Market Development & Marketing Product

Market Development & Marketing Product

This quiz is about market development and marketing product.


A(n) ________ firm views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants more than
differences. ​

a. Multidomestic​

b. International​

c. Multinational​

d. transnational – correct


The use of ________ as a tool for exchanging products, services, and information on a global scale is one of the developments that has affected
world trade. ​

a. Buying centers​

b. Language translators​

c. Tariff & quota policies  –   correct

d. Multinational marketing strategies


KFC in Japan sells tempura crispy strips. In northern England, it stresses gravy and potatoes. In Thailand, it offers fresh rice. In Holland, instead of
potatoes, KFC offers customers a potato and onion croquette. In France, KFC sells pastries alongside its chicken. These examples illustrate that KFC
exhibits an appreciation for the ________ of other societies. ​

a. Demographics​

b. Symbols​

c. Customs​–   correct

d. values


Economic infrastructure refers to​

a. a nation’s military-industrial complex.​

b. a country’s governmental services.​

c. the people and the wealth of a nation.​

d. a country’s communications, transportation, financial, and distribution systems.– correct


Yogen Früz is a successful chain of frozen yogurt shops originating in Canada. Archeology Investments has an agreement with the Canadian firm that grants
rights to its company to open and operate Yogen Früz shops in Dubai, Oman, Qatar, Bahrain, and Kuwait. Yogen Früz is engaged in​

a. A joint venture.​

b. Direct exporting.​

c. Indirect exporting.​

d. franchising–   correct


A(n) ________ firm views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants more than
differences. ​

a. Multidomestic​

b. International​

c. Multinational​

d. transnational – correct


The use of ________ as a tool for exchanging products, services, and information on a global scale is one of the developments that has affected
world trade. ​

a. Buying centers​

b. Language translators​

c. Tariff & quota policies  –   correct

d. Multinational marketing strategies


KFC in Japan sells tempura crispy strips. In northern England, it stresses gravy and potatoes. In Thailand, it offers fresh rice. In Holland, instead of
potatoes, KFC offers customers a potato and onion croquette. In France, KFC sells pastries alongside its chicken. These examples illustrate that KFC
exhibits an appreciation for the ________ of other societies. ​

a. Demographics​

b. Symbols​

c. Customs​–   correct

d. values


All of the following are factors required for marketing to occur except which?​

a. something to exchange between two or more parties (individuals or
organizations)​

b. two or more parties (individuals or organizations) with the same wants​–   correct

c. two or more parties (individuals or organizations) with unsatisfied needs​

d. a way for the parties (individuals or organizations) to communicate


A(n) ________ firm views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants more than
differences. ​

a. Multidomestic​

b. International​

c. Multinational​

d. transnational – correct


The use of ________ as a tool for exchanging products, services, and information on a global scale is one of the developments that has affected
world trade. ​

a. Buying centers​

b. Language translators​

c. Tariff & quota policies  –   correct

d. Multinational marketing strategies


KFC in Japan sells tempura crispy strips. In northern England, it stresses gravy and potatoes. In Thailand, it offers fresh rice. In Holland, instead of
potatoes, KFC offers customers a potato and onion croquette. In France, KFC sells pastries alongside its chicken. These examples illustrate that KFC
exhibits an appreciation for the ________ of other societies. ​

a. Demographics​

b. Symbols​

c. Customs​–   correct

d. values


A(n) ________ is a good, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants.​

a. organization​

b. business firm​

c. nonprofit​

d. offering–   correct


A(n) ________ firm views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants more than
differences. ​

a. Multidomestic​

b. International​

c. Multinational​

d. transnational – correct


The use of ________ as a tool for exchanging products, services, and information on a global scale is one of the developments that has affected
world trade. ​

a. Buying centers​

b. Language translators​

c. Tariff & quota policies  –   correct

d. Multinational marketing strategies


KFC in Japan sells tempura crispy strips. In northern England, it stresses gravy and potatoes. In Thailand, it offers fresh rice. In Holland, instead of
potatoes, KFC offers customers a potato and onion croquette. In France, KFC sells pastries alongside its chicken. These examples illustrate that KFC
exhibits an appreciation for the ________ of other societies. ​

a. Demographics​

b. Symbols​

c. Customs​–   correct

d. values


By understanding its core values, an organization can take steps to define its ________, a statement of the organization’s function in society that often
identifies its customers, markets, products, and technologies.​

a. customer value proposition​

b. doctrine​

c. philosophy​

d. mission–   correct


A(n) ________ firm views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants more than
differences. ​

a. Multidomestic​

b. International​

c. Multinational​

d. transnational – correct


The use of ________ as a tool for exchanging products, services, and information on a global scale is one of the developments that has affected
world trade. ​

a. Buying centers​

b. Language translators​

c. Tariff & quota policies  –   correct

d. Multinational marketing strategies


KFC in Japan sells tempura crispy strips. In northern England, it stresses gravy and potatoes. In Thailand, it offers fresh rice. In Holland, instead of
potatoes, KFC offers customers a potato and onion croquette. In France, KFC sells pastries alongside its chicken. These examples illustrate that KFC
exhibits an appreciation for the ________ of other societies. ​

a. Demographics​

b. Symbols​

c. Customs​–   correct

d. values


Business portfolio analysis refers to​

a. a tool that helps a firm search for growth opportunities from among current and new markets as well as current and new products.​

b. a technique that managers use to graphically track their firm’s strategic business units as though they were a single expense in order to identify cost-cutting measures.​

c. a technique that managers use to quantify performance measures and growth targets to analyze their firm’s strategic business units as though they were a collection of separate investments.​– correct

d. an analysis that uses percentage points of market share as the common basis of comparison to allocate marketing resources effectively for different product
lines within the same firm.


If Ben & Jerry’s sold more units of its Chocolate C A(n) ________ firm views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants more than differences. ​

a. Multidomestic​

b. International​

c. Multinational​

d. transnational – correct


The use of ________ as a tool for exchanging products, services, and information on a global scale is one of the developments that has affected
world trade. ​

a. Buying centers​

b. Language translators​

c. Tariff & quota policies  –   correct

d. Multinational marketing strategies


KFC in Japan sells tempura crispy strips. In northern England, it stresses gravy and potatoes. In Thailand, it offers fresh rice. In Holland, instead of
potatoes, KFC offers customers a potato and onion croquette. In France, KFC sells pastries alongside its chicken. These examples illustrate that KFC
exhibits an appreciation for the ________ of other societies. ​

a. Demographics​

b. Symbols​

c. Customs​–   correct

d. values


If Ben & Jerry’s sold more units of its Chocolate Chip Cookie Dough super premium ice cream toU.S. consumers as a result of increased promotion while keeping its price per pint the same, it would be using a ________ strategy.

a. product development​

b. market development​

c. market penetration​–   correct

d. diversification


A(n) ________ firm views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants more than
differences. ​

a. Multidomestic​

b. International​

c. Multinational​

d. transnational – correct


The use of ________ as a tool for exchanging products, services, and information on a global scale is one of the developments that has affected
world trade. ​

a. Buying centers​

b. Language translators​

c. Tariff & quota policies  –   correct

d. Multinational marketing strategies


KFC in Japan sells tempura crispy strips. In northern England, it stresses gravy and potatoes. In Thailand, it offers fresh rice. In Holland, instead of
potatoes, KFC offers customers a potato and onion croquette. In France, KFC sells pastries alongside its chicken. These examples illustrate that KFC
exhibits an appreciation for the ________ of other societies. ​

a. Demographics​

b. Symbols​

c. Customs​–   correct

d. values


The purpose of environmental scanning is to​

a. uncover causes of trends in the marketplace.​

b. uncover opportunities in the marketplace.​

c. stop unhelpful trends in the marketplace, and speed helpful ones.​

d. stop unhelpful trends in the workplace, and speed helpful ones.​

e. identify and interpret trends in the marketplace. ​–   correct


Many large consulting firms are beginning to sponsor “women-only” networking events. The purpose of these events is to offer an opportunity for
women in management to network with other businesswomen, either as clients, mentors, or protégés. This is an example of which environmental force?​

a. social​​–   correct

b. economic​

c. technological​

d. competitive


Recognized for excellence by Advertising Age, Alma creates advertising to reach diverse segments by searching “for that intangible fiber that
touches the lives of consumers creating relevant and unique business-building communication ideas.” Alma has created Hispanic campaigns for McDonald’s,
Sprint, and Clorox as a part of their programs incorporating​

a. psychographic differences.​

b. population inputs.​

c. multicultural marketing.​–   correct

d. a value consciousness.


Oil prices have an impact on transportation costs for many types of products. Should oil prices change, the price consumers pay for products is
often adjusted accordingly. Changing oil prices would be an example of a(n) ________ force.​

a. social​

b. economic​​–   correct

c. technological​

d. competitive


Medication sensors have been developed that can dispense medicines by circulating within the arteries of the body and sensing when the medication is
needed. This is an example of how ________ forces help improve or replace existing products and companies.​

a. ecological​

b. regulatory​

c. technological​​–   correct

d. competitive


Amanda plans to go for a run after her classes are over. As she is lacing up her running shoes, she notices that one of the shoe’s seams is unraveling, and
she thinks it is about time for a new pair. In which stage of the consumer purchase decision process is Amanda at that moment?​

A) information search​

B) problem recognition​–   correct

C) purchase behavior​

D) prepurchase cognition


Lexi wants to find the perfect gift for her older sister’s college graduation. She started looking for the gift last month and expects to spend
another couple of weeks finding a gift her sister will use and like. Lexi is engaging in​

A) routine problem solving.​

B) extended problem solving.​–   correct

C) problem recognition.​

D) integrated problem solving.


Which problem solving variation would likely be used for winter coats, sheets, movie rentals, or electric can openers?​

A) routine response behavior​

B) limited problem solving​–   correct

C) extended problem solving​

D) simulated selection​


The process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world is referred to as​

A) motivation.​

B) attitude formation.​

C) learning.​

D) perception.​ ​–   correct


NetJets is a company that offers one-sixteenth or more ownership in a jet plane for a price beginning at $325,000. It gives purchasers privacy,
convenience, and flexibility as well as saves them time since the plane is available within four hours unless it’s booked by one of the other
shareholders. This is most likely an example of​

a. a medium-involvement purchase that involves limited problem solving.​

b. a high-involvement purchase that involves routine problem solving.​

c. a high-involvement purchase that involves extended problem solving.​–   correct

d. a low-involvement purchase that involves limited problem solving


Which of these statements regarding organizational buyers is most accurate?​

A) Wholesalers and retailers resell the goods they buy without reprocessing them.​–   correct

B) Wholesalers and retailers alter the goods they sell to meet the specific needs of their customers prior to resale.​

C) Manufacturers purchase processed goods and resell them to suppliers who in turn resell them to ultimate consumers.​

D) Ultimate consumers can be considered organizational buyers when they purchase in large quantities.


An industrial buying practice in which two organizations agree to purchase each other’s products and services is referred to as​

A) a tying arrangement.​

B) exclusive dealing.​

C) reciprocity.​ ​–   correct

D) a supply partnership.


A computer company salesperson invites the IT managers of its top 10 customers (in terms of dollar sales) to view a demonstration of the firm’s new
product line, so the salesperson can obtain their opinions regarding various options and configurations that could be offered. These IT managers are most
likely to be the ________ of their organizations’ buying centers.​

A) gatekeepers​

B) influencers​​–   correct

C) reciprocity arrangers​

D) buyers


Swiss specialty chemical company Ciba is the primary producer of the chemical triclosan, the antibacterial agent in many household products such as liquid
soap. Consumers may have heard about research suggesting environmental and health risks associated with the cumulative effects of antibacterial agents.
Changing consumer purchases provide an example of ________ demand for Ciba’s triclosan product.​

A) applied​

B) unitized​

C) industrial​

D) derived–   correct


To be a Walmart supplier, a firm must be able to deliver its products to Walmart’s distribution centers within a 16-minute window. If the driver arrives
before or after the scheduled window, the supplier will be turned away and fined. Walmart’s insistence on choosing a supplier based upon its ability to
provide on-time delivery is an example of a(n)​

A) supplier value dimension.​

B) evaluative criterion.​

C) external performance measure.​

D) organizational buying criterion.–   correct


A global market entry strategy in which a company produces goods in one country and sells them in another country is referred to as​

A) exporting.​ ​–   correct

B) direct investment.​

C) countertrade.​

D) licensing.


Yum! Brands, the parent company of KFC, has pursued an aggressive growth strategy in China. There are now more than 3,700 restaurants in 650 Chinese
cities, and KFC has a 40 percent market share of the entire fast-food industry there. Yum! Brands China owns and directly manages about 90 percent of its
Chinese stores, so it appears that the company prefers ________ in this market.​

A) licensing​

B) local assembly​

C) a joint venture​

D) direct investment–   correct


Sony electronics, Gillette razors, and Nike apparel and shoes are being sold in the same form in many countries. This is an example of which type of global
marketing product and promotion strategy?​

A) product customization​

B) product adaptation​

C) product extension​–   correct

D) product integration


Even though Exxon adapts its gasoline blends for different countries based on climate, the promotion message is unchanged: “Put a Tiger in Your
Tank.” This type of global promotional strategy is known as​

A) product extension​

B) product customization​

C) product adaptation​–   correct

D) dual adaptation


Before Apple’s iPhone 7 was officially for sale in China, it was being sold there. These phones were purchased in the United States and Australia and then
resold by unauthorized vendors in China for between $1,700 and $2,500. These products are considered to be part of​

A) under-the-counter sales.​

B) over-the-counter sales.​

C) the gray market.​–   correct

D) integrated global channels.


The U.S. Commerce Department imposed additional duties of 31 percent to 250 percent on imported photovoltaic products from Chinese solar manufacturers
after ruling that they sold them below cost. The Commerce Department took this action in response to what it saw as​

A) tariff avoidance.​

B) countertrade.​

C) underbidding.​

D) dumping. ​– correct


In class, we noted that a reverse auction ends when there is:

a. a decline in the number of suppliers.

b. an increase in the number of suppliers.

c. a doubling of price from the original offer.

d. the auctioneer rings the bell.

e. a single bidder (supplier) remaining.- correct


According to the lecture, when consider the U.S. balance of trade, marketers should

a. be worried about the negative balance of trade.

b. be happy about the positive balance of trade.

c. realize that as long as there is exporting and importing, there are business opportunities–   correct

d. realize that they can do little to affect the level of exporting.

c. realize that as long as there is exporting and importing, there are business opportunities


Recipco and Tradaq are both companies that connect international companies who want to barter the products they make for the products they need without
using cash or credit. Recipco and Tradaq assist international companies in making

a. countertrades. ​–   correct

b. quota exchanges.

c. trading exchanges.

d. balances of trade.

e. WTO trade arrangements.


Organizational buying behavior refers to

a. the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions.

b. the decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers.–   correct

c. the determination of what to purchase and the quantity to purchase based upon derived demand.

d. the determination of what to purchase and the quantity to purchase based upon the derived supply.

e. the process that organizations use to purchase the raw materials and tools used in the manufacturing of a product.


The administrative, marketing, and manufacturing operations that many international firms, multinational firms, and transnational firms have around
the world are often called

a. divisions. ​–   correct

b. outlets.

c. departments.

d. markets.

e. holding companies.


A global market-entry strategy in which a foreign company and a local firm invest together to create a local business in order to share ownership,
control, and profits of the new company is referred to as

a. licensing.

b. a joint venture.–   correct

c. direct exporting.

d. contract assembly.

e. dual adaptation.


In class, we heard from Patrick Low (who was the Chief Economist of the WTO). He indicated that there has been an “explosion” in Regional
Trade agreements and that these agreements are:

a. highly desirable as they promote stability.

b. better than no agreements at all.

c. not covered by the WTO mandate.

d. something that must be prevented.

e. a challenge to trade without discrimination.–   correct


.

In class, we concluded that firms which succeed in global markets have first:

a. saturated their home markets.

b. studied the legal environment.

c. succeeded in intense domestic competition.– correct

d. have been able to avoid domestic competition.

e. done indirect exporting.


In class, we heard about the main goals of the WTO. Which of the following is NOT one of those goals?

a. Trade Without Discrimination

b. Focus on Merchandise Trade–   correct

c. Predictable and Growing Access to Markets

d. Promoting Fair Competition

e. Encouraging Development and Economic Reform


In a buying center, __________ have the formal or informal power to select or approve the supplier that receives the contract.

a. gatekeepers

b. deciders

c. buyers

d. influencers

e. users


By skillfully using __________, global marketers can tie positive meanings to their products, services, and brands to enhance their attractiveness to consumers.

a. cultural symbols–   correct

b. visual icons

c. trademarks

d. brand names

e. ethnic emblems


Yogen Früz is a successful chain of frozen yogurt shops originating in Canada. Archeology Investments has an agreement with the Canadian firm that
grants rights to its company to open and operate Yogen Früz shops in Dubai, Oman, Qatar, Bahrain, and Kuwait. Yogen Früz is engaged in

a. dual adaptation.

b. a joint venture.

c. direct exporting.

d. indirect exporting.

e. franchising. ​–   correct


Values refer to

a. personally or socially held core beliefs that are consistent within a given culture.

b. the beliefs that dictate a person’s behavior, which are often derived from a religious code of conduct.

c. personally or socially preferable modes of conduct or states of existence that tend to persist over time.–   correct

d. the innate sense of what a person considers to be right or wrong in terms of his or her own conduct when dealing with others.

e. those personality traits regarding honesty and integrity that have been passed down from generation to generation.


According to lecture, which of the following statements is true when it comes to the US Balance of Trade?

a. Imports are up, but less than exports.

b. Exports are up and have exceeded imports.

c. Both exports and imports are down over the last 20 years.

d. Exports are up, but imports are up even more, so the U.S. balance of trade is negative.–   correct

e. The U.S. balance of trade is positive and growing.


If a purchase is a new buy for a manufacturer, the seller should

a. expect a long time for a buying decision to be reached.–   correct

b. neutralize a lot of conflict.

c. expect specifications to be changed several times before the buy is completed.

d. expect to have to do some favors for the decision makers.

e. avoid making concessions or compromises.


A buy class situation affects buying center tendencies in different ways. If there are two or three people involved, the time required for a decision is
moderate, and only present suppliers are considered, the buy class situation is MOST LIKELY a modified rebuy.

One variation of licensing is referred to as

a. direct investment.

b. joint ventures.

c. direct exporting.

d. franchising.–   correct

e. dual adaptation.


Indirect exporting refers to

a. offering the right to a trademark, patent, trade secret, or similarly valued item of intellectual property in return for a royalty or fee.

b. contracting with a foreign firm to manufacture products according to stated specifications.

c. avoiding the use of additional parties when a firm sells its domestically produced products in another country.

d. selling a firm’s domestically produced products in a foreign country through an intermediary.–   correct

e. selling a firm’s domestically produced products in a foreign country without interference by that government.


At which point of the organizational buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor’s
product and customer service?

a. problem recognition

b. information search

c. purchase decision

d. postpurchase behavior–   correct

e. performance review


Which of the following exemplifies an organizational buyer?

a. The owner of a sushi restaurant hires a window-washing service to clean exterior windows–   correct
b. The mayor rents a tuxedo to wear to his daughter’s wedding
c. A local baker buys sugar at the grocery store to make cookies with his children at home.
d. An architect hires a tax service to prepare his personal tax returns
e. A dentist buys a new LG Smart TV for her den.


A sales representative for a pharmaceutical company visits the doctor’s office, hoping to explain a new drug to the doctor. However, the receptionist
explains that the doctor is with patients and will not be able to see the sales rep. The receptionist is acting as an…

a. gatekeeper–   correct
b. user
c. decider
d. buyer
e. influencer


Airbus manufacturers commercial aircrafts that it sells to a variety of airlines worldwide. Still, demand for its products often depends on rates of
air travel among consumers. Demand for Airbus products is referred to as _____demand.

a. implied
b. unitized
c. applied
d. derived–   correct


Becca, an office manager for a small construction company, met with representatives from Xerox & Minolta along with the president and the
accountant to compare options for a new copier for the office. Since she made the copies, she wanted to see the features of the machines, though her boss
would have to approve the final purchase. Becca has what role in the buying center?

a. purchasing agent
b. motivator
c. user–   correct
d. buyer
e. decider


The purchasing manager of Ingram Printing has selected HP as the supplier of its new high-speed printer and negotiated the terms of the contract. The
purchasing manager is the _____ for Ingram.

a. gatekeeper
b. user
c. buyer–   correct
d. decider
e. influencer


To be a Walmart supplier, a firm must be able to deliver its products to Walmart distribution centers within a 16-minute window. If the driver arrives
before or after the scheduled window, the supplier will be turned away and fined. Walmart’s insistence on choosing a supplier based upon its ability to
provide on-time delivery is an example of a(n)…

a. external performance measure
b. organizational buying criterion–   correct
c. derived demand factor
d. supplier value dimension
e. evaluative criterion


In an effort to make better & more efficient purchase decisions, the Ford Motor company includes various people depending on the purchase solution.
Individuals may include key personnel from various departments, including research and development, finance, shipping, marketing & sales. This is a
description of Ford’s…

a. sustainable procurement department
b. selling committee
c. buying committee
d. buying center
e. purchasing unit


Which of the following types of firms are in the industrial market?

a. wholesaling
b. federal regulatory agencies
c. retailing
d. state governments
e. construction–   correct


Graham-Field Health Products makes hospital beds and wheelchairs from the component parts and materials it buys. It sells these manufactured products to
hospitals, nursing homes, and retailers of health care products. Graham-Field Health Products operates in a(n) __________ market.

a. government
b. industrial–   correct
c. consumer
d. service
e. reseller


European Style Furniture (ESF) headquartered in NY , acquires fine furniture from several high-quality manufacturers in Europe and enjoys its exclusive
distribution rights from them to sell to furniture stores throughout the US. In this context, ESF is most likely classified as a(n)…

a. producer
b. reseller–   correct
c. industrial firm
d. government agency
e. service provider


BCG uses business portfolio analysis to quantify performance measures and growth targets to analyze its clients’ strategic business units (SBUs):

a.as if each were a separate investment.
–   correct

b.to establish their worth to society.

c.to determine which would be suited for a SWOT

d.to determine which units are candidates for diversification analysis.

e.to determine which units can be divided into smaller, tactical business units(TBUs).


Four factors are required for marketing to occur: (1) __________; (2) a desire and ability on their part to be satisfied; (3) a way for the parties to
communicate; and (4) something to exchange.

a.a healthy competitive environment
b.government approval
c.a sense of social responsibility
D.an ability to see hidden potential within an environmental force
E.two or more parties (individuals or organizations) with unsatisfied needs–   correct


A customer value proposition is

a.the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale
service at a specific price. .

b.a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.

c. the cluster of benefits that an organization promises customers to satisfy their needs.–   correct


The idea that individuals and organizations are accountable to a larger society is known as

a.the societal marketing concept.

b.social responsibility.–   correct

c.consumerism.

d.sustainable development.

e.capitalism.


The family life cycle concept describes the distinct phases a family progresses through from __________, each phase bringing with it identifiable
purchasing behaviors.

a .the birth of children until they leave home
b. birth to death

c. the birth of children to retirement

d. formation to retirement–   correct

e. marriage to retirement unless a divorce, separation, or death occurs


What are the moral principles and values that govern the actions and decisions of an individual or group called?

A) Beliefs
B) Values
C) Ethics–   correct
D) Personal conduct code
E) Societal norms


What are society’s values and standards that are enforceable in the courts?

A) Ethics
B) Norms
C) Codes
D) Laws–   correct
E) Rights


What are the effective rules of the game and the codes of conduct in business dealings called?

A) Business norms
B) Societal mores
C) Business culture–   correct
D) Fair trade practices
E) Core values


The right to be informed means that:

A) companies have a right to know who purchases their products or services.
B) the government has the right to know what and when you buy.
C) consumers have the right to know all trade secrets of the companies with which they do business.
D) consumers have the right to know the profit margins of manufacturers’ offerings.
E) marketers have an obligation to give consumers complete and accurate information about their products and services–   correct


The American Marketing Association Statement of Ethics identifies all of the following six key aspirational ethical values. These include: _________,
responsibility, fairness, respect, openness, and citizenship.

A) honesty
B) fairness
C) charity–   correct
D) responsibility
E) openness


An employee of a small bicycle retailer who reports to the local Better Business Bureau that her firm failed to deliver 20 online orders and won’t
refund the money to disgruntled customers is an example of a(n):

A) crony.
B) scab.
C) whistle-blower.–   correct
D) corporate snitch.
E) ombudsman.


Which of the following concept embodies profit, societal, and stakeholder responsibility?

A) Cause marketing
B) Moral idealism
C) Social responsibility–   correct
D) Utilitarianism
E) Green marketing


Which of the following is an example of green marketing?

A) McDonald’s added apple snacks in its Happy Meals for children.
B) 3M created a new petrochemical-based fertilizer for trees.
C) Xerox’s equipment that is remanufacturable and recyclable.–   correct
D) Walmart issued a supplier requirement for cups that they must be made from Styrofoam because customers will save money.
E) Joe’s Lawn Service is offering a special spring promotion.


Which of the following is a global undertaking to further green marketing efforts?

A) ISO 14000–   correct
B) Kyoto Protocol
C) Green World (GW) initiative
D) ISO 9000
E) ISO Trans-Global initiative


Which of the following statements concerning cause marketing is most
accurate?

A) The profits generated by cause marketing are usually paid in “good will” rather than actual revenue.
B) The positive effects of cause marketing are significant during the promotion, but they lose their benefit almost immediately after the promotion
runs its course.
C) Cause marketing “causes” are determined by senior management, who authorizes the board of directors to provide direct donations to charitable
contributions selected by the organization’s stakeholders.
D) The vast majority of consumers under 25 say they will switch to a brand that supports a good cause provided the
price and quality of the brands are equal.
–   correct
E) Women are much more suspicious about the sincerity or integrity of cause marketing than men are; therefore, their contributions are significantly less.


All of the following are the result of an interest in the triple-bottom line
EXCEPT:


a. sustainable development.
b. cause marketing.
c. ISO 9000.–   correct
d. green marketing.
e. social audits


Which of the following is an example of green marketing?


a. McDonald’s adding apple snacks to its Happy Meals targeted at children.
b. Lowe’s and Home Depot discontinuing the sale of lumber and other wood products.
c. Levi-Strauss marketing prewashed jeans towards a tween segment.
d. Joe’s Lawn Service offering a special spring cleanup promotion.
e. Walmart implementing buying practices that encourage it suppliers to use containers and packing made from corn, not oil-based resins.–   correct


Personal selling include all of the following modes of communication EXCEPT:


a. video teleconferencing.
b. Internet-enabled links between buyers and sellers. Incorrect
c. a face-to-face encounter.
d. over the telephone.
e. social networks such as Facebook–   correct


All of the following are true about marketing except

A. marketing is a broader activity than advertising

B. Marketing stresses the importance of delivering genuine benefits in the offerings of goods, services, and ideas sold to customers

C. Marketing persuades people to buy the “wrong” things–   correct

D. When an organization engages in marketing, it should also create value for its partners and society

E. Marketing is a broader activity than personal selling


The unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and before-and-after sale service at a
specific price is called:

A. customer value–   correct
B. Target Marketing
C. Benefit proposition
D. value-based marketing


Four factors are required for marketing to occur: (1) __________; (2) adesire and ability of parties to be satisfied; (3) a way for the parties to
communicate; and (4) something to exchange.

A. A healthy competitive environment

B. an affordable and actionable advertising campaign

C. a sense of social responsibility

D. an ability to see hidden potential within an environmental force

E. two or more parties (individuals or organizations) with unsatisfied needs
–   correct


Marketing discovers consumer needs by

A. implementing a marketing program

B. conducting effective marketing research–   correct

C. balancing the marketing mix elements-the four P’s of the marketing program

D. advertising to diverse groups of prospective buyers

E. copying the products and services of competitors


Jakubowski Farms Gourmet Bread Base is the brand name for a mix designed for use in bread making machines. The mixes are sold in 2-pound canisters for
$14.99 plus shipping. People learn about the product through word-of-mouth and bread machine demonstrations the company’s founder gives to groups in
Wisconsin, where she lives. The products are only available through the mail. This is a description of the company’s:

A. action plan

B. marketing segmentation strategy

C. mission statement

D. marketing mix–   correct

E. target market


A target market refers to:

A. people who could purchase a product regardless of who ultimately uses it

B. one or more specific groups of potential consumers toward which an organization directs its marketing program–   correct

C. former customers who now use competitors’ products

D. the cluster of benefits that an organization develops to satisfy consumers’ needs

E. people with both the desire and the ability to buy a specific offering


A firm’s special capabilities, like skills, technologies, or resources that distinguish it from other organizations and provide customer value are referred
to as:

A. points of distinction

B. product differentiation

C. Competitive portfolio

D. sustainable advantage

E. core competencies–   correct


The goal of a SWOT analysis is to:

A. identify market research questions in order to develop new products for new market segments

B. determine how raises, bonuses, and dividends, will be paid

C. reorganize the firm’s marketing department

D. identify the critical strategy-related factors that can impact the firm–   correct

E. fairly allocate governmental resources and financial aid across the industry


The term used to identify an organization’s long-term course of action designed to deliver a unique customer experience while achieving its goals is
referred to as a:

A. marketing strategy

B. policy

C. strategy–   correct

D. plan

E. tactic


The key role of marketing includes:

A. supporting the board of directors

B. operating at the corporate level

C. looking outward by listening to customers–   correct

D. managing executives

E. delivering strategic business decisions


Today’s visionary organization uses three key elements to _______, set a direction, and formulate strategies

A. set financial goals

B. specify its foundation–   correct

C. establish detailed marketing tactics

D. assign job responsibilities

E. establish an organizational chart


A business model

A. is a road map for the marketing activities of an organization for a specified future time period

B. consists of the strategies an organization develops to provide value to the customers it serves–   correct

C. is a measure of the quantitive value or trend of a marketing activity or result

D. consists of the detailed day-to-day operational decisions for an organization

E. is the means by which organizational goals are to be measured and documented


Toyota had some difficulty recovering from a recall crisis from a couple of years ago when it was forced to recall about 6 million vehicles due to variety
of problems, most notably one with the accelerator pedal. To “polish” its brand, it implemented stricter __________ goals to improve the safety and
reliability of its vehicles.

A. profit

B. sales revenue

C. customer satisfaction

D. quality–   correct

E. employee welfare


Which of the following statements regarding environmental scanning is the most accurate?

A. Environmental scanning changes the marketing environment

B. Environmental scanning identifies and interprets potential trends–   correct

C. Environmental scanning should be done at least every five years

D. Environmental scanning focuses primarily on ecological factors

E. There is too much information generated from environmental scanning to make it viable for small firms


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?

A. social–   correct

B. economic

C. technological

D. competitive

E. regulatory (political)


With a proper environmental scan, changes in the demographic characteristics of the population and its values can have a dramatic impact on

A. the marketing concept era

B. marketing tactics

C. market share

D. marketing metrics

E. marketing strategy–   correct


Generally, the U.S. population is becoming

A. smaller, younger, and more diverse

B. smaller, older, and more diverse

C. larger, younger, and less diverse

D. larger, younger, and more diverse

E. larger, older, and more diverse–   correct


Value consciousness is defined as

A. special deals to customers who shop for bargains online

B. the concern for obtaining the best quality, features, and performance of a product or service for a given price that drives consumption behavior–   correct

C. a change in consumption orientation

D. budgeting

E. money management


The College Board reports that since 2000, college tuition and fees have increased by 160 percent while the share of family income required to pay for
tuition at public four-year colleges has risen from 5 percent in 2000 to 14 percent in 2015. This is an example of _____ condition.

A. a deflationary

B. a recessionary

C. a repressive

D. an inflationary–   correct

E. a depressive


The U.S. Securities and Exchange Commission has designated just nine credit-rating agencies as nationally recognized statistical rating
organizations, which include Moody’s, Standard & Poor’s, and Fitch Ratings. These agencies provide opinions on the creditworthiness of other entities and
the financial obligations issued by them. Because so few companies can compete in it, the credit-rating industry would be considered

A. a mega monopoly

B. an oligopoly–   correct

C. a pure competition

D. a monopolistic competition

E. a monopoly


Grape-Nuts was one of the first cereals Post Cereal Co. ever marketed. It scores well in brand awareness studies, but recently its sales have been
steadily declining. Rather than assume the product was a “dog,” the Grape-Nuts marketing manager decided Post should first

A. update the flavor of the cereal by making it slightly sweeter

B. increase the amount spent on advertising and sales promotion

C. do marketing research to identify what needs were not being satisfied–   correct

D. hire additional salespeople who were younger and more assertive to contact grocery stores

E. realign Grape-Nuts as a “star” and increase production


In marketing research, the term sampling refers to

A. testing the effectiveness of a marketing alternative in a supervised setting

B. the collection of various secondary data through electronic or mechanical means

C. allowing a subject to experience firsthand a new or updated product or service

D. selecting representative elements from a population and treating their answers as typical of all those in whom they are interested–   correct

E. testing members from all ages, both genders, and different levels of income and education to guarantee reliable information


Children’s accessory and toy store Red Carpet Baby! uses U.S. Census Bureau information to determine the number of families with children under age 5 for
each state in its market area. Data obtained from this source are called

A. proprietary data

B. primary data

C. secondary data–   correct

D. observational data

E. experimental data


Which of the following is not a disadvantage of online surveys?

A. E-mail surveys may be viewed as junk

B. The cost is high–   correct

C. Some potential respondents have a pop-up blocker that prohibits a browser from opening a separate window that contains the survey

D. Without the necessary technology, respondents can complete the survey multiple times, creating a significant bias in the results.

E. Some potential respondents may employ spam blockers.


Movie studios use tracking studies in which prospective moviegoers are asked questions about an upcoming film release to help them forecast sales. This is
an example of

A. movie advertising

B. marketing research–   correct

C. tactical support

D. cross-movie research

E. movie audits


Consumer behavior includes the actions a person takes in purchasing services and using products and services, including:

A. the physical effort spent on these actions

B. the financial limitations one must overcome to accomplish these actions

C. the mental and social processes that come before and after these actions–   correct

D. the emotional processes that occur during these actions

E. the cognitive and attitudinal processes that must be learned to complete these actions


Scanning memory for previous experiences and also exploring the external environment represent which stage of the consumer purchase decision process?

A. purchase decision

B. information search–   correct

C. problem recognition

D. alternative evaluation

E. financial consideration


Glow Pets, from the makers of Pillow Pets, are a light-up pillow product designed for young children. The pillows are colorful animals that produce a
soft light for 20 minutes at a time and were produced for children with a fear of the dark. As a result, the company aired some ads on various TV programs
showing children being comforted and sleeping restfully with a Glow Pet, making parents and kids alike desire such a situation. The content of the
advertising’s message most likely focuses on which stage of the consumer purchase decision process?

A. problem recognition–   correct

B. information search

C. alternative evaluation

D. purchase decision

E. post-purchase behavior


The feeling of post purchase psychological tension or anxiety consumers may experience when faced with two or more highly attractive alternatives is
referred to as

A. angst

B. the temporal state

C. the dissociative state

D. selective perception

E. cognitive dissonance–   correct


A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better
than competing products is referred to as

A. market penetration

B. points of difference

C. market differentiation

D. product positioning

E. product differentiation–   correct


The annual Sporting News Baseball Yearbook uses 17 different covers featuring a baseball star from each of its regions in the United States, yet each
regional issue has the same magazine content. The publisher is using which of the following segmentation strategies?

A. multiple products with one segment

B. one product with one channel of distribution

C. one product with multiple market segments–   correct

D. one product with changes based on customer behavior

E. multiple products with multiple segments


Kellogg’s has several cereals targeted at different types of users. This is an example of multiple products aimed at multiple markets. Manufacturing these
different cereals is clearly more expensive than producing one, but seems worthwhile if it serves customers’ needs better, doesn’t reduce quality or
increase price, and

A. conforms to all FDA guidelines

B. uses the same promotion and packaging for all segments

C. decreases the cost of the physical plant

D. stabilizes competition

E. better serves customers’ needs – correct


Procter & Gamble (P&G) decided to skip a generation of consumers when it began to market Old Spice deodorant. The target market consists of men
aged 18 to 34 years old (Generation Y) who don’t remember the Old Spice brand sold to their grandfathers (pre baby boomer) many years ago. P&G is using
which type of segmentation variable?

A. behavioral

B. demographic–   correct

C. lifestyle

D. geographic

E. psychographic


Banana Republic, the clothing retailer, focuses a large proportion of its promotional activities toward its Banana Republic Luxe credit card holders.
These Luxe cardholders must reach a specific spending threshold in each year of patronage. The company is using ________ segmentation

A. geographic

B. demographic

C. loyalty

D. psychographic

E. behavioral–   correct


When you leave the library, walk back to your car, and notice that it has a flat tire, you are in which stage of the purchase decision process?

A. problem recognition–   correct

B. alternative evaluation

C. cognitive dissonance

D. routine response behavior

E. prepurchase behavior


You have determined you want to buy an advanced hybrid vehicle, and a visit to Ford’s website has revealed that the Ford Fusion Hybrid SE uses hybrid fuel
technology with the latest in lithium-ion battery technology. You are currently in which stage of the consumer purchase decision process for this type of
automobile?

A. problem recognition

B. needs analysis

C. purchase decision

D. information search–   correct

E. postpurchase evaluation


When an elementary school teacher was returning to school in the fall, she wanted to buy markers and craft paper. She remembered the discount website she
visited last year for her purchases, so she started there to see if the website still carried the items previously purchased. What term best describes the
information search method used by the teacher?

A. personal external source

B. public external source

C. market-dominated external source

D. internal search–   correct

E. market-dominated internal source


When past experience is insufficient, the risk of making a wrong decision is high, and the cost of gathering information is low, a consumer is more likely
to use an __________ for information.

A. internal search

B. extensive search

C. expert directed search​–   correct

D. external search

E. intensive search


Which of the following statements about marketing activities is most accurate?

a. Marketing is essentially developing the right product and convincing potential customers that they “need” it, not just “want” it.
b. Marketing is affected by society but rarely, if ever, affects society as a whole.
c.Marketing activities are the sole responsibility of the marketing department; other departments are involved only if there is an emergency (such as a product
recall).
d. Environmental forces do not affect marketing activities as long as a firm closely monitors its environment through rigorous market research.
e. The marketing department both shapes and is shaped by its relationship with internal and external groups.–   correct


To avoid new-product failure, new-product expert Robert M. McMath suggests

a. focusing on customer benefits and learning from the past.–   correct
b. building a hierarchical organizational structure so that more people have a chance to spot product problems.
c. releasing several different versions of a new product at the same time to see which one is most successful.
d. increasing the marketing budget, since “success comes to those who can outspend the competition.
d. “implementing a regional rather than a nationwide rollout of a new product


All of the following are examples of products or services that satisfy a consumer need except which?

a. a sales tax–   correct
b. a student dormitory
c. a jacket
d. an apple
e. a pair of jeans


The value to consumers that comes from the production or alteration of a product or service constitutes__________ utility.

a. place
b. market
c. form–   correct
d. possession
e. time


In Figure 1-2, “A” represents __________ and “B” represents __________.

a. sales department; manufacturing department
b. decisions by management; purchases by customers
c. discovering consumer needs; satisfying consumer needs–   correct
d. employees efforts; stakeholder rewards
e. suppliers; distributors


A want refers to a

a. feeling of being deprived of something, but not fully understanding what it may be.
b. a feeling of deprivation of basic necessities such as food, clothing, and shelter.
c. a sense of personal inadequacy based upon observations by others around you.
d. a need that is shaped by a person’s knowledge, culture, or personality. ​–   correct
e. a powerful desire that causes a person to take action


The four Ps of the marketing mix are

a. predict, produce, package, and persuade.
b. priorities, personnel, placement, and profits.
c. predict, produce, price, and promotion.
d. product, price, promotion, and place.- correct
e. product, price, production, and place.


The marketing concept refers to

a. the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization
and its offerings so that buyers will choose them in the marketplace.
b. the belief that an organization should continuously collect information about customers’ needs, share this information across departments, and use it
to create customer value.
c. the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and
society at large.
d. the view that organizations should satisfy the needs of consumers in a way that provides for society’s well-being.
d. the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization’s goals–   correct


A target market refers to

a. former customers who now use competitors’ products.
b. people who could purchase a product regardless of who ultimately uses it.
c. the cluster of benefits that an organization develops to satisfy consumers’ needs.
d. people with both the desire and the ability to buy a specific offering.
e. one or more specific groups of potential consumers toward which an organization directs its marketing program.- correct


The relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action is referred to as


a. a customer base.
b. an ultimate consumer.
c. a target market.
d. a preferred customer.
e. a market segment.–   correct


Relationship marketing refers to

a. the linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits. ​–   correct
b. the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
c. the selection and the assignment of a firm’s personnel for a specific product or product line to a group of current or prospective customers.
d. exclusive legally binding contractual agreements between retailers and customers in order to create enhanced value for each party.
e. the belief that it is easier and less expensive to find new customers than to retain old ones


Which of the following conditions are necessary for marketing to occur?

a changing environment, a method of assessing needs, a way to communicate, and an exchange location
b. two or more parties with unsatisfied needs, a desire and an ability to satisfy them, a way to communicate, and something to exchange–   correct
c. a quality product, a fair price, a clever method of promotion, and a place where a customer can buy the product
d. parties with cash or credit, a product, a reasonable price, and a place to make an exchange
e. an ability to see a trend within an environmental force, a product, and an affordable and actionable advertising campaign


The trade of things of value between buyer and seller so that each is better off after the trade is referred to as

a. barter.
b. exchange.–   correct
c. marketing.
d. countertrade.
e. financial remuneration


Customer relationship management refers to

a. the view that organizations should satisfy the needs of consumers in a way that provides for society’s well-being.
b. the cluster of benefits that an organization promises customers to satisfy their needs.
c. the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization’s goals.
d. the links an organization has to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit.
e. the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so buyers will choose them in the marketplace–   correct


Social responsibility is

a. the view that organizations should satisfy the needs of consumers in a way that provides for society’s well-being.
b. the idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization’s goals.
c. the fundamental, passionate, and enduring principles of an organization that guide its conduct over time.
d. the idea that individuals and organizations are accountable to a larger society.–   correct
e. the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth.


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