Marketing Midterm

Front 1

Mary, the manager of a children's boutique, collects data from her monthly records of sales, costs, and cash flow. In this case, Susan is making use of ________ databases

Back 1

internal

Front 2

Which of the following criteria provides a measure of market attractiveness in the Boston Consulting Group (BCG) approach?

Back 2

Market growth rate

Front 3

According to the five-step model of the marketing process, the first step in marketing is ________.

Back 3

understanding the marketplace and customer needs and wants

Front 4

Pacific Inc. would like to set the best price for a new product. The firm conducts an experimental study by selling the new product at two different prices in two different locations keeping other factors constant to see if a lower price results in better sales. This is most likely an example of ________ research

Back 4

Casual

Front 5

Marketing intermediaries supply resources needed by a company to produce its goods and services.

Back 5

False

Front 6

Jack now has the buying power to purchase the computer that he wanted to buy six months ago. Jack's want has most likely become a ________.

Back 6

Demand

Front 7

In a SWOT analysis, ________ refer to unfavorable external factors or trends that may present challenges to performance.

Back 7

Threats

Front 8

The most common research instrument, whether administered in person, by phone, by e-mail, or online, is the ________.

Back 8

Questionnaire

Front 9

Changes in variables, such as income, cost of living, interest rates, and savings and borrowing patterns most likely reflect changes in the ________ environment of a company.

Back 9

Economic

Front 10

Market offerings are limited to physical products

Back 10

False

Front 11

A ________ is purposeful, specifying what an organization wants to accomplish in the larger environment

Back 11

Mission statement

Front 12

Which of the following is true of a good marketing information system?

Back 12

It balances the information that a firm would like to have against what they really need.

Front 13

Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This most likely reflects the ________.

Back 13

Production concept

Front 14

A strategy for company growth that involves increasing sales to current market segments without changing the product is known as ________.

Back 14

Market penetration

Front 15

Firms that develop strategies to change the environment are considered proactive.

Back 15

True

Front 16

________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

Back 16

Marketing research

Front 17

A consumer who is potentially profitable but not loyal to a firm's offerings is referred to as a ________.

Back 17

Butterfly

Front 18

Both product development strategies and diversification strategies involve ________.

Back 18

developing a new product

Front 19

Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization.

Back 19

Macroenvironment

Front 20

Once the research problems and objectives have been defined, researchers must determine the exact information needed.

Back 20

True

Front 21

________ are the form human needs take as they are shaped by culture and individual personality

Back 21

Wants

Front 22

A consumer advocacy group challenges a firm's decision to build a new warehouse in a small community. The advocacy group is an example of a ________ public.

Back 22

Citizen-action

Front 23

________ outlines sources of existing data as well as specific research approaches, sampling plans, and measurement instruments.

Back 23

The research plan

Front 24

________ refers to reducing the business portfolio by abandoning products that no longer fit the company's overall strategy.

Back 24

Downsizing

Front 25

When sellers pay less attention to the specific products they offer and more attention to the benefits and experiences produced by these products, they suffer from marketing myopia

Back 25

False

Front 26

What happens in the maturity stage of the product life cycle?

Back 26

A slowdown occurs in sales growth

Front 27

A local retail store, claims to offer better products at lower prices than other retail stores. In this case, the firm's positioning reflects a ________ value proposition.

Back 27

More-for-less

Front 28

The business buying process tends to be shorter and less formal than the consumer buying process

Back 28

False

Front 29

Major appliances, furniture, and clothing are typical examples of ________ products.

Back 29

Shopping

Front 30

Coldiz, a line of winter accessories by a leading fashion label, quickly fell in and out of favor with customers. Coldiz represents an example of a ________.

Back 30

Fad

Front 31

Early mainstream adopters are opinion leaders in their communities and adopt new ideas early but carefully.

Back 31

False

Front 32

The practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as ________.

Back 32

Micromarketing

Front 33

Unilever's decision to add a whitening toothpaste to its current line of toothpastes is an example of product line ________.

Back 33

Filling

Front 34

If a product passes both the concept test and the product test, the next step is most likely to be ________.

Back 34

Test marketing

Front 35

Which of the following is the first stage of the buyer decision process?

Back 35

Need recognition

Front 36

Susan's, a furniture retailer, sells low-end furniture and accent pieces that are targeted toward lower-income consumer groups. Susan's most likely segments the consumer market based on ________ variables.

Back 36

Demographic

Front 37

A manufacturer of soy milk, attracts new customers by adding cinnamon, pumpkin, and vanilla flavors to its traditional product. This strategy is called ________.

Back 37

Line extension

Front 38

A company's external sources of new product ideas include its ________.

Back 38

Suppliers

Front 39

Service variability means that the quality of services does not depend on who provides them

Back 39

False

Front 40

Although not recommended, some marketers decide to ignore market segmentation and target the whole market with one offer. This is known as ________ marketing.

Back 40

Undifferentiated

Front 41

A business buyer is considering a change in product specifications, terms, and possibly suppliers. This buying situation is referred to as a(n) ________.

Back 41

modified rebuy

Front 42

American Airline's Flight 167 takes off at 50 percent capacity. The unoccupied seats cannot be stored for later sale or use. This is an example of which service characteristic?

Back 42

Perishability

Front 43

In which of the following steps of the new product development process an R-W-W framework would be used?

Back 43

Idea screening

Front 44

In which stage of the product life cycle will promotional expenditures be significantly high in an attempt to create consumer awareness of a product and its features?

Back 44

Introduction

Front 45

Consumer products that the buyer either does not know about or knows about but does not normally consider buying are referred to as ________

Back 45

Unsought

Front 46

Social class is not determined by a single factor, such as income, but is measured as a combination of occupation, income, education, wealth, and other variables.

Back 46

True

Front 47

Which statement is true about local marketing?

Back 47

It increases manufacturing costs.

Front 48

________ segmentation factors divide buyers into different groups based on social class, lifestyle, or personality characteristics.

Back 48

Psychographic

Front 49

During the decline stage of the product life cycle, product sales may plunge to zero, or they may drop to a low level where they continue for many years

Back 49

True

Front 50

Business consultation services such as legal or advertising are classified under which category of industrial products?

Back 50

supplies and services

Front 51

every time a search is made using keywords related to construction search engines display text based advertisements and Link's to eagles builders a construction firm the marketing tool used by eagles builders is best referred to as a

Back 51

Search related advertisement

Front 52

Louisa a US base watch manufacturer sells its products and France China Russia and India to manage sale Louisa appointed number of sales representative location sales representatives report to area managers and area managers coordinate sales in their respective areas before reporting to regional managers at least she has most likely adopted what kind of sales force structure

Back 52

Territorial

Front 53

quick serve a family-owned business offers a free surf lesson with the purchase of any surfboard over $200 during the month of June this is an example of which promotion mix element

Back 53

Sales promotion

Front 54

Coca-Cola on bottle is an online forum where Coke fans and company insiders can look at what's beyond the bottle sharing post on everything from new products and sustainability initiatives to fun and inspiring fan stories this is an example of a

Back 54

Blog

Front 55

Which of the following is most likely true about a Salesforce in the field

Back 55

They build relationships with customers through face-to-face collaboration

Front 56

When a company issues a press release to announce a sizable donation to a national charity they are using _____ to generate Goodwill and maintain a positive corporate image

Back 56

Public relations

Front 57

Which of the following is a disadvantage of using social media for marketing

Back 57

They are largely user-controlled

Front 58

Commissions and bonuses are variable amounts of compensation

Back 58

True

Front 59

_______ Advertising primarily maintains brand relationships and is important for mature products

Back 59

Reminder

Front 60

Which of the following has been limited in recent years by the implementation of the national do not call registry

Back 60

Unsolicited outbound telemarketing by businesses

Front 61

sales people need to know how to blank leads that is identifying good leads and screening out poor ones at the beginning of the selling process

Back 61

Qualify

Front 62

In the competitive parity method of setting an advertising budget the budget is set based on

Back 62

The amount spent by similar companies in the same industry

Front 63

an advantage of direct mail marketing over digital forms is that it provides something tangible for people to hold and keep and it can be used to send samples

Back 63

True

Front 64

in which of the following steps of the selling process does a salesperson seek out clarify and overcome any customer disapproval to buying

Back 64

Handling objections

Front 65

In a marketing communications mix _______ refers to any short-term incentive that encourages the purchase or sale of a product or service

Back 65

Sales promotion

Front 66

real-time merchandising products and features can be added or removed as needed and prices can be adjusted instantly to match demand is an advantage of

Back 66

Mobile apps

Front 67

Contest premiums and displays are tools solely used for trade promotion

Back 67

True

Front 68

Which of the following is the first step in developing an advertising program

Back 68

Setting advertising objectives

Front 69

provide on-the-go product information price comparisons advice and reviews from other consumers and access to instant digital deals and digital coupon

Back 69

Mobile marketing

Front 70

Conventions trade shows and sales contests are types of

Back 70

Business promotions

Front 71

Which of the following is most likely a consequence of permission-based email marketing

Back 71

Higher return rates