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50 Cards in this Set
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1)The ________ concept holds that achieving organizational goals depends onknowing the needs and wants of target markets and delivering the desiredsatisfactions better than competitors do. A)marketingB)productC)productionD)sellingE)societal marketing. |
A)marketing |
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2)Which of the following concepts is based on a customer-centered philosophy? A)the product conceptB)the marketing conceptC)the production conceptD)the selling conceptE)the distribution concept |
B)the marketing concept |
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3)Customer-driven marketing is most effective when ________. A)a clear need exists among customers, but the need is difficult to identify B)customers do not know what they want but are easily persuaded C)customers seek new products and technological innovations D)clear needs exist and customers know what their needs are E)customers have wants but cannot afford them |
D) clear needs exist and customers know what their needs are |
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4)Directing consumers toward products and services that meet their present andfuture needs is referred to as ________ marketing. A)customer-driven B)customer-driving C)societal D)production E) product |
B)customer-driving |
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5)When customers don't know what they want or don't even know what's possible,the most effective strategy is ________ marketing. A)customer-driven B)customer-driving C)societal D)functional E)product |
B)customer-drivingmo[>7 |
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6)Cylog, a leading provider of personal computer systems, began manufacturingtablet devices after predicting a future consumer need for portability. Whichof the following was most likely implemented by Cylog? A)the selling concept B)customer-driving marketing C)the product concept D)sustainable marketing E)the production concept |
B) customer-driving marketing |
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7)Futuristic Designs Inc., a furniture retail chain, understands and anticipatescustomer needs even better than customers themselves do and creates productsand services to meet their existing and future needs. Which of the followinghas Futuristic Designs followed in this case? A)the product concept B)customer-driving marketing C)the societal marketing concept D)customer-driven marketing E)the production concept |
B) customer-driving marketing |
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8)The societal marketing concept holds that ________. A)consumers will not buy enough of a firm's products unless the firm undertakes alarge-scale selling and promotion effort B)a company's marketing decisions should focus on creating economic value in away that also creates value for the surrounding environment C)the society will only favor products that are available and highly affordable D)achieving organizational goals depends on knowing the needs and wants of targetmarkets and delivering the desired satisfactions better than competitors do E)consumers will favor products that offer the most in quality, performance, andinnovative features |
B) a company's marketing decisions should focus on creating economic value in a way that also creates value for the surrounding environment |
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9)Which of the following concepts calls for sustainable marketing? A)the societal marketing concept B)the marketing concept C)the selling concept D)the production concept E)the product concept |
A) the societal marketing concept |
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10)Some fast food restaurants offer tasty and convenient food at affordableprices, but in doing so they contribute to the soaring obesity rates andenvironmental problems. In this case, these fast-food restaurants haveoverlooked the ________ concept. A)marketing B)product C)production D)societal marketing E)selling |
D) societal marketing |
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11)________ marketing is defined as socially and environmentally responsiblemarketing that meets the present needs of consumers and businesses while alsopreserving or enhancing the ability of future generations to meet their needs. A)Customer-driven B)Mass C)Sustainable D)Customer-driving E)Ambush |
C) Sustainable |
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12)In the BCG matrix, ________ are low-share businesses and products in low-growthmarkets. A)dogs B)cash cows C)black holes D)stars E)question marks |
A) dogs |
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13)Which of the following statements is true in the context of the BCGgrowth-share matrix? A)Stars often need heavy investment to finance their rapid growth in a market. B)The positions of SBUs in the growth-share matrix rarely change over time. C)The income from one SBU cannot be used to support other business units. D)Dogs promise to be large sources of cash.E)Cash cows typically turn into stars. |
A) Stars often need heavy investment to finance their rapid growth in a market. |
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14)When using a harvest strategy for a particular strategic business unit, acompany ________. A)invests just enough in the strategic business unit to keep its market share atthe current level B)invests more in the business unit to build its market share C)sells off the strategic business unit and invests its resources elsewhere D)tries to maximize its short-term cash flow regardless of long-term concerns E)gradually increases investment in the strategic business unit over time tomaximize profits |
D) tries to maximize its short-term cash flow regardless of long-term concerns |
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15)When a company chooses to divest a particular strategic business unit, it________. A)increases the advertising budget for that strategic business unit B)invests more in the strategic business unit to build its market share C)sells off or phases out the strategic business unit D)invests just enough in the strategic business unit to keep its market share atthe current level E)gradually increases investment in the strategic business unit over time tomaximize profits |
C) sells off or phases out the strategic business unit |
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16)Which of the following companies is using a divesting strategy? A)Juggernaut Bikes acquires new businesses in order to increase its market share. B)To achieve a higher market share, LBD Inc. increases investments in advertisingand promotion. C)When sales of its clothing division decline, Blackstone sells the division to acompetitor.D)Getix Computers increases the price of its products in order to maximizeshort-term profits. E)Harlow's market share remains steady over two years, and the firm decides tomaintain its share at the current level. |
C) When sales of its clothing division decline, Blackstone sells the division to a competitor. |
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17)A strategy for company growth that involves increasing sales to current marketsegments without changing the product is known as ________. A)market development B)market differentiation C)market penetration D)product development E)diversification |
C) market penetration |
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18)EcoBean, a chain of cafes, has introduced a Special Shopper Card that allowscustomers to pay in advance for coffee and snacks. This effort by EcoBeanmanagement is most likely an example of ________. A)market development B)product development C)diversification D)market penetration E) product adaptation |
D) market penetration |
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19)Acme Inc., a manufacturer of construction and mining equipment, is based inAustralia. Acme modifies the production processes of its widgets and gadgets tosell its current products in Eastern Europe. This is most likely an example ofa ________ strategy. A)market penetration B)market development C)product diversification D)business harvesting E)product development |
B) market development |
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20)Which of the following is an example of a local public? A)a community organization that addresses welfare issues in its neighborhood B)a supplier responsible for sourcing most of the raw materials used inproduction C)a company director who is working to improve the organization's public image D)a bank that helps a company acquire loans E) a federal regulatory agency that monitorsbusiness practices |
A) a community organization that addresses welfare issues in its neighborhood |
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21)Which of the following are examples of internal publics of a company? A)newspapers, magazines, television stations, blogs, and other Internet media )governmental departments and agencies that regulate businesses C)neighborhood residents and community organizations D)the managers, board of directors, and workers of the company E) the general public that is directly affectedby the company |
D) the managers, board of directors, and workers of the company |
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22)According to the text, ________ are the most important actors in a company'smicroenvironment. A)stockholders B)employees C)suppliers D)resellers E)customers |
E)customers |
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23)________ markets consist of individuals and households that buy goods andservices for personal use. A)Consumer B)Business C)Government D)Wholesaler E)Retailer |
A) Consumer |
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24)Which of the following is most likely categorized as a business market? A)government agencies that buy goods and services to produce public services B)individuals who buy goods and services for personal consumption C)firms that buy goods and services for further processing D)firms that buy goods and services to resell for profit E)retail outlets that buy goods and services to sell at discounted prices |
C) firms that buy goods and services for further processing |
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25)Reseller markets consist of ________. A)government agencies that buy goods and services to produce public services B)individuals who buy goods and services for personal consumption C)firms that buy goods and services to assemble overseas D)firms that buy goods and services to sell at a profit E)firms that buy goods and services for further processing |
D) firms that buy goods and services to sell at a profit |
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26)Dextora Technologies manufactures microprocessors and caters exclusively toprivate manufacturers that produce high-end computers. Which type of marketdoes Dextora directly target? A)retail market B)government market C)consumer market D)business market E)reseller market |
D) business market |
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27)Diane Chambers, the marketing manager of FarmFresh, collects data from hermonthly records of sales, costs, and cash flow. In this case, Diane is makinguse of ________ databases.A)external B)secondary C)historical D)internal E)dialog |
D) internal |
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28)Which of the following sources constitutes the internal database of a company? A)commercial online databases B)conversations on social media C)the company's sales records D) reports sold by market research firms E)the Web |
C) the company's sales records |
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29)Which of the following is most likely the cheapest and quickest means tocollect data for marketing research? A)utilizing external agencies for research B)seeking marketing intelligence inputs from partnering firms C)seeking data regarding strategies adopted by competitors D)utilizing internal databases to gather sales data E)hiring a reputed firm to conduct a market analysisn |
D) utilizing internal databases to gather sales data |
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30)Hammond Corp. operates in the highly aggressive electronics market. The firmaims to obtain early warnings of opportunities and threats caused by theactions of other firms that are doing well in the industry. Which of thefollowing sources would best serve Hammond's purpose? A)sales data from exclusive Hammond retailers B)archival data on company performance C)competitive marketing intelligence D)research on demographics of its existing customers E)internal survey on employee performance |
C) competitive marketing intelligence |
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31)Which of the following statements regarding marketing intelligence is true? A)Marketing intelligence typically involves sensitive and confidentialinformation kept out of the public domain. B)The advantage of using competitive intelligence is negligible as it is basedonly on internal sources of data. C)All marketing intelligence inputs are available at no cost to all potentialusers. D)Marketing intelligence is the systematic collection and analysis of publiclyavailable information. E)Marketing intelligence efforts are more focused on gaining insights into afirm's consumers rather than its competitors |
D) Marketing intelligence is the systematic collection and analysis of publicly available information. |
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32)Haley Computers Inc. has appointed a few employees to sift through customerconversations on online forums and social networking sites regarding productspurchased from Haley. These employees are likely to be working as ________. A)information technology officers B)online Web designers C)quality control specialists D)corporate bloggers E)listening officers |
E) listening officers |
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33)Which of the following is true of competitive marketing intelligence? A)It can predict a firm's future but not the pattern of forces in the market. B)It cannot be collected from internal sources of a firm such as employees andsales force. C)It requires inside information from a competitors' internal database. D)It can be obtained from information that is available in the public domain. E) It can be obtained from online databases onlythrough subscription and a fee |
D) It can be obtained from information that is available in the public domain. |
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34) ________ refersto the practice of including ethnic themes within a company's mainstream marketing. A)Cross-cultural marketing B)Buzz marketing C)Viral marketing D)Guerilla marketing E) Cause marketingZp |
A) Cross-cultural marketing |
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35)Which of the following is most likely a true statement about social class? A)Members of a social class vary drastically in their values, interests, andbehaviors. B)In the United States, the lines between social classes are fixed and rigid. C)Social classes show distinct product preferences in areas such as clothing. D)Wealth is a more important variable than education in measuring social class. E)Consumers of the same age belong to the same social class |
C) Social classes show distinct product preferences in areas such as clothing. |
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36)Which of the following is a social factor that influences consumer buyingbehavior? A)family B)life-cycle stage C)economic situation D)personality E)occupation |
A) family |
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37)A shoe company's ads feature the members of a popular country music band.Product sales increase significantly among the band's fans. From the fans'viewpoint, the band is a(n) ________. A)membership group B)reference group C)laggard D)subculture E)late-majority adopter |
B) reference group |
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38)________ are people within a reference group who, because of special skills,knowledge, personality, or other characteristics, exert social influence onothers. B)Late mainstream adopters C)Strangers D)Barnacles E)Lagging adopters |
A) Opinion leaders |
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39)Which of the following types of marketing involves creating opinion leaders toserve as brand ambassadors to spread the word about a company's products? A)social marketing B)traditional marketing C)buzz marketing D)direct marketing E)values marketing |
C) buzz marketing |
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40)Opinion leaders are also known as ________.A)lagging adopters B)leading adopters C)early mainstream adopters D)late mainstream adopters E)barnacles |
B) leading adopters |
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41)When marketers want to promote their products and services throughword-of-mouth marketing programs, they typically begin by ________. A)pushing one-way commercials at customers B)identifying and targeting late adopters C)developing print and radio advertisements D)generating person-to-person brand conversations E)withdrawing from online social networksage |
D) generating person-to-person brand conversations |
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42)Pediacertain Pet Supplies, a pet-food company, divides the pet market accordingto the pet owners' gender, occupation, income, and family life cycle. In thiscase, which of the following variables has the company used for marketsegmentation? A)geographic B)psychographic C)benefit D)demographic E)occasion |
D) demographic |
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43)Demographic variables are the most popular bases for segmenting customer groupsbecause they ________. A)create smaller segments B)create more easily accessible segments C)do not involve stereotypes D)are easier to measure E) involve fewer attributes to consider |
D) are easier to measure |
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44)Zindle, an American smartphone-manufacturing firm, targets children below theage of ten by providing free games and applications. The firm's marketingapproach is reflective of a(n) ________ segmentation. A)age and life-cycle B)geographic C)occasion D)gender E) income |
A) age and life-cycle |
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45)________ factors are the most popular bases for segmenting customer groups. A)Geographic B)Demographic C)Behavioral D)Lifestyle E)Personality |
B) Demographic |
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46)ProFem Inc. caters its line of sports apparel exclusively to women. What typeof segmentation does the company use? A)age and life-cycle B)gender C)behavior D)psychographic E)geographic |
B) gender |
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47)Which type of market segmentation is generally used by marketers who sellproducts for the affluent segments of a population? A)usage rate B)occasion C)income D)benefits sought E)gender |
C) income |
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48)At one time, Miller Beer was known as the "champagne of bottledbeer." It was targeted at an elite class of customers. Later, to increasesales, Miller was repositioned to attract members of the working, middle-class.What is this segmentation method called? A)user status B)usage rate C)benefit D)behavioral E)psychographic |
E) psychographic |
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49)Dividing buyers into groups based on their knowledge, attitudes, uses, orresponses to a product is called ________ segmentation. A)behavioral B)psychographic C)age and life-cycle D)user status E)geographic |
A) behavioral |
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50)A refrigerator is an example of a(n) ________ product. A)convenience B)shopping C)unsought D)specialty E)capital |
B) shopping |
