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Final Exam - Questions from Quizzes
Terms in this set (180)
Social responsibility refers to
the belief that organizations are accountable to a larger society for their actions.
The internal response that customers have to all aspects of an organization and its offerings based on direct and indirect contacts is referred to as
The 4 Ps of the marketing mix include product, promotion, place, and
The uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces are referred to as
Market segments are homogeneous in two ways: prospective buyers have common needs and they
will respond similarly to marketing action.
All of the following are parts of marketing that provide value to the consumer and other stakeholders except which?
If after running three miles you feel thirsty, marketers might say you have developed a(n) __________ to find something to drink.
When a pharmaceutical company purchases a new fleet of Toyota Priuses for its sales staff, each of whom travels many miles daily on client visits, the company is considered a(n)
The primary difference between a good and a service, both of which are products to the marketer, is that a good is __________ and a service is __________.
a physical object; intangible
When Tori was looking for housing in the fall, she saw a "for rent" sign on a house near her school. Though she tried the number on the sign repeatedly, no one answered the phone and there was no way to leave a message. Marketing did not occur because
there was no way for the parties to communicate.
With a __________, a marketing manager can glance at a graph or table on a computer screen and can make a decision whether to take action or to analyze the problem further.
A firm's special capabilities, like skills, technologies, or resources that distinguish it from other organizations and provide customer value are referred to as?
Comparing the results of the marketing program with the goals in the written plans to identify and act on deviations occurs during the
American Red Cross's __________ is to be dedicated "to prevent and alleviate human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors."
Teach for America is an example of
a nonprofit organization.
For-profit organizations pursue several different types of goals such as profit, sales, market share, quality, customer satisfaction, employee welfare, and social responsibility. Which of these statements is most accurate?
If profits are acceptable, a company may elect to maintain or increase its sales even though profits may not be maximized.
The outdoor brand The North Face intends to capture some of its competitors' business in Europe in the next few years, even amid the stagnant economic conditions there. The firm cites the active lifestyles there and the relatively low cost of entry for its backpacking and hiking sports gear, which attracts those planning a low-budget "staycation." The North Face most likely has a __________ goal.
An important __________ for Medtronic's Champion pacemaker is its long, nine-year life, which cannot be matched by competitors.
point of difference
When its beer sales were flat, Budweiser became interested in entering the premixed cocktail segment by providing a product that would appeal to those who don't enjoy traditional beer. It launched Bud Light Lime-A-Rita, a margarita-flavored, beer-based cocktail, sold in cans and bottles and best served over ice. This is an example of
To thrive in today's rapidly changing environment, a visionary organization must specify its foundation, set a direction, and formulate
Which of the following most directly impacted the legal concept of caveat emptor in the United States?
the Consumer Bill of Rights
________ can be thought of as the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings.
From 2007 to 2010, a Chinese national who was employed by Dow Chemical as a research scientist delivered stolen trade secrets pertaining to organic fertilizers to individuals in Germany and China for the purpose of developing competing products. The employee was subject to confidentiality, as detailed in an agreement that he had signed addressing his obligations for handling confidential information and trade secrets. This is an example of
Not only do businesses see benefits from the protections of __________, consumers do as well; they allow consumers to correctly identify the products they want to purchase.
In an inflationary economy, which of the following is true?
Both the costs to produce and buy products are increasing.
When you begin your first full-time job, you have a monthly income of $3,500. Your federal and state taxes are $1,000. You pay $600 in rent, have a $300 car payment, and spend $300 on food and $200 on clothes. The remaining $1,100 would be considered your
__________ often assist companies and their employees with ethical issues by formally addressing contributions to government officials and political parties, customer and supplier relations, conflicts of interest, and accurate recordkeeping.
Codes of ethics
Oral-B now has a toothbrush that can connect to your smartphone to provide real-time feedback on your brushing. This is an example of a(n) __________ force that could impact other industries.
Which of the following is an example of green marketing?
Xerox designed equipment that can be refurbished or recycled.
The Clayton Act can be considered stronger than the Sherman Antitrust Act because
it forbade certain actions that lessen competition, even if no actual harm has yet occurred.
As a situational influence, antecedent states include
the amount of cash on hand.
Which of the following is a psychological influence on the consumer behavior decision process?
Important variables in the family life cycle are age, marital status, and
presence of children.
Devin wasn't going anywhere for spring break; she just wanted to sit around and binge watch something on Netflix. She went next door to ask a friend who shared her taste in television and got a recommendation for Master of None. Devin's information search was shortened by a discussion with her neighbor, which is a __________.
The market leader for a(n) __________ product must make special efforts to avoid stockout situations so that buyers don't substitute a competing brand.
Comparison of a product's performance with one's expectations to determine a level of satisfaction is most likely to occur in which stage of the purchase decision process?
The __________ subculture as a whole is characterized by hard work, strong family ties, appreciation for education, and median family incomes exceeding those of any other ethnic group.
A consumer will use one of three general problem-solving variations—extended, limited, or routine—based on product knowledge and
level of involvement.
If Carter is happy with how his new Lifeproof phone case protected the phone when he spilled some water on it, this would be considered which variable of the behavioral learning process?
Using the same brand name for different products is an application of which concept from behavioral learning theory?
result in a downward pressure on bid prices.
An advantage of the North American Industry Classification System (NAICS) is that
it groups economic activity to permit studies of market share, demand, and import competition.
Staples, an office supply chain, is an example of which type of organizational buyer?
Which of the following is a commonly used organizational buying criterion?
production facilities and capacity
Harley, the information technology manager for an engineering firm, was very involved in the purchase process for acquiring cloud storage for both current and archived drawings and calculations that engineers generate. The Vice President of Operations made the final choice. Here, Harley performed what function in the buying center?
Lowe's and Home Depot no longer purchase lumber from companies that harvest timber from the world's endangered forests because they have which buying objective?
One challenge associated with selling to organizations is that
there are often far fewer buyers.
Tyler co-owns a coin-operated laundry downtown with his two brothers, but he does most of the day-to-day management. Which of the following would most likely be a straight rebuy for Tyler?
reordering single-use detergent packets for his vending machine
Although not strictly illegal, the U.S. Justice Department frowns on reciprocity because it
restricts the normal operation of the free market.
Business-________ marketing is the marketing of products and services to companies, governments, or not-for-profit organizations for use in the creation of products they can produce and market to others.
Back translation is
the practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors.
__________ makes it possible for Ford to invest $60 million in a Mexico City manufacturing plant to produce smaller cars and light trucks for global sales.
The North American Free Trade Agreement
A French cooperative called Sodima allows General Mills to sell Yoplait in the United States in return for a fee, a global market entry strategy known as what?
__________ has resulted in more consistency in regulations, allowing Black & Decker, the maker of electrical hand tools, appliances, and other consumer products, to produce just 8 (instead of 20) motor sizes for the European market, resulting in production and marketing cost savings.
When companies price their products very high in some countries but competitively in others, they face which problem?
a gray market
The dynamics of world trade are evolving; ________ is now the largest region measured by world trade.
Once a company has decided to enter the global marketplace, it must select a means of market entry. As the firm moves from exporting to direct investment, the amount of financial commitment, risk, marketing control, and profit potential
Which of the following statements about global brands is most accurate?
A global brand uses the same product formulation or service concept across multiple countries and cultures.
The Foreign Corrupt Practices Act of 1977 made what practice illegal?
bribing an official of a foreign government to obtain business in that country
__________ decides on trade disputes between members across the world and issues binding decisions.
In 2017, a marketing manager for New Balance's Minimus golf shoe needs to forecast sales through 2019. She begins with the known totals for 2016 and adjusts for positive factors like acceptance of new high-tech designs and great publicity, and for negative factors like the stagnant economy and predicted moves by the competition. This type of forecast is referred to as
A company is interested in producing a dinosaur game for mobile phones and tablets. It selects a representative sample of boys and girls ages 4 to 8 who currently have access to a mobile device and like dinosaurs. After interviewing the children and collecting other relevant data, the firm then makes generalizations about what all young children want in their apps. The method used is
Two special methods vital to marketing researchers are __________ and __________.
sampling; statistical inference
In eight small group sessions with customers, 3M heard complaints that standard steel wool pads scratched their expensive cookware. The findings from this research lead to the development of 3M's internationally successful Scotch-Brite Never Scratch soap pads. The research method 3M used was
The final step in the five-step marketing research approach is to
take marketing actions.
Supermarkets may use __________ on information collected at checkout to determine that beer and diapers are often purchased together, and they may act on this information to place those items near one another in stores.
Representatives from Kraft spent several months with consumers in their kitchens, attempting to understand what they wanted in ready-to-serve meals prior to the launch of Kraft Deli Creations. The observational approach Kraft used is called __________ research.
Marketing research is the process of __________, systematically collecting and analyzing information, and recommending actions.
defining a marketing problem and opportunity
You are asked to complete a short survey after attending a free comedy show on campus. If the first question asked you to give an overall impression of the comedian, and had a five-point scale ranging from "hilarious" on one end to "not funny" on the other end, it would be what type of marketing research question?
semantic differential scale
__________ assumes that the underlying relationships in the past will continue into the future; the method is simple but not always correct.
Walmart has been opening Walmart Neighborhood Market stores that are one-fifth the size of its supercenters and intended to compete with stores like Dollar General. One risk to this effort is __________.
Which of the following statements is most accurate about build-to-order (BTO) manufacturing?
BTO is similar to mass customization except that BTO allows for fewer options.
Potential buyers within a market segment should be
similar in terms of the product features sought.
Which of the following is a criterion used to select a target market segment?
costs of reaching the segment
When McDonald's introduced its low-fat McLean Deluxe hamburger, it used __________ to avoid direct competition with Wendy's and Burger King.
There are five steps involved in segmenting and targeting a market. What should a marketer do once he or she has grouped both potential buyers and products to be sold?
develop a market-product grid and estimate size of markets
Though the percentages are not always the same, a general rule in business says that the large majority of a firm's revenues come from what percent of its customers?
Market segmentation involves aggregating prospective buyers into groups that __________ and will respond similarly to a marketing action.
have common needs
Positioning a product or brand effectively involves taking four steps, one of which includes
identifying the important attributes for the product or brand class.
Kitchen World has put its offerings in store locations based upon the cooking activity—the way consumers prepare and present various meals. Everything for baking is in one spot, while food preparation utensils are in another, and table settings are in yet another. This strategy uses
Products that the consumer does not know about or knows about but does not initially want are referred to as
A benefit of performing a SWOT analysis and an environmental scan during the new-product strategy development process is that they
can help identify the strategic role the new product might serve in the firm's portfolio.
Keith liked how the dry cleaner down the street washed and pressed his clothes, but he found the repeated phone calls from staff about his finished laundry annoying. He began to think of the whole place as annoying, which is a function of the __________ aspect of services.
As consumer demand for new homes increases, appliance manufacturers and building material suppliers may experience an increase in demand for their products, which is an example of
Research shows that __________ is the single most important factor for a new product to defeat competitive ones—having superior characteristics that deliver unique benefits to the user.
a distinctive point of difference
When it was introduced, Jergens Ultra Healing Extra Dry Skin Moisturizer was an example of a
Axe Anarchy Bodywash, a men's personal care product, is an example of a
Apple's iPad is considered a ________ because it can be touched and its features can be seen and heard.
Intel Core processors are purchased by Toshiba for its laptops, and are thus considered what type of business product?
Inconsistency in services refers to the fact that
services depend upon the people who provide them, and the quality of that performance may vary from day to day or employee to employee.
Frequently, a product enters the __________ stage of its product life cycle not because of any wrong strategy on the part of companies, but because of environmental changes.
Product line extensions are a form of which strategy?
Ralston Purina offers super-premium dog foods based on "life-stage nutrition." The repositioning strategy Ralston Purina is using here is called
Because soup consumption rises in the winter and declines during the summer, Campbell Soup Co. now advertises more heavily in warm months to encourage consumers to think of soup as more than a cold-weather food. It is primarily using which of the following market modification strategies?
increasing the product's use
Which of the following statements concerning the pricing of services is most accurate?
Service pricing plays a role in balancing consumer demand for services.
Skimming or penetration pricing are appropriate pricing strategies during the __________ stage of a product's life cycle.
The seven Ps of services refer to an expanded marketing mix for services that includes the four Ps (product, price, place, and promotion) as well as
people, physical environment, and process.
__________ begins with new-product purchases first by innovators, and then by early adopters.
Diffusion of innovation
A ________ identifies that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it.
Which of the following is among the six criteria most often mentioned as important in selecting a good brand name?
have no legal or regulatory restrictions
Sears offers a Craftsman radial saw for $499.99, under the presumption that consumers see the Craftsman radial saw as priced at "something over $400" rather than "about $500." This is an application of what pricing strategy?
Which of the following is NOT an example of a price?
Amazon routinely adjusts prices in response to purchase situations and past purchase behaviors of online buyers. This is an example of a __________ pricing policy.
Which of the following is an example of deceptive pricing?
bait and switch
Profit as calculated from the profit equation can be challenging to predict because the ________ varies with the chosen price, and can also impact the variable costs through production efficiencies.
A __________ visually shows that the total revenue curve and the total cost curve intersect at a point of zero profit.
Boeing has often cut its prices drastically to try to maintain its 60 percent of sales of commercial aircraft as it competes with Airbus. As a result of its ________ objective, it encountered losses.
College students pay tuition, fees, and other charges each year to attend their educational institution. Using the price equation, what is the final price or cost to attend college for a typical semester based on the following data for an in-state student: tuition = $4,000; technology fee = $25; healthcare insurance = $50; student activity fee = $25; room & board = $5,000; books = $500; transportation & parking = $400; financial aid from work study (10 hours per week at $10 per hour wage) = $100 for 15 weeks; scholarships = $1000; and a discount of $500 for taking 15 credit hours?
North Safety Products manufactures butyl gloves that offer permeation resistance to gas or water vapors for workers who use dangerous chemicals like ketones. The company has fixed costs of $10 million for its butyl glove production and unit variable costs of $5 per pair. If the company charges $15 per pair, how many pairs of gloves must it sell to break even?
If you buy fewer than 10 pairs of UVex Clear UVExtreme safety eyewear for your employees, the cost is $7.40. But if you buy 10 or more pairs in a single purchase, the price per pair is reduced to $6.85. This is an example of a
Most of Lands' End's revenues come through catalog and Internet sales, but it also operates several retail stores and factory outlets. This makes Lands' End an example of a(n) __________ marketer.
In a strategy known as ________, GE sells its large appliances directly to home and apartment builders, but uses retail stores, including Lowe's home centers, to sell to consumers.
General Mills and Nestlé work together to distribute General Mills products in about 140 international markets from Mexico to China. This distribution arrangement is known as
a strategic channel alliance.
As part of its ________ function, an intermediary such as a wholesaler performs the function of sharing risk with the producer when it stocks merchandise in anticipation of sales.
The ability of a logistics system to satisfy users in terms of time, dependability, communications, and convenience is referred to as
Adding a wholesaler to the marketing channel for consumer products is most common for
low-cost, low-unit value items.
FedEx provides next-morning delivery, which is considered an example of __________ utility.
An important feature of supply chain management is its application of sophisticated information technology that allows companies to
share and operate systems for order processing, transportation scheduling, and inventory and facility management.
The three major types of vertical marketing systems are corporate, contractual, and
When choosing a marketing channel and intermediaries, marketing executives typically consider, among other things, which will
provide the best coverage of the target market.
________ do not take title to merchandise, but unlike agents, they usually have no continuous relationship with the buyer or seller but negotiate a contract between two parties and then move on to another task.
Among recent retailing innovations is Zipcar. With this service, you sign up, receive a Zipcard, book online, walk to a car, scan your card across a reader on the windshield to open the doors, and drive away. This would be considered a __________ retailer.
At the Rio Olympics in 2016, members of the U.S. Women's National Team were among the first to use Nike's new lighter soccer cleats that allow for more control of the ball. The cleats also help wick away mud and grass. Shortly after the games, retailers were able to sell the same cleats, allowing them to offer which utility?
Trends among category killers such as office supplies (Staples) and electronics (Best Buy) include moving to smaller stores and ________ to compete with online retailers.
Burlington Coat Factory and Ross stores offer customers the sport of searching the racks for great deals on brand-name products. Both retailers use a(n) __________ retailing strategy.
Discount Fishing Tackle is a shop that carries a large selection of fishing rods and reels, bait, tackle boxes, waders, nets, and a few other fishing implements. Discount Fishing Tackle's breadth of product line would be described as __________ and its depth of product line would be described as __________.
Form of ownership, level of service, and the ____________ are important ways that retail outlets can be classified.
type of merchandise line
What do automatic vending, television home shopping, and direct selling have in common?
They are all forms of nonstore retailing.
Direct selling is likely to grow in markets
outside the United States.
Consumers often view ________ shopping as less convenient because of lack of parking, higher crime rates, and exposure to the weather.
central business district
Central to integrated marketing communications (IMC) is
a consistent message across all audiences.
In the hierarchy of effects, the final stage is known as
Four Seasons Hotels sell private residences in several of their properties and send direct mail to prospective residents asking them to request additional information on the telephone or through a website. In terms of direct marketing, this is known as
When a pharmaceutical company places an ad in a home and garden magazine for its new arthritis drug, it is using a ________ strategy.
What is the promotional objective of the decline stage of the product life cycle?
After reading the daily newspaper, the restaurant owner of Zefferelli's Tower of Pizza said, "I see that the owner of Fellini's House of Noodles ran a quarter-page ad in today's paper. We'll have to match his efforts by running our own ad the day after tomorrow." Based on this statement, what promotional budgeting technique is the Zefferelli's restaurant owner most likely using?
competitive parity budgeting
The McDonald's Monopoly game is an example of which type of promotion?
Factors such as the need for improved reliability and security in postal systems and new government regulations represent important challenges for __________ in the global market.
Mass selling is
the opposite of customized interaction, meaning a single message is delivered to the whole group of prospective buyers.
Which of the following occurs during the planning stage of the promotion decision process?
specify the objectives
A snack food company experimented with the frequency of its advertising by working with a local cable provider. On the north end of the city, the frequency was high, while it was only moderate on the south end of town. The company then obtained the checkout scanner data from grocery stores in each part of town for comparison. This is a form of
Which of the following is not a consumer-oriented sales promotion?
For marketers, important objectives of a point-of-purchase display are to
maximize the consumer's attention and provide storage.
Many shoe stores have sales during which they offer 50% off the second pair you purchase when you purchase the first pair at full price. This offer is an example of a
Which of the following statements about attitude tests is most accurate?
In an attitude test, respondents are asked questions to measure changes in their attitudes after an advertising campaign.
A Starch test uses all of the following to score an advertisement except which?
the percentage of those who found the content informative
Which of the following would be conducted before an advertisement was placed in any medium?
__________ advertising is good for products that have achieved a well-recognized position and are in the mature phase of their product life cycle.
In advertising, rating refers to
the percentage of households in a market tuned to a particular TV or radio program.
The headline of a General Motors advertisement in a Reader's Digest magazine read, "I believe these kids will make great engineers. Now I've got to make them believe it." The ad shows an engineer surrounded by seven young people. The ad copy talks about how General Motors believes the more the company puts into the community, the more society will get out of the community. This advertisement is an example of a(n)
Research suggests that Millennials are twice as engaged and exhibit other positive behaviors when they
watch a video on their phones compared to watching on a television.
Mobile marketing has led to important smartphone apps, including which one of the following?
Advertisers who simply want to build awareness may purchase online advertising from small websites that sell ads directly. They are likely to use which performance measure?
cost per thousand
Though the comments are not extensive, brand managers can use social media management tools such as HootSuite to see what ________ users are saying—good and bad—about both their own brands and competitive ones. They can then respond to the negative comments and forward the positive ones.
Which of the following statements about traditional and social media is most accurate?
Social media minimizes the extensive time lags that are common for delivering traditional media.
Which social network has more than 410 million registered members and because of that popularity, more than 4 million companies have Company Pages to post news and job openings?
Most ________ involve a genuine online conversation among people about a subject of mutual interest, one built on their personal thoughts and experiences.
In terms of media richness, social media types rated highest in media richness are
virtual worlds, both game and social.
It is ________ electronically track the social media users who click on a website or ad than it is to track consumers who watch, listen to, or read traditional media.
far simpler to
The clear point of difference in mobile marketing is
its unique ability to empower users by connecting with them individually and continuously.
All of the following are stages in the personal selling process except which?
Which of the following is one of the three major sales presentation formats?
All of the following are output measures of sales objectives outlined in a sales plan except which?
number of reports submitted
Key account management is
the practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative relationships.
Which of the following is a primary task in managing personal selling?
evaluating the performance of individual salespeople
Postponing is one technique for ________ in a sales presentation.
A disadvantage of the straight salary compensation plan is that
it provides little incentive to expand sales volume.
Which of the following is an example of personal selling?
You receive a consultation for teeth whitening services at a cosmetic dentistry office in your city
During the holidays you pick up some toys at Target. When the cashier asks you, "Do you need any batteries for these?" she is using a technique called
Adaptive selling is a common form of which sales presentation format?
need-satisfaction presentation format
Hill's Science Diet markets high-quality dog and cat food. On its website is a link to its Community Connect web page, where pet owners can sign up for its Pet Chat e-newsletter, subscribe to its YouTube channel, and click on a link that goes to Hill's Facebook page, where they can find out the latest news about or comment on Hill's products. This is a description of a website with a strong __________ design element.
Which of the following statements regarding cross-channel shopping is most accurate?
Cross-channel shopping accounts for significantly more sales than from online-only retail sales.
Car dealerships commonly measure website performance by tracking visits, visitor traffic, and __________, the amount of time per month visitors spend on their website.
Uber riders can now opt-in to a service known as Uber Trip Experiences to purchase baseball tickets on StubHub, book flights on United Airlines, or reserve meals at OpenTable while on their trip. The rider has control of which apps are allowed to access the current trip details and offer related content. Here, Uber uses
Procter & Gamble maintains a website, www.pampers.com, for its diaper brand Pampers. This ________ website is effective in generating interest in and trial of Pampers products.
Which of the following product categories accounts for over 20 percent of online retail sales today?
computers and consumer electronics
An interactive, Internet-enabled system that allows individual customers to design their own products by answering a few questions and choosing from a menu of product attributes, prices, and delivery options is known as
Though they have primarily a(n) __________ presence, online retailers Warby Parker, Bonobos, and Blue Nile have opened physical showrooms that give shoppers an opportunity to experience their products.
The primary purpose of transactional websites is to
convert an online browser into an online buyer.
About 35 percent of online consumers are interested in customizing product features or in purchasing build-to-order products that use their specifications. This demonstrates how electronic commerce contributes to customer value through the creation of
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