Upgrade to remove ads
Introduction to Marketing Combined Quizzes
Terms in this set (123)
A new hardware company is writing its mission statement. Which of the following is the BEST mission statement possible for the new company?
We will help customers build, invigorate, restore, refurbish, or completely redesign their homes or businesses.
Which of the following actions helps a company find the game plan for long-run survival and growth that makes the most sense given its specific situation, opportunities, objectives, and resources?
When a company starts the strategic planning process at the corporate level, it begins by _____________________________.
defining its overall purpose and mission
Which of the following is NOT a step in the strategic planning process?
Set revenue and financial goals
After creating a company's mission and objectives, the executive team must then plan ____________ by keeping in mind the best fit for its strengths, weaknesses, and opportunities in the environment.
its business portfolio
Stars, cash cows, question marks, and dogs are the four types of strategic business units (SBUs) defined in which of the following?
What are stars in the growth-share matrix?
High-growth, high-share businesses or products
Using the BCG growth-share matrix as a guide, Masumura Technologies identified question marks in its business portfolio but is currently maintaining its market share. At a recent meeting with the company's senior management team, the CEO of Masumura and her team members decided to allocate all of the company's profits toward the growth and expansion of these question marks, in order to cause the question marks to become stars. What is likely to happen to this company?
The growth of the company will be unpredictable because there is no guarantee that a question mark will become a star.
In analyzing a company's current business portfolio, what is management's first step?
Identify strategic business units
The goal of a market development growth strategy is to do which of the following?
Identify and develop new markets for current products of a company's market
A value chain consists of which of the following?
Internal departments and other companies that carry out value-creating activities
A company's value chain is only as strong as its weakest link. What should a company do to properly gauge the strength of its links and continually improve?
Examine how well each group performs its work of adding customer value.
To create value for customers, marketers must improve the performance of the ______________, which includes partnering with suppliers, distributors, and customers.
value delivery network
Which of the following is at the center of marketing strategy and programs?
Customer engagement, value, and relationships
When consumers respond in a similar way to a given set of marketing efforts, they can be referred to as a _________.
Nibbles Pet Food Corporation is in the process of developing its new market strategy. The marketing team has already established the company's niche
organic dog and cat
contracted to sell it in several high-end pet stores. The team has also determined the optimum price to create value for customers and still make a profit. What does the marketing team need to do now?
Create a promotion strategy to increase customer awareness
What is the purpose of the marketing mix as part of the overall marketing strategy?
To produce a response that influences a demand for the product from the customers the company is targeting
Which of the following is a valid concern when it comes to the four Ps concept?
It may omit or underemphasize certain important activities.
Which of the following is NOT part of an overall SWOT analysis evaluation of a company?
Why is marketing return on investment (ROI) so difficult to measure?
There is no consistent definition.
A marketing dashboard is used to do which of the following?
Monitor strategic marketing performance
Which of the following is NOT one of the marketing management functions?
Denim Blue Jean Corporation is a growing company located in Washington State, but it is beginning to develop a presence in the surrounding states as well. It sells only one
it has 12 different lines of jeans that cater to men, women, children, babies, toddlers, and teens. Which type of marketing department organization would BEST suit Denim Blue Jean Corporation?
Market management organization
Sanchez Hispanic Foods and Seasonings has started to grow larger than the Sanchez family could ever have imagined. The company is having a hard time keeping track of all of the business' marketing activities. They know that they are going to need help to keep the business growing and are looking for solutions. Which of the following potential hires is likely the best decision for the Sanchez family?
Noah Lopez, a marketing specialist and expert who would be hired as the Sanchez family's new chief marketing officer
How do the individual components of a SWOT analysis work together to determine the status of a company?
By ascertaining a company's strengths, relating them to opportunities, minimizing weaknesses, and identifying threats to growth and development
The role of a company's marketing intermediaries is to do which of the following?
Help the company find, promote, sell, and distribute products
The demographic, economic, natural, technological, political, and cultural forces that affect a company's ability to serve its customers make up which of the following?
Nguyen's Sporting Goods is having difficulty obtaining the credit it needs to expand. What should the company do in order to alleviate its financial situation?
Work out a plan with its financial intermediaries
Jill Parker owns 2,000 acres of ranchland in Iowa. Recently, a supply of natural gas was discovered on her property. Not knowing much about the marketing environment, she asks you what she should do. Which of the following is the BEST advice?
Jill should focus on the business market and license the natural gas rights.
How does the microenvironment of a company differ from its macroenvironment?
The microenvironment deals with the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.
The group of factors that affect consumers' purchasing power and spending patterns is called the _________________.
__________________ is a group numbering 55 million or more consumers and sometimes is an overlooked "in-between" consumer group because it is both smaller and less materialistic than other groups and prizes experience, not acquisition.
Which generational group seamlessly blends online and offline worlds as they socialize and shop?
Of the following, which best reflects how the American population has changed over time?
It has become more diverse, better educated, and more mobile.
Which of the following generational groups represents one of the most powerful forces shaping the marketing environment?
Which of the following includes shortages of certain raw materials, higher pollution levels, and more government intervention?
The natural environment
Wonders such as smartphones, driverless cars, and antibiotics can be attributed to which marketing environment?
Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six years, sales have continuously declined and profits have almost completely disappeared. The owner of Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to Tina's Tunes?
Tina's Tunes is likely to fail because it is ignoring the technological environment.
Which of the following identifies a change in the technological environment that could affect the success of a business?
A company develops a new battery that lasts twice as long as its predecessor.
There have been dramatic changes in the political environment that affect marketing. Which of the following does NOT represent one of those changes?
Strong emphasis on free trade and open borders
The purpose of business legislation is primarily based on ________.
protecting companies from each other
The major cultural values of a society are expressed by people's views of ____________________.
themselves, others, organizations, society, nature, and the universe
A wedding services company changes its marketing strategy to reflect the fact that more LGBTQ (lesbian/gay/bisexual/transgender/queer) marriages are taking place. The company is offering a broader range of ceremonies that cater to this market. Which of the following environments must this wedding company analyze?
To exercise social responsibility, many companies are linking themselves to what type of marketing?
The second purpose of government regulation is to _____________________.
protect consumers from unfair business practices
The third purpose of government regulation is to _____________________.
protect the interests of society against unrestrained business practices
Chicago's Best Pizzeria has been operating on the north side of Chicago for more than 30 years. Its target market includes young urban professionals who want new-style organic pizzas with exotic ingredients. However, in recent years, the population in the pizzeria's neighborhood has been shifting, and now fewer young urban professionals live there. The population has grown older and wants traditional pizza, not pizza with exotic ingredients. Which of the following identifies the pizzeria's BEST response to this situation?
Target a new market with a different product.
Beverly's Burgers came under fire recently when allegations were made that its veggie burgers were actually made with beef. To counter the claims, the restaurant called in a company to test not only its veggie burgers, but also the rest of its vegetarian options to prove they lacked meat. The results were displayed publicly on the restaurant's Facebook page. What BEST describes Beverly's Burgers' response to the allegations?
To be successful, why should companies try to adopt a proactive stance on marketing?
A proactive stance allows a company to take advantage of opportunities as they arise.
Proactive businesses often take aggressive actions to affect consumers and the forces in their marketing environments. Which of the following does NOT depict a proactive company?
A local restaurant refusing to counter false allegations of salmonella
Which of the following BEST describes the purpose of customer insights?
To create more value for customers
What constitutes a marketing information system (MIS)?
A system to generate and validate actionable customer and market insights
Calvin's Cupcakes is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST path for this company to start to develop an efficient MIS?
Assess the information needs of the company
Juanita owns a small hot-air balloon company in Albuquerque, New Mexico. She recently started a Facebook page for her company, and many of her customers are asking for store-sponsored hot-air balloon trips. They believe Juanita's expertise would make her the perfect guide. Juanita decides to host quarterly hot-air balloon trips and experiences a huge increase in sales and customer satisfaction. Which of the following is the BEST conclusion that can be drawn from Juanita's situation?
Customer insights can provide valuable information to a small businesses.
A company's marketing information system (MIS) is valuable because it ___________________.
enables a company to use customer insights to improve relationships with customers
Which of the following statements about big data is correct?
One result of big data is that marketing managers are often overloaded and overwhelmed with information.
The real value of marketing information rests in the _____________________.
customer insights it provides
Which of the following is the primary reason firms use competitive marketing intelligence?
To gain early insights into competitor moves and strategies, and to prepare quick responses
Marketers obtain needed marketing information from which of the following?
Internal data, marketing intelligence, and marketing research
Which of the following is NOT a primary goal of competitive marketing intelligence?
Creating an understanding of the business-to-business environment
Which of the following describes the type of research used to help define the research problem and suggest hypotheses?
Which of the following is NOT a step in the marketing research process?
Comparing research findings to other studies
Which of the following information must a researcher evaluate to make certain it is relevant, accurate, and impartial?
A company is conducting market research to determine the best areas in which to sell its product. It has developed the research plan. What is the next step of this company's research plan?
Implement the plan
Why is it important for a company to collect both primary and secondary data when conducting marketing research?
To have a "full picture" of the subject of its study
Which of the following BEST describes research relationships?
Observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research.
You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In exchange, you receive a small payment. You are participating in a(n) ________.
Which of the following statements about online research is correct?
Online surveys generally have higher response rates than those conducted by mail or phone
Which of the following correctly describes customer purchases, sales force contacts, service and support calls, web and social media site visits, satisfaction surveys, credit and payment interactions, and market research studies?
___________consists of the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.
A power tool company wants to give its customers access to internal, nonpublic information about how best to use its product in creative ways. What should the company create to provide customers with this information?
A company extranet
Which of the following would be good advice for someone conducting marketing research in a foreign country?
Reaching respondents in other parts of the world is more difficult than it is in the United States.
An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following is the CPO MOST likely to do as a function of his or her job?
Which types of companies would most benefit from conducting marketing research?
Both large multinational firms like Disney and IBM and small local firms
_________ refers to the practice of integrating ethnic themes and cross-cultural practices within a company's mainstream marketing.
Total market strategy
Which of the following is NOT a social factor influencing consumer buying behavior?
A purse company's ads feature the members of a popular housewives reality show. Product sales increase significantly among fans. From fans' viewpoint, the housewives reality show is a ______________.
Marketers of brands understand that they must figure out how to reach ___________________ that can exert social influence on others.
When marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ________.
generating person-to-person brand conversations
Which of the following is a personal characteristic influencing a consumer's buying behavior?
Which of the following needs in Maslow's hierarchy is generally satisfied first?
According to the model of buyer behavior, what is in a buyer's "black box"?
The buyer's characteristics and decision process
What is the first step of the buyer decision process
Consumers obtain information from numerous sources. Which of the following involves dealer and manufacturer websites, packaging, and displays?
______________________ determines if a buyer is satisfied or dissatisfied with a purchase.
The relationship between the consumer's expectations and the product's perceived performance
Which of the following lists the five steps of the buyer decision process in the correct order?
Need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior
Which of the following refers to the degree to which an innovation fits the values and experiences of potential consumers?
____________________ is a characteristic important in influencing an innovation's rate of adoption and described by the degree to which the innovation may be tried on a limited basis.
Which of the following is likely to slow the adoption of a new technology?
Which of the following are tradition-bound, suspicious of changes, and adopt the innovation only when it has become something of a tradition itself?
Which of the five characteristics identified has an inverse relationship with an innovation's rate of adoption, meaning as this characteristic increases, the rate of adoption is slower?
Which of the following is often considered a key business marketing strategy for winning and holding accounts?
Which of the following statements regarding the business market is correct?
Many sets of business purchases are made for one set of consumer purchases.
What is the nature of demand in business markets?
Demand in business markets is derived demand.
___________________ consists of many different people who play multiple roles in the buying process.
The buying center
The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the first stage in this process?
Which of the following is NOT one of the typical advantages of e-procurement systems?
Improving customer-supplier relationships
________________ is one problem with business-to-business e-procurement.
Suppliers being pitted against one another
Dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies is known as ______________________.
Which of the following describes the process of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers?
Heeltoe, a boutique that caters to the footwear needs of women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on ________ variables.
Which of the following is a variable used to segment business buyers that is not used to segment consumer buyers?
H2Coast, an automobile manufacturer, produces fuel-efficient hybrid vehicles that are targeted toward high-end exotic-vehicle collectors with ample leisure time. H2Coast most likely segments the consumer market based on ________ variables.
Munoz Specialty Foods groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Munoz creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its market?
Which of the following describes the process of dividing markets into groups based on consumers' knowledge, attitudes, uses, or responses?
Kidcomp, an American computer-manufacturing firm, targets children younger than age 10 by providing free games and applications. The firm's marketing approach is reflective of ________ segmentation.
age and life-cycle
The type of segmentation that forms segments of consumers who have similar needs and buying behaviors even though they are located in different countries is known as _________.
__________________ segments are those segments that are conceptually distinguishable and respond differently to different marketing mix elements and programs.
The type of segment characteristic in which the size, purchasing power, and profiles of the segments can be quantified is known as _______________________
At one time, Miller Beer was known as the "champagne of bottled beer." It was targeted at an elite class of customers. Later, to increase sales, Miller was repositioned to attract members of the working middle class. What is this segmentation method called?
Dividing buyers into groups based on social class, lifestyle, or personality characteristics is called ________ segmentation.
Firms that manufacture seasonal products target their consumers primarily through ________ segmentation.
The marketing manager at Only Organic Delicatessen targets customers who are focused on organic, healthy food choices but who still want to dine out. The restaurant chain offers a wide variety of organic, low-fat, locally raised produce and foods. Only Organic's approach is best referred to as ________ segmentation.
Which of the following would make a segment less attractive to enter?
New entrants finding it easy to enter the segment
The website leftyslefthand.com markets products to left-handed consumers only. Which targeting strategy does this represent?
When Subaru of America allows Outback buyers to customize cars to meet their exact needs and preferences, it is practicing which type of marketing?
Mi Rancho Supermarkets is a chain grocer that locates stores in neighborhoods with large Hispanic populations. Their stores carry a greater selection of Hispanic and Latin foods. The type of marketing that Mi Rancho uses is an example of ________.
Socially responsible target marketing would classify which of the following as an especially vulnerable target market for harmful or controversial products?
A manufacturer of half-ton pickup trucks creates a positioning map for the U.S. half-ton pickup market. The position of each circle on the map indicates the brand's perceived positioning on two dimensions: price and orientation (economy versus performance). The size of each circle indicates the brand's relative market share. This is an example of a ________________.
perceptual positioning map
The Ritz-Carlton has carefully created a strong and distinctive differentiation strategy, which is supported by everything the company says, is, and does. Which type of differentiation is this?
When marketers aggressively promote only one benefit to the target market, the benefit promoted is known as the product or service's _____________________.
unique selling proposition
Amazon is now promising same-day pick-up of goods as well as local secure pick-up points. What point of differentiation is this?
If competitors cannot easily copy the benefit a company chooses to promote, that benefit is said to be _________.
YOU MIGHT ALSO LIKE...
Marketing Makeup Test
Business Foundations - Chapter 11 Soluti…
MKT 340 Quiz 1
OTHER SETS BY THIS CREATOR
Introduction to Marketing Final Exam
Intro to Marketing
Introduction to Art History II