MGT 240/ MGT 240 test (SCORE 100%) - 94313

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Q1. ________ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs. a. The product concept b. Selling myopia c. Marketing management d. Marketing myopia e. Value proposition Q2. The art and science of choosing target markets and building profitable relationships with them is called ________ a. societal marketing b. positioning c. marketing management d. segmentation e. selling Q3. Frequent flyer programs offered by airlines are an example of a ________. a. consumer-generated marketing program b. basic customer relationship c. frequency marketing program d. club marketing program e. structural benefit provided for top customers Q4. The set of marketing tools a firm uses to implement its marketing strategy is called the ________. TQM marketing effort product mix marketing mix promotion mix Q5. Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ philosophy. a. production concept b. societal marketing concept c. selling concept d. product concept e. marketing concept Q6. Your state's department of education has budgeted a significant amount of money for a radio, print, television, and online advertising campaign emphasizing the long-term benefits, both educational and professional, of reading every day. This is an example of a(n) ________ campaign. a. ethical b. consumer-generated c. for-profit d. differentiated e. social marketing Q7. Amazon.com leverages relationships with its 35 million customers by offering them music, videos, gifts, toys, consumer electronics, and office products, among other product items. Based on previous purchase history, the company recommends related CDs, books, or videos that might be of interest. This helps Amazon.com capture a greater ________. a. share of customer b. customer base c. customer ownership d. value proposition e. social network Q8. The final step in the marketing process is ________. a. capturing value from customers b. creating customer loyalty c. designing a customer-driven marketing strategy d. understanding the marketplace e. creating customer lifetime value Q9. When backed by buying power, wants become ________. a. self-esteem needs b. physical needs c. demands d. social needs e. exchanges Q10. Selecting which segments of a population of customers to serve is called ________. a. positioning b. market segmentation c. customization d. choosing a value proposition e. target marketing Q11. ________ are human needs as shaped by individual personality and culture. a. Values b. Deprivations c. Demands d. Exchanges e. Wants Q12. Through ________, many companies today are strengthening their connections to all partners, from providers of raw materials and components to final buyers who purchase final products. a. customized marketing b. supply chain management c. partnership relationship marketing d. deviated marketing e. direct marketing Q13. When the economy tightens, customer loyalty and customer retention become ________ for marketers. a. impossible b. more important c. short-term but not long-term goals d. less important e. long-term but not short-term goals Q14. ________ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. a. Marketing b. Advertising c. Negotiating d. Bartering e. Selling Q15. In addition to attracting new customers and creating transactions, the goal of marketing is to ________ customers and grow the company's business. a. entertain b. retain c. encourage d. educate e. recognize Q16. Which of the following best explains why consumers have greater power and control in today's marketplace? a. More companies are implementing societal marketing and weighing long-run costs and benefits. b. Implementation of the product concept has resulted in continually improving products. c. The production concept and competition have lowered prices. d. Through new communication technologies, customers have more access to information and more methods of sharing their opinions with other customers. e. Customer-driving marketing creates products and services that meet customers' future needs. Q17. Favorite Memories specializes in serving market segments that major competitors overlook and ignore. Which of the following best describes Favorite Memories? a. marketer challenger b. market seeker c. market nicher d. market follower e. full market coverer Q18. The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors is called ________. a. marketing strategy b. market segmentation c. market extension d. market targeting e. positioning Q19. Multinationals like Honda Motor Co. and Wal-Mart stores have designed programs to work closely with their suppliers to help them reduce their costs and improve quality. This illustrates the importance of an efficient ________. a. product mix b. problem-solver c. low-cost operator d. value-delivery network e. business model Q20. Making more sales without changing a firm's products is ________. a. market attractiveness b. market growth c. product development d. market development e. market penetration Q21. Peter Cramer is constantly involved in evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained. Peter's current work is most accurately classified as ________. a. tactical planning b. strategic planning c. marketing planning d. strategic control e. marketing control Q22. Which of the following is a tool for monitoring strategic marketing performance? a. a product differentiation b. a marketing plan c. a customer management organization d. a value delivery network e. a marketing dashboard Q23. The first step in strategic planning is to ________. a. develop the business portfolio b. identify a problem c. plan marketing strategies d. define the company mission e. set objectives and goals Q24. ________ entails reducing the business portfolio by eliminating products that no longer fit the company's overall strategy. a. Downsizing b. Market segmentation c. Market redesign d. BCG e. Product line extension Q25. In the BCG approach, ________ are high-share, high-growth businesses or products. They need heavy investment to finance rapid growth. When their growth slows down, they turn into ________. a. question marks; dogs b. stars; question marks c. stars; cash cows d. cash cows; stars e. dogs; cash cows Q26. To be successful at marketing, companies must effectively turn marketing planning into ________. a. marketing audits b. marketing analysis c. marketing implementation d. marketing control e. marketing budgeting Q27. In the BCG matrix, income from ________ can be used to help finance the company's question marks and stars. a. cash cows b. overseas operations c. SBUs d. dogs e. sales revenue Q28. The ________ organizational system's main advantage is that the company is organized around the needs of specific market segments. a. geographic management b. product management c. functional management d. vertical management e. market management Q29. Which of the following best explains why Gen Xers who are parents tend to put family before career? a. Gen Xers are more skeptical about marketing than members of other generations are. b. Gen Xers are not as educated as members of other generations are c. Gen Xers were the first generation of latchkey kids. d. Gen Xers were minimally affected by the recent economic downturn. e. Gen Xers do not face as many economic pressures as members of other generations do. Q30. Increased marketing of home amenities such as high-end barbeques, hot tubs, and home entertainment centers has most likely been spurred by Americans' changing views of ________. a. social responsibility b. nature c. organizations d. marketing e. others Q31. Marketers can take a(n) ________ by taking aggressive action to affect the publics and forces in their marketing environments. a. environmental perspective b. natural management perspective c. natural perspective d. proactive stance e. relationship building perspective Q32. A society's core beliefs and values have a high degree of ________. a. similarity b. persistence c. conformity d. simplicity e. ethnocentrism Q33. Marketers should be aware of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society. This is the ________ environment. a. economic b. cultural c. socio-legal d. political e. legal-technological Q34. What movement has encouraged marketers to pursue environmentally sustainable strategies? a. the SOHO movement b. the EPA c. green intervention d. the black market e. the green movement Q35. In a tiered market, companies target which of the following? a. consumers at all levels of income distribution b. professionals only c. consumers of modest means only d. the middle class only e. affluent consumers only Q36. The three largest age groups in America are the baby boomers, Generation Xers, and ________. a. Millennials b. tweens c. teens d. seniors e. toddlers Q37. Of the following diversity segments in the American population, which is currently the largest? a. Asian Americans b. Hispanics c. telecommuters d. adults with disabilities e. African Americans Q38. A radio station that carries news, features, and editorial opinions about your area is best classified as which type of public? a. regional b. media c. financial d. local e. citizen-action Q39. A company or association's ________ is designed to help guide responses to complex social responsibility issues. a. cause-related marketing b. privacy policy c. discretion in enforcing regulations d. core value system e. code of ethics Q40. Which of the following descriptions most accurately characterizes the baby boomers? a. They are a shrinking market for new housing and home remodeling. b. They were largely unaffected by the recent recession. c. They hold 75% of the country's financial assets. d. They are aging and slowing down. e. They are past their peak earning and spending years. Q41. ________ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment. a. Marketing intelligence b. Sales management c. Customer intelligence d. Competitive intelligence e. Marketing data Q42. Your marketing department is attempting to improve strategic decision making, track competitors' actions, and provide early warning of opportunities and threats. To achieve this goal, which of the following would be the best for your department to use? a. external databases b. marketing intelligence c. the Internet d. company reports only e. internal databases Q43. Cultural differences, especially those involving language, can add to research costs in foreign markets and can increase the ________. a. reliance on primary data b. response rate c. need for a larger sample d. risks of error e. foreign trade Q44. Marketing researchers usually draw conclusions about large groups of consumers by studying a small ________ of the total consumer population. a. sample b. target group c. population d. group e. audience Q45. You are about to test the hypothesis that sales of your product will increase at a very similar rate at either a $5 drop in unit price or a $7 drop in unit price. You are involved in what type of research? a. ethnographic b. descriptive c. focus group d. causal e. exploratory Q46. Which of the following is an example of a free online database that a company could access in order to develop marketing intelligence? a. U.S. Security and Exchange Commission's database b. LexisNexis c. ProQuest d. Hoover's e. Dialog Q47. Anna Gregory just completed reading a marketing research report about the top 25 countries that purchase American products. What would the report most likely say about international research within these countries? a. It is on the decrease due to high costs. b. Despite the costs of international research, the costs of not doing it are higher. c. The costs are higher than the benefits. d. Interpretations of American quality are consistent among different countries. e. There is a lack of qualified research personnel. Q48. In CRM, findings about customers discovered through ________ techniques often lead to marketing opportunities. a. customer strategy b. customer loyalty management c. data mining d. value network e. data warehousing Q49. Ethnographic research ________. a. is most popular in the service sector b. is gathered where people live and work c. comes from traditional focus groups d. provides secondary data e. provides data to marketers when observation is impossible Q50. Maryann Rose is conducting research to determine consumers' personal grooming habits. Because of the personal nature of the survey questions about this topic, Maryann wants to select the contact method that is most likely to encourage respondents to answer honestly. Which contact method should Maryann select? a. online panels b. telephone interviews c. mail questionnaires d. focus group interviews e. individual interviews Q51. Because of the scarcity of good secondary data, international researchers often must collect their own primary data. An initial problem with this collection is developing good ________. a. research firms b. customer relationships with nationals c. analytical models d. relationships with channel members e. samples Q52. Four common sources of internal data supplied to internal databases include the accounting department, operations, the sales force, and the ________. a. owners b. Web c. competition d. stockholders e. marketing department Q53. ________, the most affluent U.S. demographic subculture, now have more than $450 billion in annual spending power. a. African Americans b. Gen Xers c. Hispanics d. Gays and lesbians e. Asian Americans Q54. According to Freud's theories, people are ________ many of the psychological forces shaping their behavior. a. status-driven about b. unaware of c. aware of d. socially conscious of e. unsure of Q55. A(n) ________ is a descriptive thought that a person has about something. a. motive b. belief c. perception d. lifestyle e. attitude Q56. Opinion leaders are sometimes referred to as ________. a. buzz marketers b. the upper class c. the influentials d. the middle class e. networkers Q57. ________ are groups to which an individual wishes to belong, as when a teenage basketball player hopes to play someday for the Los Angeles Lakers. a. Leading adopter groups b. Aspirational groups c. Membership groups d. Social class groups e. Leisure groups Q58. ________ is never simple, yet understanding it is the essential task of marketing management. a. Understanding the difference between primary and secondary data b. Consumer buying behavior c. Consumption pioneering d. Brand personality e. Early adoption Q59. Of the following, the best starting point to understanding how consumers respond to various marketing efforts is the ________ model of a buyer's behavior. a. stimulus-response b. subculture c. belief d. societal e. generational Q60. A customer's lifestyle can be measured using the AIO dimensions. What does AIO stand for? a. Activities, Interests, Opinions b. Adoptions, Interests, Occupations c. Accommodation, Investment, Orientation d. Acknowledgement, Interests, Observations e. Achievement, Involvement, Organizations Q61. People tend to interpret new information in a way that will support what they already believe. This is called ________. a. selective distortion b. selective perception c. selective attitude d. selective retention e. selective learning Q62. ________, the fastest-growing U.S. demographic segment, now number more than 46 million. a. Hispanics b. African Americans c. Gays and lesbians d. Mature consumers e. Asian Americans Q63. Which of the following statements about buying centers is true? a. The buying center roles are specified on the organizational chart. b. The buying center may involve informal participants who are not obvious to sellers. c. The buying center is like a standing committee. d. An individual's role in the buying center does not change. e. The typical buying center has five employees, one to assume each of the buying center's roles. Q64. Generally, the consumer's purchase decision will be to buy the most preferred brand, but two factors can come between the purchase intention and the purchase decision. Which of the following is one of these factors? a. new product adoption b. postpurchase behavior c. attitude of others d. cognitive dissonance e. alternative evaluation Q65. Niche marketing offers smaller companies the opportunity to compete by focusing their limited resources on serving niches that may be ________ or ________ larger companies. a. unknown by; desired by b. too large; undesirable to c. unimportant to; overlooked by d. disappointed by; geographically far from e. unimportant to; desired by Q66. Marketers must be careful to guard against ________ when using age and life cycle segmentation. a. traditional marketing b. underestimating c. gender bias d. cultural bias e. stereotyping Q67. A product's position is based on important attributes as perceived by ________. a. suppliers b. competitors c. consumers d. managers e. market conditions Q68. When a company identifies the parts of the market it can serve best and most profitably, it is practicing ________. a. segmenting b. concentrated marketing c. mass marketing d. market targeting e. differentiation Q69. Which group determines a product's position relative to competing products? a. consumers b. wholesalers c. manufacturers d. suppliers e. retailers Q70. Your firm has decided to localize its products and services to meet local market demands. A good approach to use would be ________ segmentation. a. customer b. image c. geographic d. benefit e. end-use Q71. Which positioning strategy offers consumers a 'good deal' by offering equivalent-quality products or services at a lower price? a. more-for-less b. less-for-much-less c. all-or-nothing d. same-for-less e. more-for-the-same Q72. By studying its less loyal buyers, a company can detect which brands are most ________ with its own. a. similar b. competitive c. often overlooked d. complementary e. used Q73. You have just created the 'perfect' ad. It communicates the full mix of benefits upon which the brand is differentiated and positioned. This full positioning of the brand is called ________. a. its value proposition b. value profiling c. differentiated marketing d. target marketing e. capturing the consumers' attention Q74. Consumers can show their allegiance to brands, stores, or companies. Marketers can use this information to segment consumers by ________. a. store type b. brand preference c. loyalty status d. usage rate e. user status Q75. In general, a company should enter only segments in which it can ________ and ________. a. offer superior value; ship faster b. offer lower prices; ship faster c. identify behaviors; understand spending power d. offer superior value; gain advantages over competitors e. gain advantages over competitors; offer new products Q76. The answer to the customer's question, 'Why should I buy your brand?' is found in the ________. a. quality image b. customer services c. value proposition d. pricing and promotion structure e. differentiation Q77. Which of the following is an advantage offered by co-branding? a. Brand equity is stabilized. b. Retailers have exclusive products that cannot be purchased from competitors. c. Manufacturers do not have to invest in creating their own brand names. d. Advertising, sales, promotion, and marketing must be carefully coordinated. e. A company can expand its existing brand into a category it otherwise might have difficulty entering alone. Q78. The Ad Council of America has developed dozens of ________ marketing campaigns, including classics such as 'Smokey the Bear,' 'Keep America Beautiful,' and 'Only You Can Prevent Forest Fires.' a. social b. brand equity c. place d. service e. product line Q79. Which of the following is most likely to be seen as the major enduring asset of a company, outlasting the company's specific products and facilities? a. specialty products b. convenience products c. staples d. unsought products e. brands Q80. A(n) ________ is a name, term, sign, symbol, design, or a combination of these, that identifies that maker or seller of a product or service. a. co-branding b. internal marketing c. brand d. external marketing e. service Q81. Which of the following capital items is NOT considered accessory equipment? a. buildings b. hand tools c. lift trucks d. chairs e. desks Q82. An increasing number of retailers and wholesalers have created their own ________, also called store brands. a. shopping products b. unsought products c. private brands d. specialty products e. service variability Q83. Product is a key element in a company's ________, which may, at one extreme, consist of pure tangible goods or, at the other extreme, pure services. a. brand extension b. core customer value c. brand equity d. co-branding e. market offering Q84. Costco's Kirkland products are an example of a(n) ________. a. private brand b. sponsorship brand c. organizational brand d. support brand e. manufacturer's brand Q85. Product mix ________ refers to the number of different product lines the company carries. Procter & Gamble markets 250 brands organized into many product lines. a. height b. length c. width d. depth e. perimeter Q86. A ________ is defined as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. a. product b. service variability c. service encounter d. private brand e. service Q87. Developing a product involves defining the benefits that it will offer. These benefits are communicated and delivered by ________ such as quality, features, and style and design. a. marketing tools b. product attributes c. private brands d. product mixes e. consumer products Q88. ________ occurs when a company introduces additional items in a given product category under the same brand name, such as new flavors, forms, colors, ingredients, or package sizes. a. Service variability b. A product mix c. A line extension d. Interactive marketing e. Service intangibility Q89. New product development starts with ________. a. idea screening b. test marketing c. concept testing d. idea generation e. concept development Q90. Which of the following statements best explains why idea screening may be the most import step of new product development? a. It increases the number of ideas generated. b. It saves the company money in product development costs by giving the green light to only the product ideas that are likely to be profitable. c. Some ideas that will become market disasters may be originally viewed favorably by the idea screeners. d. It gives research and development team members an opportunity to gather consumer feedback. e. Some potentially profitable ideas may be ill perceived by the idea screeners. Q91. Mattel's Barbie is an example of an age-defying product. Barbie, simultaneously timeless and trendy, is in the ________ stage of the PLC. a. growth b. adoption c. maturity d. decline e. introduction Q92. Many marketers are now using new simulated marketing technologies, such as Frito-Lay's online virtual convenience store, to reduce the cost of ________. a. concept testing b. marketing strategy development c. product development d. concept development e. test marketing Q93. In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness? a. adoption b. product development c. growth d. maturity e. introduction Q94. ________ is a new-product development approach in which one company department works to complete its stage of the process before passing the new product along to the next department and stage. a. Simultaneous product development b. Sequential product development c. Product life-cycle analysis d. Micromarketing e. Team-based product development Q95. Which of the following is necessary for successful new-product development? a. a holistic and sequential product development approach b. an innovation management system and sequential product development c. a market pioneer mindset and a holistic approach d. a customer-centered, team-based, systematic approach e. a team-based, innovation-management approach Q96. In the concept testing stage of new-product development, a product concept in ________ form is presented to groups of target consumers. a. market-tested b. commercial c. physical or symbolic d. prototype e. final Q97. Big Moose Toys is a market pioneer introducing a modern version of Bullwinkle the Moose, a character from an animated television series originally broadcast in the 50s and 60s. The company's version of Rocky the Flying Squirrel, another character from the show, targeted to baby boomers was a strong success. They need to make the new launch strategy for Bullwinkle consistent with the intended ________. a. fad b. pricing c. product position d. prototype e. brand extension Q98. The creation of a successful new product depends on a company's understanding of its ________ and its ability to deliver ________ to customers. a. customers, competitors, and markets; superior value b. product, marketing mix, and marketing strategy; functional features c. product life cycle, legal responsibilities, and social responsibilities; innovations d. customers, brands, products; product images e. competitors, distributors, and employees; new styles Q99. The search for new-product ideas should be ________ rather than ________. a. impulsive; strategic b. systematic; haphazard c. employee-centered; customer-centered d. intermittent; continuous e. segmented; holistic Q100. Product improvements, product modifications, and original products can all be classified as ________. a. test products b. pioneer products c. product concepts d. new products e. product ideas
Solution Description

Q1. ________ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs.

a. The product concept

b. Selling myopia

c. Marketing management

d. Marketing myopia

e. Value proposition

Q2. The art and science of choosing target markets and building profitable relationships with them is called ________

a. societal marketing

b. positioning

c. marketing management

d. segmentation

e. selling

Q3. Frequent flyer programs offered by airlines are an example of a ________.

a. consumer-generated marketing program

b. basic customer relationship

c. frequency marketing program

d. club marketing program

e. structural benefit provided for top customers

Q4. The set of marketing tools a firm uses to implement its marketing strategy is called the ________.

TQM

marketing effort

product mix

marketing mix

promotion mix

Q5. Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ philosophy.

a. production concept

b. societal marketing concept

c. selling concept

d. product concept

e. marketing concept

Q6. Your state's department of education has budgeted a significant amount of money for a radio, print, television, and online advertising campaign emphasizing the long-term benefits, both educational and professional, of reading every day. This is an example of a(n) ________ campaign.

a. ethical

b. consumer-generated

c. for-profit

d. differentiated

e. social marketing

Q7. Amazon.com leverages relationships with its 35 million customers by offering them music, videos, gifts, toys, consumer electronics, and office products, among other product items. Based on previous purchase history, the company recommends related CDs, books, or videos that might be of interest. This helps Amazon.com capture a greater ________.

a. share of customer

b. customer base

c. customer ownership

d. value proposition

e. social network

Q8. The final step in the marketing process is ________.

a. capturing value from customers

b. creating customer loyalty

c. designing a customer-driven marketing strategy

d. understanding the marketplace

e. creating customer lifetime value

Q9. When backed by buying power, wants become ________.

a. self-esteem needs

b. physical needs

c. demands

d. social needs

e. exchanges

Q10. Selecting which segments of a population of customers to serve is called ________.

a. positioning

b. market segmentation

c. customization

d. choosing a value proposition

e. target marketing

Q11. ________ are human needs as shaped by individual personality and culture.

a. Values

b. Deprivations

c. Demands

d. Exchanges

e. Wants

Q12. Through ________, many companies today are strengthening their connections to all partners, from providers of raw materials and components to final buyers who purchase final products.

a. customized marketing

b. supply chain management

c. partnership relationship marketing

d. deviated marketing

e. direct marketing

Q13. When the economy tightens, customer loyalty and customer retention become ________ for marketers.

a. impossible

b. more important

c. short-term but not long-term goals

d. less important

e. long-term but not short-term goals

Q14. ________ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others.

a. Marketing

b. Advertising

c. Negotiating

d. Bartering

e. Selling

Q15. In addition to attracting new customers and creating transactions, the goal of marketing is to ________ customers and grow the company's business.

a. entertain

b. retain

c. encourage

d. educate

e. recognize

Q16. Which of the following best explains why consumers have greater power and control in today's marketplace?

a. More companies are implementing societal marketing and weighing long-run costs and benefits.
b. Implementation of the product concept has resulted in continually improving products.

c. The production concept and competition have lowered prices.

d. Through new communication technologies, customers have more access to information and more methods of sharing their opinions with other customers.

e. Customer-driving marketing creates products and services that meet customers' future needs.

Q17. Favorite Memories specializes in serving market segments that major competitors overlook and ignore. Which of the following best describes Favorite Memories?

a. marketer challenger

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