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Which of the following statements about environmental forces is most accurate?
A. Environmental forces are almost always controllable if the marketing department
correctly scans them.
B. An organization that incorporates the marketing concept can exert just as much
influence on environmental forces as they can exert on that organization.
C. Environmental forces consistently result in negative outcomes for an organization.
D. Some environmental forces can actually enhance a firm's marketing opportunities.
E. Environmental forces can almost always be predicted.
Answer:
Inventions or innovations from applied science or engineering research are referred to
as
A. scientific discoveries.
B. theoretical development.
C. technology.
D. patents.
E. dynamic engineering.
Answer:
Several years ago, SwissAir made some unwise investments to pay for a planned
expansion. As a result, the company had to make some cost-cutting moves that
alienated its customers. Eventually, the company declared bankruptcy, regrouped, and
found itself able to resume business. Its board of directors recently announced that the
company would resume flying if it could prove that the airline could regain at least 75
percent of its lost customers. It decided to allocate $50,000 to determine the likelihood
that its former customers would fly on the airline again and find methods requiring little
or no money that could be used to increase that probability. This description represents
which step in the marketing research approach?
A. define the problem
B. develop the research plan
C. collect relevant information
D. develop findings
E. take marketing actions
Answer:
Nestle and General Mills have __________ to distribute General Mills products like
Cheerios in about 140 markets worldwide.
A. multichannel distribution relations
B. a direct marketing channel
C. a cooperative distribution channel
D. a strategic channel alliance
E. a dual distribution agreement
Answer:
A marketing strategy refers to
A. the means by which a marketing goal is to be achieved, usually characterized by a
specified target market and a marketing program to reach it.
B. the tactical decisions made to implement the marketing program.
C. a technique to quantify performance measures and growth targets of a firm's strategic
business units (SBUs).
D. a road map for the marketing activities of an organization for a specified future time
period, such as one year or five years.
E. the detailed day-to-day operational decisions.
Answer:
Best Foods Company is considering expanding beyond the regional market segments
now served by its Hellmann's mayonnaise. One criterion management wants to use to
evaluate potential new geographic market segments is whether additional real estate
must be purchased or leased to serve new segments. This is an example of which
criterion used to select target market segments?
A. Best Foods' competitive position in the segment
B. Best Foods' product groupings
C. expected growth of the market segment
D. size of the market segment
E. cost of reaching the segment
Answer:
One advantage of using magazines as an advertising medium is
A. the ability to target specific audiences.
B. the relatively short time it takes to place an ad.
C. the extremely low cost.
D. the opportunity to compete with other magazine features.
E. the simplicity of the message.
Answer:
In terms of an organization's business, railroads lost market share in the 20th century
because they
A. had less flexible routes than trucking.
B. defined their business too narrowly.
C. tried to create a business that appealed equally to all people.
D. priced their services too high.
E. were simply an outmoded form of transportation.
Answer:
What percentage of all consumer conversations about brands happens online?
A. 5 percent
B. 10 percent
C. 15 percent
D. 25 percent
E. 40 percent
Answer:
Five trends in the past decade have significantly influenced the landscape of global
marketing. One of them is
A. the rise of economic integration and free trade among nations.
B. an increase in economic protectionism and a decline in free trade.
C. a more aggressive attitude towards initiating international tariffs and quota systems.
D. a decrease in most countries' GDPs and a renewal of nationalism.
E. an increase in most countries' GDPs coupled with an increased degree of consumer
ethnocentrism.
Answer:
Which of the following statements about the North American Industry Classification
System (NAICS) is most accurate?
A. After being used for more than 50 years, the NAICS was replaced by the Standard
Industrial Classification (SIC) system.
B. The NAICS permits comparability across countries but does not accurately measure
new or emerging industries.
C. One drawback to the NAICS is that its industry classifications are inconsistent with
the International Standards Organization (ISO).
D. The NAICS groups economic activity to permit studies of market share, demand for
goods and services, import competition in domestic markets, and similar studies.
E. The NAICS is a five-digit code that allows comparison of industries even when
information is limited.
Answer:
Post supports the Boys & Girls Clubs. For every coupon found on a box of any of the
Post brands redeemed, Post promises to donate $0.10 to the organization. This is an
example of
A. cause marketing.
B. philanthropic marketing.
C. goodwill marketing.
D. public relations marketing.
E. societal marketing.
Answer:
In the new-product process, product ideas that survive the business analysis stage
proceed to the __________ stage.
A. market testing
B. screening and evaluation
C. business analysis
D. development
E. commercialization
Answer:
A unique strength relative to competitors that provides superior returns, often based on
quality, time, cost, or innovation, is referred to as a
A. creative advantage.
B. marketing edge.
C. distinctive competency.
D. competitive advantage.
E. core benefit.
Answer:
Figure 11-3A
Figure 11-3A above shows that when the price for Red Baron frozen cheese pizzas
moves from $8 to $6 per unit along the demand curve D1, the quantity demanded
A. increases from 2 to 3 million units per year.
B. decreases from 3 to 2 million units per year.
C. stays the same.
D. increases from 6 to 8 million units per year.
E. decreases from 8 to 6 million units per year.
Answer:
It had been the Campbell Soup Co.'s practice to insert clear glass marbles into the
bottom of soup containers used in print advertisements to bring some of the soup's
ingredients (e.g., noodles or chicken) to the surface, thus misrepresenting the amount of
solid ingredients in the soup. Which agency would monitor such a practice?
A. Food and Drug Administration
B. U.S. Department of Justice
C. Federal Trade Commission
D. Better Business Bureau
E. American Marketing Association
Answer:
Objectives refer to
A. the means by which a marketing goal is to be achieved, usually characterized by a
specified target market and a marketing program designed to reach it.
B. criteria or standards used in evaluating proposed solutions to a marketing problem.
C. statements of an accomplishment of a task to be achieved, often by a specific time.
D. a road map for the marketing activities of an organization for a specified future time
period, such as one year or five years.
E. the detailed day-to-day operational decisions essential to the overall success of
marketing strategies.
Answer:
According to recent research, __________ consumers are most likely to have grown up
with technology.
A. baby boomers
B. baby busters
C. the Greatest Generation
D. Generation Y
E. Generation X
Answer:
Product placement refers to
A. the consumer promotion that involves the use of a brand-name product in a movie,
television show, video, or a commercial for another product.
B. the relative value of a product's physical location based on line-of-sight positioning
on a retailer's shelf.
C. the placed on retailers' shelves or in showrooms based on the slotting fee paid by the
manufacturer.
D. the use of a brand-name product in a movie, television show, or commercial without
the manufacturer's knowledge or permission, and without compensation.
E. a variable fee paid by producers of movies, television products, or commercials to a
manufacturer for the rights to use a product as a prop in one of their creative scenes.
Answer:
Figure 10-6
Companies can employ several different branding strategies. In Figure 10-6 above, D
represents a __________ strategy.
A. retailer branding
B. multiproduct branding
C. multibranding
D. private branding
E. mixed branding
Answer:
A(n) __________ is a privately owned organization that serves its customers to earn a
profit so that it can survive.
A. agency
B. for-profit organization
C. institution
D. nonprofit organization
E. cooperative
Answer:
Johnson & Johnson effectively __________ St. Joseph Aspirin from a product for
infants to one targeted at adults who may need a low-strength aspirin designed to reduce
the risk of heart attacks or strokes.
A. reinvented
B. resurrected
C. reconfigured
D. repositioned
E. realigned
Answer:
The most common form of outdoor advertising is __________.
A. transit
B. point-of-purchase displays
C. billboards
D. kiosks
E. in-store signage
Answer:
The groups primarily served by a firm exhibiting profit responsibility include
A. the general public, public interest groups, and the environment.
B. consumers, employees, and supplier/distributors.
C. owners and stockholders.
D. the general public and competitors.
E. state and federal government.
Answer:
Figure 13-5
According to Figure 13-5 above, market share reaches its highest level during which
stage of the retail life cycle?
A. early growth
B. accelerated development
C. decline
D. maturity
E. either early growth or maturity
Answer:
The 50 million people of the population born between 1965 and 1976, also called the
baby bust, refers to __________.
A. Generation X
B. millennials
C. Generation Y
D. Generation Z
E. baby boomers
Answer:
Three __________ are provided by retailers: self-, limited-, and full-service.
A. levels of distribution
B. levels of involvement
C. levels of service
D. levels of production
E. levels of merchandise lines
Answer:
The key to setting a price for a product is finding an approximate price level to use as a
reasonable starting point. Four common approaches to selecting an approximate price
level are: (1) demand-oriented; (2) cost-oriented; (3) __________; and (4)
competition-oriented approaches.
A. stakeholder-oriented
B. revenue-oriented
C. profit-oriented
D. distribution-oriented
E. cause-oriented
Answer:
Which of the following are most likely to be the anchor stores at a regional shopping
center?
A. Old Navy, Abercrombie & Fitch, and Kay-Bee toy store
B. Hickory Farms, Kay Jewelers, and Radio Shack
C. Foot Locker, Dollar General, and a 7-11
D. Sears, Macy's, and JCPenney
E. Hallmark, Pac Sun, and a Barnes & Noble bookstore
Answer:
Products such as Yoplait's Go-GURT portable low-fat yogurt in a tube demonstrate the
importance of the __________ of packaging.
A. perceptual benefits
B. communication benefits
C. functional benefits
D. technology
E. renewable resources
Answer:
The company name Zappos was chosen because it
A. was the founder's family name.
B. conveyed in Spanish the type of product sold.
C. inferred how quickly you could purchase the product.
D. contained letters from the names of the three founders.
E. reflected the brand name of the first line of shoes they sold.
Answer:
An important factor in developing successful IMC programs is to create a process that
facilitates their design and use. A tool used to evaluate a company's current process is
the IMC
A. audit.
B. sensitivity analysis.
C. what-if analysis.
D. perceptual map.
E. pretest.
Answer:
One of the primary benefits of branding for consumers is that branding __________.
A. identifies products of highest quality
B. guarantees lowest prices
C. makes decision making easier for consumers
D. indicates that products have more features
E. makes advertising unnecessary
Answer:
Recently, St. Joseph Hospital was named one of the "Best Places to Work in Indiana"
for the sixth consecutive year. The hospital touts universal values to "keep healthcare
human" and employees consistently put patients first, which unites them in a common
goal. Hospital President Kathy Young believes that St. Joseph __________ makes both
her employees and patients happier in her hospital.
A. vision
B. service offerings
C. organizational culture
D. pathos
E. behavioral protocol
Answer:
Briefly describe the advantages to the retailer and to the customer of the independent
retailer.
Answer:
Figure 2-6
Using Figure 2-6 above, identify and describe the three steps (A, B, and C) of the
planning phase of the strategic marketing process.
Answer:
Describe the elements in a global channel of distribution.
Answer:
Explain the difference between a markup, an original markup, and a maintained
markup.
Answer:
Explain the difference between the stimulus-response presentation format and the
formula selling presentation format.
Answer:
Identify each stage of the product life cycle and discuss the role of promotion in the
four stages of the product life cycle.
Answer:
Explain Chobani's product strategy that makes Chobani Greek Yogurt different from its
principal competitors.
Answer:
What are the three questions marketing executives consider when choosing a marketing
channel and intermediaries?
Answer:
What value does direct marketing provide customers?
Answer:
What are apps and what significance do they have with respect to convergence of real
and digital worlds?
Answer:
Explain what occurs during the closing stage of the selling process and list the three
types of close.
Answer:
List potential stakeholders for the college or university that you attend.
Answer:
What are the criteria used to select target markets?
Answer:
Describe the different ways to define a product as new.
Answer:
Name each of the four utilities offered by retailing and with each, identify a retailer that
provides that utility.
Answer:
If your primary motive was to raise prices on imports, would you use tariffs or quotas?
Why would you want to do this?
Answer:
Briefly describe the three ways retail outlets can be classified.
Answer:
Describe the three ways services can be classified.
Answer:
Explain the trends in the racial and ethnic composition of the U.S. how marketers can
use this information.
Answer:
Medtronic is the world leader in producing heart pacemakers and other medical devices.
Earl Bakken, Medtronic's founder, wrote its mission statement when he launched the
firm over a half century ago. Summarize Medtronic's mission statement and comment
as to why it is a good one.
Answer:
