Marketing Final

Front 1

An approach for assessing the strengths and/or weaknesses of potential competitors’ marketing strategies is called what?

Back 1

Competitor analysis

Front 2

2. On the Continuum of Environmental Sensitivity, which of the following products is a sensitive item to a foreign country?

Back 2

Diet Pepsi

Front 3

3. Which of the following is NOT the purpose of a mission statement

Back 3

a. To use as a substitute for specific objectives

Front 4

4. Which law keeps companies from using unfair methods of competition?

Back 4

d. Federal Trade Commission Act of 1914

Front 5

5. Which of the following companies failed due to rapid advances in technology?

Back 5

b. Kodak

Front 6

A good mission statement should be or contain all of following except:

Back 6

a) should embrace everything that a company intends to achieve

Front 7

To get control in its "own" target market, a number of different firms offer marketing mixes that at least some customers see as different, is known as what?

Back 7

c) Monopolistic competition

Front 8

Which one of the following lays out a plan to reshape the rules of trade among the United States, Canada, and Mexico?

Back 8

a) North American Free Trade Agreement (NAFTA)

Front 9

Which of the following is not a characteristic of generation Y?

Back 9

d) Born from 1965 to 1977

Front 10

When a firm has many scenarios to evaluate, comparisons are best made with:

Back 10

c) graphical approach

Front 11

1. What helps the marketing manager identify potential opportunities for differentiating the marketing mix?

Back 11

d. Competitor matrix

Front 12

2. Generation Y refers to those born from 1978, to 1994. This is also called….

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d. Millennials

Front 13

3. Which of the following is a part of the external market environment?

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e. Economic environment

Front 14

4. Which of the following is a widely used measure for national Income?

Back 14

a. Gross domestic product

Front 15

1. What’s the idea that it is important to meet present needs without compromising the ability of future generations to meet their own needs?

Back 15

a. Sustainability

Front 16

What is a group of people who have approximately equal social position as viewed by others in the society

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. Social class

Front 17

2. Which one of the following is not a considered a concern of social needs?

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E.) devotion

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3. Physiological needs are concerned with?

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c) biological needs

Front 19

4. Consumer decision process is influence by

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E.) Dissonance about the product

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5. The stages a buyer passed through in making choices about which product and service to buy

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B. Purchase Decision

Front 21

1. The economic buyer theory says that consumers decide what to buy based on what determining factor?

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C. Economic Needs

Front 22

2. What need is concerned with accomplishment, fun, freedom, and relaxation?

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C. Personal needs

Front 23

3. What psychological influence do marketers have the most issues dealing with?

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E. Attitude

Front 24

4. Buyers often have second thoughts after a purchase, a feeling of uncertainty about whether the correct decision was made, what is the resulting tension called?

Back 24

A. Dissonance

Front 25

5. Which of the following steps is not part of the adoption process?

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B. Response

Front 26

What is the confidence a person has in the promises or actions of another person, brand, or company.

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b. Trust

Front 27

2. What is usually not a good measure of social class?

Back 27

c. Income

Front 28

3. Part of the marketing job is to inform and persuade consumers. An ethical issue arises if consumers have an inaccurate ____________.

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d. Belief

Front 29

4. Awareness, interest, evaluation, trial, decision, and confirmation are all part of the

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a. Adoption Process

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5. “Luxuries” are purchased from a family’s discretionary income, that is, what is left of income after paying taxes and necessities. A low income family would qualify which of the following as a “luxury”?

Back 30

a. High Speed Internet

Front 31

1) Per the Model of Influences on Consumer Behavior, which of the following is a Psychological Variable?

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c. Motivation √

Front 32

2) A change in a person’s thought process caused by prior experience is?

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d. Learning √

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3) Which is not included in Extensive Problem Solving in the Problem-Solving Continuum used by the consumer?

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e. Low Risk √

Front 34

4) Which of the following is a Psychological Need which motivates a person to some action?

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b. Nurturing √

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5) When accepting or rejecting a new idea, which is not a step in the Adoption Process?

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b. Perception √

Front 36

1. Which of the following is a request to buy something?

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C. requisition

Front 37

What is NOT true about a buyer?

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D. they do not value recommendations from others who have already dealt with similar needs

Front 38

3. Which of the following is NOT part of the key dimensions that help characterize buyer-seller relationships?

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E. simple transactions

Front 39

4. Which of the following is TRUE about negotiated contract buying?

Back 39

A. agreeing to contracts that allow for changes in the purchase arrangements.

Front 40

5. A gatekeeper is an assistant to which person?

Back 40

C. Purchasing Manager

Front 41

1. A person who needs to purchase something usually completes a __________, a request to buy something.

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b) Requisition

Front 42

2. Buyers who buy for resale or to produce other goods and services?

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a.) Business and Organizational Customers

Front 43

3. Multiple buying influence is when various groups of people play a part in making a purchase decision in buying centers. Which of the following is NOT an influence group?

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e.) Manufacturers

Front 44

What is when an organization choses to contract with an outside firm to produce goods or services rather than produce them internally.

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b.) Outsourcing

Front 45

5. Which of the following is NOT one of the five key dimensions that help characterize most buyer-seller relationships?

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e.) Customer dictation

Front 46

1) About how many percent of the U.S. gross domestic product is spent by various government units?

Back 46

30

Front 47

2) Multiple buying influence includes all of the following except for:

Back 47

E. Suppliers

Front 48

What occurs when an organization has a new need and wants a great deal of information

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C. New-task buying

Front 49

4) In what year was the Foreign Corrupt Practice Act passed by the U.S. Congress that prohibits U.S. firms from paying bribes to foreign officials?

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B. 1977

Front 50

5. The service side of the _______ economy is large and has been growing fast.

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B. United States

Front 51

1. A decision-making approach that focuses on being objective and orderly in testing ideas before accepting them is the:

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A. scientific method.

Front 52

2. The percent of people contacted who complete a survey questionnaire is the:

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E. response rate.

Front 53

A _____ is an informal study of what information is already available in the problem area.

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C. Situation analysis

Front 54

What is often the most difficult step in the marketing research process?

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A. Defining the problem

Front 55

5. Which of the following from the secondary data sources is not an outside company?

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c. Reports

Front 56

1. What do researchers use to compare the responses of two (or more) groups that are similar except on characteristic being test?

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h. Experimental Method

Front 57

2. An open ended line of questioning is ________________.

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a. Qualitative research

Front 58

3. The marketing research process if a five-step application. Which of the following is not one of the steps?

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s. Develop the hypotheses

Front 59

4. Defining the problem, analyzing the situation, obtaining data, interpreting data and developing and implementing a solution are all part of;

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u. Solving Marketing problems

Front 60

5. Big Data refers to _______________________ .

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dd. Data sets to large and complex to work with typical database management tools.

Front 61

1) Marketing Research is/are…?

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b. Procedures that develop and analyze new information about markets √

Front 62

2) What are the 4 steps included in the Marketing Research Process?

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a. Interpreting the data
b. Analyzing the situation
c. Define the problem
d. Solving the problem

Front 63

3) Which of the following is an Outside Company Secondary Data Source?

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c. Governments √

Front 64

4) Which of the following is not associated with Marketing Information Systems?

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a. Scientific method √

Front 65

5) According to the Elements of a Complete Marketing Information System, which of the following is considered a Result?

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d. Outcomes √

Front 66

1. Which of the following is used to store databases so that they are available when needed?

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d. Data warehouse

Front 67

2. Information that has already been collected is the definition of which of the following:

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a. Secondary data

Front 68

3. _______ is a routine repurchase that may have been made many times before.

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a. Straight rebuy

Front 69

What is The range on either side of an estimate that is likely to contain the true value for the whole population?

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c. Confidence intervals

Front 70

What concerns the extent to which data measure what they are intended to measure.

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c. Validity

Front 71

1. In new-product development process, what step involves evaluating the new ideas with the type of S.W.O.T analysis?

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B. screening

Front 72

2.Which of the following is not part of the product life cycle?

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B. Idea evaluation

Front 73

3.During development companies sometimes use a ______ to test a potential new offering?

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C) prototype

Front 74

4. The legal obligation of selller to pay damages to indivuduals who are injured by defective or unsafe products is known as

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B.) product liability

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5) ROI (Return of Investment) refers to the returns of profits to the __________?

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C) seller

Front 76

1. What is the first step in new-product development?

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a. Idea generation

Front 77

2. The maturity market occurs when:

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c. The industry sales level off and competition gets tougher.

Front 78

3. What is the last stage of the product life cycle?

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c. Sales decline

Front 79

4. According to the Federal Trade Commission, firms can call their product new for how long?

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b. Six months

Front 80

5. An early sample built to test a concept is a/an:

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a. Prototype

Front 81

6. Market maturity occurs when:

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c. Industry sales level off and competition gets tougher

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7. Which of the following is NOT a step of the new-product development process?

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e. discontinuous innovation

Front 83

8. Firms often use full-scale ___________ to get customer reactions under real market conditions or to test variation in marketing mix.

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a. market testing

Front 84

9. Which of the following means giving employees the authority to correct a problem without first checking with management?

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d. empowerment

Front 85

10. Which of the following limits a firm to calling a product “new” for only a limited time of six months?

Back 85

b. Federal Trade Commission (FTC)

Front 86

1. Which of the following steps is NOT involved with New-product development?

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d. Strategy Planning ☑

Front 87

2. Which of the following terms pertain to dividing larger quantities into smaller quantities as products get closer to the final market?

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d. Bulk-breaking ☑

Front 88

3. What is the most important reason why industry sales level off in the market maturity stage of the product life cycle?

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d. pool of potential users is exhausted. ☑

Front 89

4. A pioneer in a product market may have the opportunity to establish industry norms, which may include:

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a. selection of distribution channels. ☑

Front 90

5. Firms that adopt total quality management always look for ways to advance implementation with:

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c. Continuous Improvement ☑

Front 91

1. _______means putting together a variety of products to give a target market what it wants.

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d. Assorting

Front 92

2. _______________occurs when a producer uses several competing channels to reach the same target market, perhaps using several intermediaries in addition to selling directly.

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a. Multichannel Distribution

Front 93

3. ____________involves collecting products from many small producers.

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a. Accumulating

Front 94

4. Why would a company avoid direct distribution centers and use of independent distributors?

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b. They are limited financially

Front 95

5. The traditional channel system is typically accompanied by what level of cooperation?

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d. Little or None

Front 96

1) Direct communication between a seller and an individual customer using a promotion method other than face-to-face personal selling is ______.

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D. Direct Marketing

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2) _______ means the difference between the lines in a typical producer makes and the assortment final consumers or users want?

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B. Discrepancy of assortment

Front 98

3) Which one of these is putting together a variety of products to give to a target market what it wants?

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A. Assorting

Front 99

4) Which of these is a channel systems in which the whole channel focuses on the same target market at the end of the channel?

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E. Vertical Marketing systems

Front 100

5) What is a selling system that is selling through only those intermediaries who will give the product special attention?

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C. Selective Distribution

Front 101

1. _______ is selling a product through all responsible and suitable wholesalers or
retailers who will stock or sell the product.

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C. Intensive distribution

Front 102

2. Selling some of what the firm produces to foreign markets is called:

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A. Exporting

Front 103

3. ________ is the process of separating products into grades and qualities desired by different target markets.

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B. Sorting

Front 104

4. What involves dividing larger quantities into smaller quantities, as products get closer to the final market?

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A. Bulk-breaking

Front 105

5. In which channel system do the channel members agree by contract to cooperate with each other?

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E. Contractual channel systems

Front 106

1. ________ is the receiver translating the message.

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a) Decoding

Front 107

2. Which of the following are the basic promotion objectives?

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B. Informing, persuading, reminding

Front 108

Which group has the most contact with salespeople?

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B) Early Adopters

Front 109

, which is least creative sales position

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A) Order taker

Front 110

5. What is the role of a chief revenue, or chief customer, officer

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C) To oversee both marketing and sales

Front 111

1. What does persuading objective demonstrates:

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C. Tries to prove one brand is better than others

Front 112

2. An immediate feed back from the customer is:

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A. Direct Response Promotion

Front 113

3. Which group avoids risk and takes time in considering new idea:

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B. Early majority group

Front 114

4. Demand for a company’s own brand:

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D. Selective demand

Front 115

5. Sensible approach to budgeting promotion expenditures is:

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E. Task method

Front 116

1. All of the following describe the adoption curve except:

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d. It shows the number of individuals who are unsatisfied with a certain product

Front 117

2. Basic promotion objectives and adoption process fit neatly with what oriented model?

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b. Aida model

Front 118

3. ________________ is an unpaid form of non-personal presentation of ideas, goods or services.

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a. Publicity

Front 119

4. Laggards or non-adopters, who prefer to do things the way they’ve been done in the past, get their main source of information from who?

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d. Other laggards

Front 120

5. A customer ______________ initiates communication with a decision to search for information in a particular message channel.

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b. Receiver

Front 121

1. Which promotion method is normally very expensive but offers immediate feedback to a sales person?

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b) personal selling

Front 122

2. Which of the following sales promotion activities is aimed at the final consumer?

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c) coupons

Front 123

3. The AIDA Model consists of four promotion jobs. All of the following are elements of the AIDA Model except?

Back 123

d) informing

Front 124

4. In the traditional communication process, which element is described as the carrier of the message?

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d) message channel

Front 125

5. When budgeting for promotion expenditures, which of the following is the most sensible approach?

Back 125

a) task method

Front 126

1. A job description is all of these EXCEPT:

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d. sales training <

Front 127

2. All of the following are true about personal selling EXCEPT:

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a. It does not require strategic decisions <

Front 128

3. A good salesperson will possess the following EXCEPT:

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e. rewards loyal customers. <

Front 129

4. A company’s sales training program should cover all of the following areas EXCEPT:

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e. Team selling <

Front 130

5. Technical Specialists are _________________________.

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c. supporting salespeople who provide technical assistance to order-oriented salespeople. <

Front 131

1. Who helps the order-oriented salespeople, but they don’t try to get orders themselves?

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b. Supporting salespeople

Front 132

2. Which answer is not a part of the personal selling tasks?

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d. Prospecting

Front 133

3. Using the telephone to “call” on customers or prospects is called?

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a. Telemarketing

Front 134

4. A salesperson’s effort to make a sale or address a customer’s problem is a/an?

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a. Sales presentation

Front 135

5. Sales territory is?

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e. A geographic area that is the responsibility of one salesperson or several working together.

Front 136

1.Technical specialist are experts who _______

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A) know product application

Front 137

2. Which of the following is NOT basic task/service of a personal selling group?

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D) Commission

Front 138

3. Who is often a representative of the whole company-responsible for explaining its total effort to customer rather than just pushing products?

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A. Salesperson

Front 139

4. What is a written statement of what a salesperson is expected to do?

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D. Job Description

Front 140

5. Which of the following is NOT an example of sales promotion?

Back 140

C. A new kind of ad

Front 141

1. The following is a discount offered to encourage buyers to buy earlier than present demand requires:

Back 141

c. Seasonal

Front 142

2. Price Fixing is illegal in the United States because it's considered a "conspiracy" under what Act(s)?

Back 142

b. Sherman and Federal Trade Commission Act

Front 143

3. In making price decisions and using value pricing, it is important to clearly define the ________ when making price comparisons?

Back 143

Relevant target market and competitors

Front 144

4. A __________________________ means offering the same product and quantities to different customers at different prices.

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c. Flexible price policy

Front 145

5. _______________ are given to an intermediary to get shelf space for a product.

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b. Stocking allowances

Front 146

1) Offering the same product and quantities to different customers at different prices is a _______________.

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B) Flexible Price Policy p.426

Front 147

2) Discounts offered to encourage buyers to buy earlier than present demand requires are _________________.

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A) Seasonal Discounts p.432

Front 148

3) Which of the following pricing decisions is not limited by government legislation?

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C) Value Pricing p.438

Front 149

4) A price reduction given for used products when similar new products are bought.

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D) Trade-In Allowance p.435

Front 150

5) Which of the following terms is not used in Geographic Pricing Policies?

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E) Everyday Low Pricing p.434

Front 151

1. A target return objective _____.

Back 151

C. Sets a specific level of profit as an objective often stated as a percentage of sales or of capital
investment

Front 152

2. Which term would be used to describe the policy that sells the whole market at one low price?

Back 152

E. Penetration Price Policy

Front 153

3. _____ are discounts offered to encourage buyers to buy earlier than present demand requires

Back 153

B. Seasonal discounts

Front 154

4. _____ means making an average freight charge to all buyers within specific geographic areas.

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C. Zone pricing

Front 155

5. _________ is pricing a product sold in a foreign market below the cost of producing it or at a price lower than in its domestic market.

Back 155

B) Dumping