rights to sell clothing with school logos for the school district. Joe's demonstrates ________ excellence. A. product B. place C. customer D. operational E. locational

answer

D. operational

question

During which phase of the marketing planning process does a firm identify and evaluate different opportunities by engaging in segmentation, targeting, and positioning? A. planning phase B. implementation phase C. evaluation phase D. control phase E. strategy phase

answer

B. implementation phase

question

During a SWOT analysis, a company should assess the opportunities and uncertainties of the marketplace due to changes in several factors, given the acronym CDSTEP. Which of the following is not one of these factors? A. ethical B. cultural C. political D. technological E. demographic

answer

A. ethical

question

The process of dividing the market into groups of customers with different needs, wants, or characteristics is called A. target marketing. B. market segmentation. C. positioning. D. allocation. E. value capture.

answer

B. market segmentation.

question

________ involves the process of defining the marketing mix variables so that target customers have a clear, distinctive, desirable understanding of what the product does or represents in comparison with competing products. A. Target marketing B. Market segmentation C. Market positioning D. Allocation E. Value capture

answer

C. Market positioning

question

All of the following statements regarding marketing metrics are true except A. they can be used at various levels in an organization. B. they assist in comparing results among SBUs. C. they cannot be used to project the future. D. they quantify a trend, dynamic or characteristic. E. they help a firm make appropriate adjustments to its marketing plan.

answer

C. they cannot be used to project the future.

question

A product that is in a high-growth market but has a low market share would be classified as a ________ on the BCG matrix. A. ladder B. dog C. cash cow D. star E. question mark

answer

E. question mark

question

Which of the following is the definition of social media? A. content distributed through online and mobile technologies to facilitate interpersonal interactions B. a collection of websites that support the posting of videos and photos C. a group of websites that allow users to establish formal and informal connections D. the practice of users forwarding video and photo links to one another E. web services that allow users to share their physical locations

answer

A. content distributed through online and mobile technologies to facilitate interpersonal interactions

question

How does your text describe how social media firms help marketers connect with their customers? A. by helping firms appear more "hip" to customers B. by helping build connections between customers and firms C. by helping firms establish an Internet presence D. by allowing customers to search for products more easily E. by allowing firms to capture customer information

answer

B. by helping build connections between customers and firms

question

The 4E framework for social media guides marketers in using social media effectively to build and deepen customer relationships. Which of the following is not one of the 4Es in this framework? A. engagement B. energy C. excitement D. experience E. education

answer

B. energy

question

Derek just posted an entry in his blog talking about how happy he is with his new GoPro camera. In the blog he also posted videos that he took with the camera. As a customer of the product, which facet of the 4E framework for social media is Derek most exhibiting? A. engagement B. energizing C. excitement D. experiencing E. educating

answer

A. engagement

question

In terms of the 4E framework, in order for a firm's offer to excite its targeted customers, the offer must be A. unique. B. relevant. C. substantial. D. easy to understand. E. tangible.

answer

B. relevant.

question

A Groupon offer for discounted theater tickets was sent to targeted customers who had previously purchased movie or theater tickets. This best describes which of the 4E frameworks? A. engage B. energize C. excite D. experience E. educate

answer

C. excite

question

While waiting to be seated at a restaurant, Joylee receives a customer loyalty coupon through an app on her mobile phone for half off a dessert with the purchase of an entrée. This use of a location-based software application is designed to promote which of the 4E framework objectives? A. engage B. energize C. excite D. experience E. educate

answer

C. excite

question

While waiting in line to make a purchase at Best Buy, Joanie sees signs reminding her to visit the company's website for online specials and to sign up on her smartphone for the Best Buy Loyalty Rewards Program. Others signs remind her that Best Buy will match competitors' prices on any item they sell. This is an example of which 4E framework? A. engage B. energize C. excite D. experience E. educate

answer

E. educate

question

Which of the following social media tools is a type of all-in-one marketing software that can be used to educate customers? A. Facebook B. Twitter C. LinkedIn D. HubSpot E. WordPress

answer

D. HubSpot

question

Alan wants to upgrade his look before a job interview. A friend tells him about a men's clothing line that allows potential customers to virtually try on suits and see what looks best. It even offers an interactive "custom fit" feature. After checking out his options, Alan takes his measurements and orders a suit without ever leaving his office. Virtually trying on a suit best describes which of the 4E framework objectives? A. engage B. energize C. excite D. experience E. educate

answer

D. experience

question

It is not unusual to see firms offering free product samples in grocery stores to let customers try the product before buying it. Similarly, in today's world of social media, one can read a chapter of a book before buying it, or watch YouTube videos on different ways to use a product. All of these scenarios are aimed at which aspect of the 4E framework? A. engage B. energize C. excite D. experience E. educate

answer

D. experience

question

Gene's Complete Cameras offers its customers an interactive website to help them choose the best camera for their lifestyle. But the site's most-used feature is its user blog in which customers—both satisfied and unsatisfied—talk about products they have purchased and the service received at Gene's. The user blog best describes which of the 4E frameworks for the store's customers? A. engage B. energize C. excite D. experience E. educate

answer

A. engage

question

When the Minnesota Timberwolves encouraged Facebook fans to post a great shot of a dunk onto its Pinterest page for a chance to win tickets to a game, which dimension of the 4E framework was being targeted? A. educate B. experience C. engage D. energize E. excite

answer

E. excite

question

Which aspect of the 4E framework is aimed at action, the potential for a relationship, and possibly even loyalty and commitment? A. educate B. energize C. excite D. experience E. engage

answer

E. engage

question

For marketers, media-sharing sites such as YouTube or Flickr are social media tools best used to A. encourage customers to engage with the firm and experience its products. B. stimulate excitement. C. develop customer education and engage with others users. D. develop customer education. E. energize customers and stimulate excitement for its products.

answer

A. encourage customers to engage with the firm and experience its products.

question

Trina is developing a marketing campaign for an organic stain-removal product. As "stain removal" is rather dull, she is trying to educate consumers about the value and uniqueness of the product, and appeal to the environmentally conscious. Which of the following is the best social media application for this task? A. YouTube B. LinkedIn C. blog D. Instagram E. Google+

answer

C. blog

question

Research indicates that positively engaged consumers tend to be A. more socially outgoing. B. more profitable consumers. C. older and wealthier than average. D. younger and poorer than average. E. more critical consumers.

answer

B. more profitable consumers.

question

Location-based software and applications can help bring a special offer to customers right on their smartphones when they are in the process of making a purchase decision. This best represents which aspect of the 4E framework of social media marketing? A. engage B. energize C. excite D. experience E. educate

answer

C. excite

question

Marketers rely on three types of social media: social networking sites, thought-sharing sites, and A. software application sites. B. product review sites. C. corporate websites. D. media-sharing sites. E. social bookmarking sites.

answer

D. media-sharing sites

question

Marketers rely on social media to achieve three objectives. Which of the following is not one of those objectives? A. members promoting themselves to gain more friends B. sites promoting themselves to get more members C. members promoting sites to gain more friends D. outside companies promote their products to appeal to potential customers E. outside companies promote their services to appeal to potential customers

answer

C. members promoting sites to gain more friends

question

LinkedIn is an example of what type of social media site? A. social networking B. media sharing C. thought sharing D. photo sharing E. corporate blogging

answer

A. social networking

question

When a group of industry professionals discussed the ingredients necessary to attract positive attention from Facebook's 1.19 billion users, they agreed that a successful campaign must A. tell a story. B. be promotion based. C. be unique. D. have a celebrity endorsement. E. generate "buzz."

answer

A. tell a story.

question

Your text notes that the networking benefits of LinkedIn are particularly beneficial for which group? A. entertainment marketers B. photo enthusiasts C. small-business owners D. athletes E. journalists and bloggers

answer

C. small-business owners

question

What feature unique to Google+ lets people interested in similar topics form their own groups? A. Circles B. Neighborhoods C. Villages D. Cliques E. Communities

answer

E. Communities

question

Instagram is an example of what type of social media site? A. microblogging B. social networking C. thought sharing D. media sharing E. social bookmarking

answer

D. media sharing

question

YouTube is an example of what type of social media site? A. microblogging B. media sharing C. thought sharing D. social networking E. social bookmarking

answer

B. media sharing

question

Karlie likes to post pictures of fancy cupcakes and cookies on Pinterest. She also posts pictures of fun kitchen equipment in sherbet colors, and looks for baking ideas and equipment. What type of social media site is Karlie using? A. microblogging B. media sharing C. thought sharing D. social networking E. social bookmarking

answer

B. media sharing

question

Lauren decides to use Twitter to market her hand-painted scarves to other women on her campus. She sets up a Twitter account with the name @uniquedesignsbylauren and posts this on her Facebook page, making sure to tweet every few days. Soon Lauren is selling a lot of scarves. Lauren's Twitter account is an example of A. microblogging. B. media sharing. C. thought sharing. D. professional networking. E. social bookmarking.

answer

A. microblogging.

question

This type of thought-sharing site typically provides the highest level of control for companies. A. professional blog B. corporate blog C. personal blog D. Flickr E. Google+

answer

B. corporate blog

question

From a marketing perspective, what role is played by professional bloggers? A. engaging customers on behalf of companies B. introducing new products to the marketplace C. sharing videos and photos of products D. recruiting employees E. reviewing and giving product recommendations

answer

E. reviewing and giving product recommendations

question

Of the various types of blogs, which one do marketers have the lowest level of control over? A. personal B. corporate C. professional D. corporate microblogs E. professional microblogs

answer

A. personal

question

What is Google+? A. an experimental, advanced search engine B. a website where users can work together to create documents C. a site offering analytical information about website usage D. a social networking site E. a video-sharing site intended for businesses

answer

D. a social networking site

question

Suppose that Nike wanted to use Facebook to increase awareness of a new line of tennis shoes. Which of the following methods would allow Nike to specifically target Facebook users who have mentioned tennis in their profiles? A. uploading a coupon to the Nike fan page B. encouraging Facebook users to "like" the Nike page so their friends will see this action C. placing a Facebook ad D. creating a Facebook tab allowing users to view the tennis clothing within Facebook E. placing a Facebook link on the Nike corporate website

answer

C. placing a Facebook ad

question

What is a microblog? A. a blog whose owner doesn't post very often B. a blog that supports only links to other posts C. a blog run by a small business D. a blog service that supports only short posts E. a blog that targets a very small consumer group

answer

D. a blog service that supports only short posts

question

Southwest Airlines operates a blog called Nuts About Southwest. A group of employees share the responsibility for posting items of potential interest to customers—for example, short videos about Southwest's travel destinations, articles (with photos) about special events, and news about airline promotions. Nuts About Southwest is an example of a A. corporate blog. B. network blog. C. personal blog. D. professional blog. E. social blog.

answer

A. corporate blog.

question

Jordan loves to read and write. She started a blog about books, including writing hints and book reviews. The readership of her blog gradually increased, and eventually publishers started sending her new books, hoping she would review them. Over time, Jordan's blog has changed from a __________ blog to a __________ blog. A. professional; network B. professional; personal C. personal; professional D. personal; social E. social; network

answer

C. personal; professional

question

Twitter can help build a brand's image by educating and engaging consumers. However, one central issue for companies using Twitter is A. limiting the number of tweets per day. B. remunerating for posters. C. managing outgoing Twitter communication. D. eliminating negative posts. E. eliminating confusion with similar products.

answer

C. managing outgoing Twitter communication.

question

All of the following are primary needs that apps meet except A. the need to find "me time." B. the need to socialize. C. the need to shop. D. the need to share. E. the need to discover.

answer

D. the need to share.

question

Which of the following is a pricing model for apps discussed in your text? A. cost-plus B. ad-supported C. premium D. per-use E. data-driven

answer

B. ad-supported

question

Of the seven primary motivations for mobile app usage, which one do people spend the most amount of time on each month? A. need for "me time" B. need for socializing C. need for shopping D. need for accomplishing E. need for self-expression

answer

A. need for "me time"

question

The app Vine allows users to share mini-movies on Twitter, satisfying the primary motivation of the need A. to discover. B. to socialize. C. to accomplish. D. for preparation. E. for self-expression.

answer

B. to socialize.

question

A process called _______ enables customers to scan a product in a store and instantly compare the prices online to see whether a better deal is available. A. deal-finding B. window-shopping C. highlighting D. matching E. showrooming

answer

E. showrooming

question

Which of the following apps would help consumers fulfill their "need to accomplish"? A. Vine B. Google Calendar C. Flipboard D. MyFitnessPal E. SkyMap

answer

D. MyFitnessPal

question

Apps like calendars, trip planners, and flight trackers help consumers fulfill which primary motivation? A. to prepare B. to accomplish C. to discover D. to work E. to organize

answer

A. to prepare

question

Which of the primary motivations do consumers spend the least amount of time engaging in on their smartphones? A. the need to shop B. the need to self-express C. the need to discover D. the need to socialize E. the need to accomplish

answer

B. the need to self-express

question

Which type of pricing model for apps prompts/allows customers to make small "micropurchases" to enhance the app itself? A. ad-supported apps B. freemium apps C. in-app purchases D. paid apps E. multi-level apps

answer

C. in-app purchases

question

________ are free to download, but place ads on the screen when using the program to generate revenue. A. Ad-supported apps B. Freemium apps C. In-app purchases D. Paid apps E. Paid apps with in-app purchases

answer

A. Ad-supported apps

question

Current research points to which pricing model for apps as the most effective? A. ad-supported apps B. freemium apps C. in-app purchases D. paid apps E. paid apps with in-app purchases

answer

B. freemium apps

question

The elements of the social media engagement process are A. listening, reacting, and correcting. B. exciting, listening, and doing. C. analyzing, developing, and engaging. D. listening, engaging, and evaluating. E. listening, analyzing, and doing.

answer

E. listening, analyzing, and doing.

question

Companies can find out a lot about customers using sentiment analysis on sites like Facebook and Twitter, or put another way, by A. reacting. B. exciting. C. engaging. D. listening. E. educating.

answer

D. listening.

question

One important measure of social media's effectiveness is the percentage of site visitors who take the action the site owner hoped for—making a purchase, subscribing to a service, or donating money, for example. This measure is called the site's A. conversion rate. B. extended network. C. bounce rate. D. hits. E. click paths.

answer

A. conversion rate.

question

When a company that uses social media runs a contest online, it will measure its effectiveness in a variety of ways. One such measure is the conversion rate. The conversion rate for the contest promotion would be A. the number of people who entered the contest. B. the number of people who entered the contest plus the number of people who visited the page describing the contest. C. the number of people who visited the page describing the contest. D. the percentage of visitors to the page describing the contest who entered the contest. E. the percentage of fans of the company's page who learned about the contest.

answer

D. the percentage of visitors to the page describing the contest who entered the contest.

question

Suppose that Burger King wanted to evaluate social media content to find out how well its most recent advertising campaign was being received by consumers. This could be done using A. Google Analytics. B. sentiment analysis. C. click path analysis. D. keyword analysis. E. bounce rate.

answer

B. sentiment analysis.

question

Despite its vivid design, the website for Lolly's Bookstore did not seem to attract customers who lingered. In fact, most website visitors left the site before they made a purchase. Which measure does the owner need to address? A. sentiment analysis B. page views C. bounce rates D. keyword analysis E. mobilization rates

answer

C. bounce rates

question

One measure of traffic from visitors on sites, the total page requests, is measured in units called A. clickers. B. hits. C. paths. D. tweets. E. impressions.

answer

B. hits.

question

Darren has developed a better type of medication vial for travelers. He is not sure how to develop a marketing program for his product, as there are a few similar ones on the market. What technique can Darren use to analyze data from his competitor's websites, particularly to learn how people search for similar products online? A. click path data B. sentiment analysis C. social influence D. keyword analysis E. budget analysis

answer

D. keyword analysis

question

__________ are a measure that indicates what percentage of potential customers act as the marketer hopes, either by clicking, buying, or donating. A. Sentiment rates B. Conversion rates C. Bounce rates D. Keyword rates E. Mobilization rates

answer

B. Conversion rates

question

How is the cost to companies and entrepreneurs using Google Analytics calculated? A. a few cents per 100 hits B. correlation to conversion rates of website C. flat fee D. free for individuals; corporate rates based on usage E. free for everyone

answer

E. free for everyone

question

The first step in the process of creating a social media campaign is to A. develop a budget. B. identify the target audience. C. set goals. D. design the elements of the campaign. E. monitor the program.

answer

C. set goals.

question

The final step in the process of creating a social media campaign is to A. develop a budget. B. identify the target audience. C. set goals. D. design the elements of the campaign. E. monitor the program.

answer

E. monitor the program.

question

When developing a social media campaign, what is unique about the copy and images to be used that is more critical with social media that other forms of IMC? A. They need to be humorous. B. They need to be updated almost constantly. C. They need to feature only young actors. D. They must appear only in color (not black and white). E. They must appeal to a diverse, multicultural audience.

answer

B. They need to be updated almost constantly.

question

What is the disadvantage for companies in using a "daily budget" such as that offered by Facebook to its advertisers? A. has poor cost control B. is unable to make adjustments C. may limit exposure if ad is very successful D. is unattractive to consumers E. encourages negative feedback

answer

C. may limit exposure if ad is very successful

question

Deceptive advertising and promotion of inferior products are examples of __________ ethical issues. A. accounting B. marketing C. social D. finance E. economic

answer

B. marketing

question

Unlike other business functions like accounting or finance, people in marketing are often singled out as the root cause of ethical concerns because A. they are trained in the art of effective persuasive communication. B. they are not considered to be as quantitatively skilled as accounting and finance people. C. they interact directly with consumers. D. the problems that occurred at Enron, Tyco, and WorldCom were caused by marketers. E. doing a good job of marketing requires some degree of unethical behavior.

answer

C. they interact directly with consumers.

question

The sale of products that may damage the environment, the use of sweatshop labor, and the marketing of dangerous products are examples of A. internal, controllable marketing issues. B. issues that don't even need to be discussed in ethical firms. C. marketing issues but not ethical issues. D. marketing ethical issues. E. ethical issues but not marketing issues.

answer

D. marketing ethical issues.

question

The process of creating a strong ethical climate within a marketing firm includes A. having a set of values that guides decision making and behavior. B. having a set of values that all stockholders can agree upon. C. having a separate set of values for management and employees. D. making sure the firm will earn a profit. E. having a different set of values for each department within the firm.

answer

A. having a set of values that guides decision making and behavior.

question

The roots of ethical conflict in a firm are often the result of A. value statements that are too detailed. B. stockholder disagreement on the firm's value statement. C. not focusing enough on company profits. D. having different pay scales for different employees. E. the competing values of individuals.

answer

E. the competing values of individuals.

question

The generally accepted ethical code in marketing was developed by A. Johnson & Johnson. B. the American Marketing Association. C. the Better Business Bureau. D. a group of well-respected marketing executives. E. the Advertising Association of America.

answer

B. the American Marketing Association.

question

Which of the following does your text suggest as the reason different people have different ethical standards? A. Some people focus only on their own personal goals. B. Ethical standards depend on what level of the organization one works at. C. Each individual is a product of his or her culture, upbringing, and other influences. D. Ethical behavior is directly linked to the amount of money one makes. E. It is not clear why different people have different ethical standards.

answer

C. Each individual is a product of his or her culture, upbringing, and other influences

question

In a recent Gallup survey, which of the following professions was rated lowest in ethical standards? A. car salespeople B. lawyers C. members of Congress D. newspaper reporters E. medical doctors

answer

C. members of Congress

question

Janice was disturbed to find that the real estate company she had just started working for did not have a(n) __________, the starting point for creating a strong ethical climate. A. ethical behavior seminar B. set of ethical values C. employment contract D. social responsibility program E. ethical activity bonus

answer

B. set of ethical values

question

The Johnson & Johnson credo acknowledges the company's responsibility to A. users of its products, its employees, the community, and its stockholders. B. its stockholders first, its managers, its employees, and its suppliers and vendors. C. domestic markets, other countries in the developed world, and finally countries in the developing world. D. users of its products, the researchers who develop the products, regulators, and its stockholders. E. doctors, nurses, insurance companies, and users of its products.

answer

A. users of its products, its employees, the community, and its stockholders.

question

The Johnson ; Johnson credo A. was a response to the Tylenol incident. B. proved ineffective when the company needed to act in the Tylenol crisis, which was a clear lesson to other companies to update similar documents. C. was copied by all other pharmaceutical companies. D. offers an extremely detailed description of potential problems for the company. E. has guided the firm since it was written in the 1940s.

answer

E. has guided the firm since it was written in the 1940s.

question

In the 1980s, it was found that seven people died of cyanide poisoning after taking Tylenol. What was Johnson ; Johnson's response to this situation? A. The company immediately withdrew all Tylenol from the market until it could ensure the product's safety. B. The company was forced to remove the Tylenol bottles following extensive consumer outcry. C. The company was ordered to remove the Tylenol bottles by the Food and Drug Administration. D. The company felt that nothing could stop Tylenol from losing most of its customers. E. The company developed plans to sell the returned Tylenol bottles in less developed countries.

answer

A. The company immediately withdrew all Tylenol from the market until it could ensure the product's safety.

question

Jacqueline was pleased to read a paraphrasing of the Golden Rule, "Do unto our customers as you would have them do unto you," as part of her new employer's mission statement. Next, Jacqueline expects to find in the firm's employee handbook A. a summary of recent Supreme Court business ethics cases. B. a statement that she needs to decide how the Golden Rule applies to her job on her own, without any influence from her employer. C. explicit rules governing all the firm's transactions. D. a list of employee concerns. E. a list of benefits offered to employees.

answer

C. explicit rules governing all the firm's transactions.

question

New real estate disclosure regulations require sellers and their agents to tell prospective buyers about any existing problems with the property. Previously, they were expected only to answer buyers' questions. The new regulation addressed the marketing ethical problem of A. high-pressure sales techniques. B. deceptive pricing tactics. C. misrepresentation of company data. D. misleading advertising. E. withholding information.

answer

E. withholding information.

question

When making decisions, managers often have to decide between doing what is beneficial for them (and possibly the firm) in the short run, and doing what is right and beneficial for the firm and for society in the long run. To address this conflict, a firm A. must evaluate its quarterly profit statement from an ethics standpoint. B. must state its long-term goals in general terms, so as to not interfere with managers' short-term goals. C. must always put society's needs ahead of the firm's needs. D. must ensure that long-term goals of the firm are aligned with the short-term goals of each individual within the firm. E. should adhere rigidly to legal standards in its industry.

answer

D. must ensure that long-term goals of the firm are aligned with the short-term goals of each individual within the firm.

question

To avoid having ethical situations become problematic for a firm, the short-term goals of each employee must A. be aligned with the long-term goals of the firm. B. be overridden by the overall goals of the firm. C. become secondary to the needs of the remaining stakeholders. D. be reviewed on an annual basis. E. change on a regular basis.

answer

A. be aligned with the long-term goals of the firm.

question

Compared to the average company, firms with strong ethical climates tend to A. employ more business development consultants. B. offer more goods and services. C. be more socially responsible. D. invest more in sales training software. E. have higher turnover.

answer

C. be more socially responsible.

question

Many executives and corporate boards of directors do not perceive social responsibility as part of their mission or responsibility. These business leaders consider corporate social responsibility to be A. a basic requirement of any business. B. the equivalent of the AMA ethical value "Do no harm." C. the key to operational effectiveness. D. a component of basic business ethics. E. beyond the norms of corporate ethical behavior.

answer

E. beyond the norms of corporate ethical behavior.

question

Being socially responsible is generally considered A. a good thing to do only if a company is profitable. B. inappropriate for most firms in today's challenging markets. C. going above and beyond the norms of corporate ethical behavior. D. a necessary part of every firm's strategy. E. the responsibility of corporate-sponsored foundations that can effectively concentrate a firm's good deeds.

answer

C. going above and beyond the norms of corporate ethical behavior.

question

Ironically, while the leaders of Enron Corporation were manipulating the company's finances for their personal benefit, the company was a major donor to Houston area charities. Enron had unethical business practices, but was also A. practicing marketing ethics. B. falsifying the company's finances through charitable donations. C. creating a local ethical business climate. D. demonstrating corporate social responsibility. E. manipulating the public sentiment for its own benefit.

answer

D. demonstrating corporate social responsibility.

question

The ethical decision-making framework includes all of the following steps except A. identify issues. B. promote the firm's corporate social responsibility efforts. C. gather information and identify stakeholders. D. brainstorm alternatives. E. choose a course of action.

answer

B. promote the firm's corporate social responsibility efforts.

question

Garrett has just purchased a beer distributorship. He wants to increase the visibility of his firm in local markets, but he knows there are a number of regulations and socially accepted practices associated with promoting alcoholic beverages. According to the framework for ethical decision making, the first thing Garrett should do is to A. identify issues that need to be addressed. B. promote the firm's corporate social responsibility efforts. C. gather information and identify stakeholders. D. brainstorm alternatives. E. choose a course of action.

answer

A. identify issues that need to be addressed.

question

Hisaoki picks up the local newspaper and reads a stinging letter to the editor criticizing his beverage company for supporting a sporting event for children with disabilities. The letter writer is critical of a banner displayed at the event, with the logos of alcoholic beverages and Hisaoki's company name. Hisaoki never considered that this problem might arise. In the framework for ethical decision making, Hisaoki's company failed to A. identify issues. B. promote the firm's corporate social responsibility efforts. C. analyze the needs of the industry. D. brainstorm and evaluate alternatives. E. choose a course of action.

answer

A. identify issues

question

Many corporations are shifting from defined benefit to defined contribution retirement programs. When considering changes to retirement programs, the primary stakeholders are the A. shareholders. B. employees. C. customers. D. marketing managers. E. competition.

answer

B. employees.

question

When Bernie Ebbers, WorldCom's CEO, was convicted of financial crimes, WorldCom was forced to merge with MCI. One of the ramifications of this merger was the loss of WorldCom's sponsorship of the Sea Pines Heritage PGA golf tournament. The tournament funds the Heritage Foundation, a major community charity. This example illustrates A. the need to identify issues. B. that the impact of unethical actions can reach far beyond the corporation. C. that unethical firms cannot be socially responsible. D. the lack of information needed to make ethical decisions. E. the questionable advantage of social responsibility.

answer

B. that the impact of unethical actions can reach far beyond the corporation.

question

When auditing expenses claimed by the university president, the auditors found extravagant spending on $1,000 per night hotels, banquets, and gourmet restaurants. The president was fired, alumni donations declined, and staff members—who were disturbed by the extravagance while staff salaries were frozen—quit their jobs. This example illustrates A. that universities are more corrupt than companies. B. that the extravagant spending should have been kept quiet to minimize damage to the university. C. that the impact of unethical actions can affect the organization in unanticipated ways. D. the need to identify issues. E. the lack of information needed to make ethical decisions.

answer

C. that the impact of unethical actions can affect the organization in unanticipated ways.

question

The Harvest County School Board is concerned about deteriorating school facilities, combined with a shrinking budget. The board began by studying the issue, and then identified parents, children, teachers, staff, and taxpayers as groups who have a vested interest in the problem. The school board has listened to each group's concerns. In the ethical decision-making framework, its next action should be to A. identify issues of concern to lawmakers. B. assess impact of its actions beyond the classroom. C. engage in brainstorming alternatives. D. choose a course of action. E. evaluate the legal ramifications.

answer

C. engage in brainstorming alternatives.

question

After a firm has identified the various stakeholders and their issues and gathered available data related to an ethical decision-making situation, __________ should engage in brainstorming and evaluating alternatives. A. the senior managers most involved B. key customers C. elected officials D. all parties relevant to the decision E. any individuals with competing interests

answer

D. all parties relevant to the decision

question

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 A. engage in legal discourse. B. vote, with the majority deciding the best course of action. C. reidentify the issues. D. choose a course of action. E. brainstorm for alternatives.

answer

E. brainstorm for alternatives

question

After a firm has identified the various stakeholders and their issues and gathered the available data, all parties relevant to the decision should engage in brainstorming and evaluating alternatives. __________ then review and refine these alternatives, and choose a course of action. A. Managers B. The firm's lawyers C. Key customers D. Community leaders E. All stakeholders

answer

A. Managers

question

Darwin's company is facing a difficult ethical issue. The firm has identified the various stakeholders and their issues and gathered the available data. Everyone with an interest in the issue has engaged in brainstorming and evaluating alternatives. Management reviewed and refined the alternatives. It should now choose the course of action that A. maximizes profits. B. creates the least possible publicity. C. involves the fewest employees. D. minimizes costs. E. seems best after weighing the concerns of all stakeholders.

answer

E. seems best after weighing the concerns of all stakeholders.

question

Rock-Bend Company is considering buying out a competing firm and closing most of the competitor's factories. The firm has identified the various stakeholders and their issues and gathered the available data. Everyone with an interest in the issue has engaged in brainstorming and evaluating alternatives. Management reviewed and refined the alternatives, and then choose a course of action. If the managers are not confident about the decision, they should A. lower their offering price for the competing firm. B. reexamine their alternatives. C. consult customers. D. trust their instincts and move forward. E. choose the least risky option.

answer

B. reexamine their alternatives.

question

When looking at ethical issues associated with the strategic marketing planning process, questions A. should be addressed only during the evaluation stage. B. should never be asked; only managers should deliberate marketing ethical issues. C. vary at each stage of the process. D. are never asked during the implementation stage. E. always follow a standard format.

answer

C. vary at each stage of the process.

question

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. A. planning B. control C. implementation D. brainstorming E. situation analysis

answer

B. control

question

Every year, General Mills issues a report discussing how the firm has performed against its own standards of ethical conduct. This report is part of General Mills's __________ phase of its strategic marketing planning process. A. planning B. implementation C. control D. evolution E. marketing mix

answer

C. control

question

Charges that firms are using "sweatshop" labor to produce their products are likely to occur during the __________ phase of the strategic marketing planning process. A. planning B. implementation C. control D. evolution E. marketing mix

answer

B. implementation

question

Marketers that include ethical statements in the firm's mission or vision statements are introducing ethics at which stage of the strategic marketing planning process? A. implementation phase B. control phase C. planning phase D. evaluation phase E. idea generation phase

answer

C. planning phase

question

During the __________ phase of the strategic marketing planning process, marketers utilize systems to check whether each potential ethical issue raised in earlier phases was addressed. A. implementation B. control C. planning D. assessment E. social responsibility

answer

B. control

question

Alicia has been asked to approve a marketing campaign that, although it is not illegal, promotes food products to children. She is concerned that the food products are not particularly nutritious, although they are not as bad for children as some others sold by competitors. By using the ethical decision-making metric, Alicia will A. ignore the metric as unworkable, since the campaign might pass some of the tests and fail others. B. consider the profit potential first; then explore the vague tests in the metric. C. not worry about the children; their parents are likely to make the buying decision, and they should be able to decide for themselves. D. evaluate the alternative using a series of questions. E. consult the firm's code of ethics for guidance and leave personal ethical considerations out of the decision-making process.

answer

D. evaluate the alternative using a series of questions.

question

The Henry Ford Health System (a health care provider) has set strict limits for pharmaceutical representatives, and will no longer allow doctors in its system to accept free lunches, gifts, or other perks from the pharmaceutical representatives. The Henry Ford Health System probably established this policy because A. it reduces the possibility that the Henry Ford Health System might make unethical purchasing decisions. B. it ensures that Henry Ford Health System is both ethical and socially responsible. C. it increases Henry Ford Health System's socially responsible behavior. D. it ensures that Henry Ford Health System is socially responsible, but not necessarily ethical. E. it is trying to save money.

answer

A. it reduces the possibility that the Henry Ford Health System might make unethical purchasing decisions

question

When Toyota owners began to report problems with sticking accelerator pedals and nonfunctioning brakes, Toyota at first ignored or rejected the claims. Eventually, the company evaluated the issue and issued a recall. Which of the four steps of the ethical decision-making framework was Toyota performing when it recalled several of its 2007-2010 models? A. assess risk B. identify issues C. gather information and identify stakeholders D. brainstorm and evaluate alternatives E. choose a course of action

answer

E. choose a course of action

question

For every consumer who purchases a pair of TOMS shoes for $55, the company promises that a needy child will receive a pair of shoes. TOMS shoes is actively engaging in A. corporate social responsibility. B. business ethics. C. marketing ethics. D. environmental marketing. E. overpricing of its products.

answer

A. corporate social responsibility.

question

If Melissa decides to sell the best ice cream on earth, and intends to establish a strong ethical climate in her organization, during which phase of the strategic marketing planning process should she introduce ethical considerations? A. planning B. implementation C. control D. experience E. ethics

answer

A. planning

question

Anupam's company manufactures industrial ladders. He is concerned that consumers who do not understand ladder safety will purchase these extra-tall ladders and injure themselves. During which phase of the strategic marketing planning process should this issue be addressed? A. control B. planning C. implementation D. design E. ethics

answer

C. implementation

question

A meat-packing company discovers that six months ago it unknowingly distributed meat from a cloned cow. The firm is unaware of any specific risks to humans consuming the meat; however, some scientists have raised questions, and some consumers are afraid of possible future problems. The meat company has to decide whether or not to make this matter public. How should it begin the process of making an ethical decision? A. Brainstorm the available alternatives. B. Ask its managers to vote for or against public disclosure. C. Let the board of directors decide what to do. D. Identify the issues raised by the situation. E. Find out who purchased the meat, and offer them refunds in return for their silence.

answer

D. Identify the issues raised by the situation.

question

Elena is the CEO of a small manufacturing firm. She is concerned with meeting the investment objectives of the firm's shareholders, and sees no value in corporate social responsibility. Elena's attitude is A. insupportable in the 21st century. B. consistent with the views of other critics of corporate social responsibility. C. typical of nearly all manufacturers. D. a reaction to regulatory directives of the U.S. government. E. unethical.

answer

B. consistent with the views of other critics of corporate social responsibility.

question

How might a technology company like Apple most likely ensure that it behaves in a socially responsible way toward its employees? A. It can pay at least minimum wage when the law requires it. B. It can adhere to government-mandated safety standards in the workplace. C. It can ensure that pay practices are fair at all levels of the company. D. It can ensure that its packaging materials are recyclable. E. Social responsibility isn't relevant where employees are concerned; they are paid for their work and that's enough.

answer

C. It can ensure that pay practices are fair at all levels of the company

question

How might a technology company like Apple ensure that it behaves in a socially responsible way towards its customers? A. It can protect the privacy of personal information collected on its website. B. It can adhere to government-mandated safety standards in its stores. C. It can ensure that it pays its employees fairly. D. It can ensure that its packaging materials are recyclable. E. Social responsibility isn't relevant where customers are concerned; it has to do with serving society as a whole.

answer

A. It can protect the privacy of personal information collected on its website.

question

How might Starbucks ensure that it behaves in a socially responsible way toward members of its supply chain? A. It can pay its employees minimum wage as required by law. B. It can use cups made from recycled paper. C. It can offer healthy drinks and snacks in its stores. D. It can purchase coffee beans from suppliers who pay coffee growers a fair price. E. Social responsibility isn't relevant where channel partners are concerned; it has to do with serving society as a whole.

answer

D. It can purchase coffee beans from suppliers who pay coffee growers a fair price

question

All of the following terms are generally associated with the definition of corporate social responsibility except A. voluntary. B. stakeholders. C. social impact. D. environmental impact. E. profit.

answer

E. profit.

question

A recent poll conducted by Time magazine found that 38 percent of U.S. consumers A. actively tried to purchase from companies they considered responsible. B. didn't care if a company acted responsibly. C. were concerned with social responsibility, but not the ethical behavior of a company. D. purchased from companies they perceived to be ethical or not ethical equally. E. had no idea if the companies they purchased from were responsible.

answer

A. actively tried to purchase from companies they considered responsible.

question

________ refers to the moral or ethical dilemmas that might arise in a business setting. A. Marketing ethics B. Business ethics C. Social irresponsibility D. Corporate responsibility E. Institutional ethics

answer

B. Business ethics

question

How did Johnson ; Johnson recently respond to new limits on acetaminophen dosages? A. It changed the dosages to significantly lower levels. B. It didn't do anything and waited to see if there would be a problem with its products. C. It reminded people not to take more than the recommended dosage. D. It pulled all Tylenol products off the shelf until it could be sure it wasn't causing problems for consumers. E. It changed its packaging to reflect the new standards.

answer

C. It reminded people not to take more than the recommended dosage.

question

The primary ethical dilemma facing managers is how to balance A. profits and expenses. B. employees' needs with the needs of the firm. C. shareholder interests with the needs of society. D. costs and benefits. E. ethical actions with making money.

answer

C. shareholder interests with the needs of society.

question

Which of the following is not a question posed in the ethical decision-making metric? A. Would I want to see this action described on the front page of the local paper? B. Will this action help advance my career? C. Would the person I admire most engage in this activity? D. Can I give a clear explanation for my action? E. Will I be able to look at myself in the mirror and respect what I see?

answer

B. Will this action help advance my career?

question

When integrating ethics into a marketing strategy, a key task is to ensure all potential ethical issues have been addressed and that all employees of the firm have acted ethically. This action would take place during what stage of the strategic marketing planning process? A. brainstorming phase B. planning phase C. implementation phase D. control phase E. revision phase

answer

D. control phase

question

During the _____ phase of the strategic marketing planning process, ethical mission statements can serve as a means to guide a firm's SWOT analysis. A. brainstorming B. planning C. implementation D. control E. revision

answer

B. planning

MKTG Midterm – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards