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Marketing Midterm Questions
Terms in this set (50)
The primary challenge for 3M's inventor David Windorski was to design new products for college students. The first step in solving this challenge was to:
A) determine the size of the potential new market.
B) identify any unmet needs of students when they studied.
C) convince students that they could benefit from a new 3M product.
D) create a prototype product so students could visualize what it had to offer.
E) obtain funding from 3M to support his research to pursue his new ideas.
identify any unmet needs of students when they studied
Marketing is the activity for creating, communicating, __________ offerings that benefit customers, the organization, its stakeholders, and society at large.
A) and advertising
B) delivering, and exchanging
C) and selling
D) redesigning, and improving
E) persuading, and promoting
delivering, and exchanging
Maddie's mom needs a new computer, so you recommend that she read the latest issue of ComputerWorld magazine because it has reviews of some hot new products. Maddie finds a copy of the magazine in the student bookstore. What is needed next in order for marketing to occur?
A) A bookstore employee needs to show her not only a copy of ComputerWorld but also copies of PCWorld and similar publications.
B) She needs to call Geek Squad tech support first to see if they can help fix a problem with her modem.
C) She must leave the bookstore, go home, and see if there is a free online version of ComputerWorld magazine that she can read on her newly purchased iPad.
D) She must find out if the publication is privately or publicly owned.
E) She must check to see if she has sufficient cash (or credit) to purchase the magazine.
She must check to see if she has sufficient cash (or credit) to purchase the magazine
Which of the following is the MOST IMPORTANT reason that tobacco companies should not consider preteens to be in the market for their products?
A) Marketers should only target adults, regardless of the product.
B) Evidence shows that preteens have no desire to purchase these products.
C) Tobacco products do not satisfy any unmet needs for preteens.
D) Preteens to not have the ability to buy because of legal restrictions.
E) The preteen market is already heavily targeted
Preteens to not have the ability to buy because of legal restrictions
Which of the following groups would be the MOST LIKELY target market for the Toyota Highlander hybrid SUV?
A) People with annual household incomes less than $25,000
B) People who are concerned with fuel efficiency rather than safety
C) People who want to drive off-road to enhance their image as hardcore adventurers
D) People who want to drive fuel-efficient but roomy and safe vehicles
E) People who love to drive fast and are not concerned about the price of gasoline
People who want to drive fuel-efficient but roomy and safe vehicles
A proposed law in New Jersey would ban the use of tanning beds by anyone under the age of 18. This restriction would be an example of which environmental force?
To assess value, a customer determines the __________ he/she receives for the specific price.
A) costs incurred that
B) satisfaction predictions
C) competitive environment
D) benefits received
E) time and money available
Social responsibility refers to:
A) the moral principles and values that govern the actions and decisions of an entire group.
B) the belief that organizations are accountable to a larger society for their actions.
C) the view that firms have a duty to maximize profits for their shareholders so they themselves can voluntarily benefit society.
D) the view that consumers must engage in socially acceptable behaviors like recycling.
E) the view that an organization should discover and satisfy the needs of its consumers in a way that also provides for society's well-being.
the belief that organizations are accountable to a larger society for their actions.
When organizations purchase Dell computers for their employees, they are called:
A) ultimate consumers.
C) organizational buyers.
D) marketing channels.
Material6 makes beautiful hardwood backs for the iPhone, which adds to the smartphone's __________ utility.
"To operate the Company in a way that actively recognizes the central role that business plays in society by initiating innovative ways to improve the quality of life locally, nationally and internationally" is part of Ben & Jerry's:
A) economic mission.
B) underlying goals.
C) product objectives.
D) social mission.
E) cultural objectives.
An organization's long-term course of action designed to deliver a unique customer experience while achieving its goals is referred to as:
A) market share.
C) a marketing tactic.
D) contribution margin.
E) customer value.
In an organization, the __________ overseas the corporate level.
A) board of directors
B) strategic business unit level
C) functional level
D) department level
board of directors
__________ often triggers a business model change, as it has for American newspapers and book retailers.
A) Rising employee wages
B) Economic uncertainty
C) Growth in the retail sector
D) Government regulation
E) Technology innovation
growth in the retail sector
A __________ with active hyperlinks is useful when a chief marketing officer (CMO) wants to see daily what the effect of a new TV advertising campaign is on a product's sales.
A) marketing dashboard
B) marketing plan
C) planning gap
D) Gantt chart
E) marketing metric
In the Boston Consulting Group (BCG) business portfolio analysis model that assesses a firm's strategic business units (SBUs), the horizontal axis of this growth-share matrix represents the:
A) return on investment in percentage terms.
B) market growth rate.
C) market segment size.
D) relative market share.
E) firm's estimated sales growth
relative market share
Beer sales have been flat recently, so Budweiser has been interested in entering the premixed cocktail segment by providing a product that would appeal to those who don't enjoy traditional beer. It recently 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:
A) market penetration.
B) market development.
C) product innovation.
D) product penetration.
A SWOT analysis would be performed during which part of the strategic marketing process?
A) The situational analysis step of the planning phase
B) The market-product focus step of the planning phase
C) The marketing program step of the planning phase
D) The implementation step of the planning phase
E) The goal setting step of the planning phase
the situational analysis step of the planning phase
An important __________ for Medtronic's Champion pacemaker is its long, nine-year life, which cannot be matched by competitors.
A) market analysis
B) market segmentation
C) point of difference
D) distinctive competency
E) organizational opportunity
point of difference
If an organization does not have a replacement for a declining cash cow, which occurred with Kodak and its film business, it will have a harder time filling in a(n) __________ because revenues do not keep pace with planned growth targets.
A) evaluation gap
B) strategy wedge
C) breakeven point
D) planning gap
E) deviation wedge
Which of the following is NOT an example of an environmental force?
A) An international firm started using one of your firm's suppliers, making it more difficult to get material on time.
B) An innovation has made tracking shipped products easier for most companies, including yours.
C) Consumer tastes have changed so that one of the original products made by your firm is no longer very desirable.
D) Your firm succeeded in hiring two recent graduates from Ivy League colleges.
E) The Federal Reserve recently cut interest rates so your firm will get a better rate on a loan it needs for next year.
Your firm succeeded in hiring two recent graduates from Ivy League colleges.
Those born between the baby boomers and Generation Y are called:
A) Generation X.
D) depression-era births.
E) echo boomers.
In an inflationary economy, which of the following is true?
A) Costs to produce products are increasing but prices are going down.
B) Gross incomes are declining.
C) Discretionary incomes are declining.
D) Both the costs to produce and buy products are increasing.
E) Incomes and costs are not changing, but prices are decreasing
Both the costs to produce and buy products are increasing
What has been the effect of price changes for technology-based products as a whole?
A) The increase has put many technology products out of reach for more people.
B) The sharp decline in the cost of technology has meant that customers often now focus on other dimensions like quality or service.
C) The modest increases have been acceptable to customers because they have resulted in large time savings.
D) The government's intervention to stabilize them has helped many technology retailers stay in business.
E) The steady decline has caused customers to suspect that quality has also declined.
The sharp decline in the cost of technology has meant that customers often now focus on other dimensions like quality or service.
Distribution is important in __________, but other elements of the marketing mix have little impact.
A) cross-market competition
C) monopolistic competition
E) pure competition
Because of vague wording and government inactivity, the Sherman Antitrust Act was not effective enough in accomplishing its goals. So 24 years later, it was supplemented by a second piece of legislation known as the:
A) FTC Act.
B) Robinson-Patman Act.
C) Consumer Product Safety Act.
D) Lanham Act.
E) Clayton Act.
What are the moral principles and values that govern the actions and decisions of an individual or group called?
D) Personal conduct code
E) Societal norms
Which of the following most directly impacted the legal concept of caveat emptor in the U.S.?
A) The Sherman Antitrust Act
B) Changing corporate cultures
C) The Consumer Bill of Rights
E) Sustainable development
The Consumer Bill of Rights
When a businessperson makes a decision based on his or her fundamental ethical duty to "do no harm," that person is practicing:
A) cause marketing.
B) moral idealism.
C) social responsibility.
E) green marketing.
Which of the following is an example of green marketing?
A) McDonald's added apple snacks to its Happy Meals for children.
B) 3M created a new petrochemical-based fertilizer for trees.
C) Xerox designed equipment that can be refurbished or recycled.
D) Walmart issued a supplier requirement for cups made from polystyrene to save money.
E) Joe's Lawn Service is offering a special spring promotion.
Xerox designed equipment that can be refurbished or recycled.
Enlightened carmakers hired women designers, engineers, and marketing executives to better understand the way women decide to buy cars. They learned that:
A) women have simpler, more easily met expectations than men.
B) both sexes care about the speed of the vehicle, albeit in different ways.
C) most women dislike the car-buying experience.
D) men, more so than women, value storage space and effortless parking from a car.
E) sleek interiors and exteriors are really not too important in the final car-buying decision.
most women dislike the car-buying experience.
Last autumn, Will was raking leaves. After making several large piles, he went into the garage and discovered that he had no more large garbage bags. He couldn't finish the job without them. Will has just begun the:
A) usage buying sequence.
B) VALS typology.
C) purchase decision process.
D) consumer purchase procedure.
E) stages of consumption.
purchase decision process
Andrea was having trouble sleeping so she was watching television at about 2:00 A.M. When she saw an ad for Lunesta, a prescription sleep aid, she promised herself to make a doctor's appointment in the morning. Andrea's information search was shortened by a perfectly timed advertisement, which is a __________.
A) personal source
B) consumer-controlled source
C) public source
D) family source
E) marketer-dominated source
Cognitive dissonance is most likely to occur in which stage of the purchase decision process?
A) Information search
B) Routine problem solving
C) Problem recognition
D) Postpurchase behavior
E) Alternative evaluation
A consumer will use one of three general problem-solving variations, extended, limited, or routine, based on level of involvement and:
A) advertising awareness.
B) competitors' actions.
C) demand for the offering.
D) product knowledge.
E) communicate style.
A television ad for Volkswagen features several nervous teens examining the damage immediately following a car accident, and the message, "For your dad to kill you, you have to be OK." Marketers at Volkswagen are attempting to appeal to consumers' __________ needs.
Selective __________ is defined as paying attention to messages that are consistent with one's attitudes and beliefs and ignoring messages that are inconsistent.
Kia Motor's 10-year, 100,000 mile warranty is most effective at:
A) speeding up cognitive learning.
B) increasing cognitive dissonance.
C) increasing experiential learning.
D) decreasing perceived risk.
E) increasing brand loyalty.
decreasing perceived risk
Which of the following statements about word of mouth is most accurate?
A) Word of mouth is the second most powerful information source after product endorsements.
B) Teaser advertising campaigns are meant to correct consumer beliefs that produce negative word of mouth.
C) Music and humor in advertising diminish the effectiveness of word of mouth activity.
D) The power of word of mouth has been amplified by the Internet.
E) Word of mouth is perceived as lacking credibility by all but Generation Y consumers
The power of word of mouth has been amplified by the Internet.
The prevalence of working parents and single-parent households has resulted in:
A) the elimination of the purchaser role for most children, regardless of age.
B) preteens and teenagers increasingly being the information gatherers, influencers, decision makers, and purchasers of family products.
C) adults resuming sole control of most family decision making because family interaction is limited.
D) the elimination of the information gatherer in family decision making since time is too valuable to waste.
E) a stronger reliance on traditional sex roles in family decision making to improve efficiency and harmony within the family.
preteens and teenagers increasingly being the information gatherers, influencers, decision makers, and purchasers of family products.
A supplier's forestry management and sustainability practices are among JCPMedia's __________ when evaluating its potential paper vendors.
A) procurement conditions
B) buying behaviors
C) supplier audit measures
D) buy class assessments
E) organizational buying criteria
organizational buying criteria
Mining and construction firms are examples of:
A) consumer markets.
B) global markets.
C) reseller markets.
D) industrial markets.
E) government markets.
A disadvantage of the North American Industry Classification System (NAICS) is that:
A) it only lists the top ten firms in any particular industry.
B) it is too complex for the average business person to navigate.
C) it only covers organizations with sales in excess of $1 million.
D) the three respective governments will not reveal data when too few organizations exist in a category.
E) it makes it impossible to determine how a firm's customers are coded.
the three respective governments will not reveal data when too few organizations exist in a category.
Many companies have broadened their buying objectives to include an emphasis on:
A) purchasing from as many vendors as possible to avoid stockouts.
B) purchasing as few suppliers as possible to minimize transactions.
C) purchasing from women-owned suppliers and vendors.
D) diversifying product lines to include products from global vendors.
E) diversifying product lines to minimize political risk overseas.
purchasing from women-owned suppliers and vendors.
Although not strictly illegal, the U.S. Justice Department frowns on reciprocity because it:
A) restricts the normal operation of the free market.
B) gives an unfair advantage to smaller companies.
C) reduces that amount of taxes paid by the parties involved.
D) gives an unfair advantage to larger corporations.
E) encourages free trade to the detriment of local industries.
restricts the normal operation of the free market.
Purchasing and engineering personnel would visit potential suppliers to assess their quality control at which stage in the organizational buying process?
A) Problem recognition
B) Information search
C) Alternative evaluation
D) Purchase decision
E) Postpurchase behavior
During the next-to-the-last stage of the organizational purchase process, the organization buyer:
A) looks for potential suppliers.
B) formally evaluates the performance of a supplier.
C) awards a contract.
D) evaluates a supplier's financial status.
E) recognizes a notable issue requiring change.
awards a contract.
Who in a buying center controls the flow of information and may keep it from reaching others?
__________ is common in organizational markets because these buyers depend on timely information from suppliers and value the reduction in order processing costs.
A) A sealed bid process
B) A buying center
C) Derived demand
D) Online buying
A) are seller-initiated.
B) result in a downward pressure on bid prices.
C) have an increasing number of buyers as the auction progresses.
D) do not allow sequential bidding.
E) result in the bidder with the highest price getting the business.
result in a downward pressure on bid prices
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