MARKETING MANAGEMENT-TEST 1(March 2) 1. The Hotel Westcourt in Phoenix is next to Metrocenter, a vast shopping mall. The hotel wants to market its location and many other amenities to conventiongoers from other states. What requirements will be needed for marketing to occur? a. a way to communicate with convention attendees b. something to exchange c. two or more parties with unsatisfied needs d. desire and ability to satisfy unmet needs e. all of the above
The first task of marketing is to: a. discover the needs of consumers. b. discover the needs of competitors. c. discover the needs of sellers. d. satisfy the needs of regulators. e. satisfy the needs of watchdog groups. A television advertisement shows several teenagers searching through the refrigerator for something to quench their thirst. The refrigerator offers the youngsters many alternatives—soft drinks, fruit drinks, sport drinks and bottles of Sunny Delight drink. The ad, which shows the teens happily selecting Sunny Delight over all the other product offerings, appeals to the consumers' _____ for liquid and attempts to shape consumers' _____ for the advertised product. a. wants; needs b. wants; preferences c. preferences; needs d. needs; wants e. needs; preferences In marketing, the most common meaning of market is: a. a store that sells groceries. b. any place consumers can buy things. c. a particular line of products or specific line of merchandise for sale. d. a group of companies that have goods for sale. e. people with the desire and with the ability to buy a specific product. Which of the following groups should be the LEAST likely target market for a company producing canned foods in single serving sizes? a. single adults b. school kitchens c. campers d. senior citizens e. vending machine owners The four Ps of the marketing mix are: a. personnel, priorities, placement, and profits. b. promotion, product, personnel, and place. c. product, place, distribution, and advertising. d. product, promotion, price, and place. e. profitability, productivity, personnel, and packaging.
The owners of Old School Brand Authentic Antique Foods researched Civil War-era cookbooks and to come up with recipes the old-fashioned products they market. Concern about the _____ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine. a. product b. price c. promotion d. place e. production Congressional legislation restricting Internet alcohol sales would affect on-line sellers such as Virtual Vineyards. For Virtual Vineyards, this legislation would be and example of a(n) _____ factor. a. environmental b. promotional c. process d. price e. technological Customer value emphasizes: a. convenience. b. price. c. quality. d. service (before-sale and after-sale). e. all of the above. After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop. The result is called the: a. marketing strategy. b. marketing program. c. macromarketing program. d. micromarketing program. e. marketing concept. An organization that focuses its efforts on continuously collecting information about customers' needs and competitors' capabilities, sharing this information across departments, and using the information to create customer values is said to: a. stress the societal marketing concept. b. have a focus on macromarketing. c. have a nonprofit orientation. d. have a market orientation. e. be utilizing consumerism. Which of the following most directly explains why pharmaceutical giant Pfizer offered low-income senior citizens many of its most widely used prescriptions for $15 each a month? a. the profit motive b. the social responsibility concept c. its internal environment d. its regulatory environment e. corporate downsizing
The societal marketing concept is: a. the moral principles and values that govern the actions and decisions of an entire group. b. the idea that organizations are a part of a larger society and are accountable to society for their actions. c. actively trying to understand customer needs and satisfying them as well as the firm's goals. d. seeking greater influence about the quality of products and the amount of information received from sellers. e. the view that an organization should discover and satisfy the needs of its consumers in a way that also provides for society's well-being. The acronym SBU stands for: a. standard business unit. b. strategic business unit. c. strategic benefit of usage. d. service business unit. e. service business usage. By understanding its business, an organization can take steps to define its _____, a statement of the organization's scope. This statement often identifies its customers, markets, products, technology, and values. a. benefit statement b. business portfolio c. functional philosophy d. mission e. corporate code Which of the following is a type of quantitative goal a business firm might pursue? a. profit b. sales revenue c. market share d. unit sales e. all of the above Classic economic theory assumes a firm seeks to maximize its long-run _____, achieving as high a financial return on its investment as possible. a. profit b. sales revenue c. market share d. quality e. employee welfare Market share is the ratio of sales revenue of the firm to the total sales revenue of all _____, including the firm itself. a. firms in the industry b. firms in alternative industries c. firms surveyed by the U.S. Government d. firms sharing in marketing principles e. domestic firms
Designing a car is expensive and time-consuming even with the use of computers because until recently there was no way for all the varied departments that are involved in new car development to work together. DaimlerChrysler has created a central, Webbased system that cuts the design and production process by at least two years. This is an example of a(n): a. benchmarking project. b. innovation-oriented mission. c. action program. d. operational goal implementation. e. competency. DVD Overnight is a small company that rents DVD movies by mail using the Web. It jumped into an industry where there were no firm leaders but lots of competitors and established a loyal clientele by seizing the opportunity to provide a service that was not available through other companies that rented movies over the Internet—reliable overnight shipment. Its delivery system created its: a. viable mission. b. competitive advantage. c. tactical innovation. d. benchmarking-focus. e. sales-orientation. In the Boston Consulting Group (BCG) model to analyze a firm's strategic business units, or SBUs, the vertical axis reflects the: a. return on investment desired. b. market growth rate. c. market segment size. d. relative market share. e. number of employees. Gillette continues to manufacture Liquid Paper correction fluid for use with typewriters even though most of the world uses word processors. It is a small market that has little growth, but Liquid Paper has the largest market share, and Gillette invests no promotional monies in maintaining the declining product. Liquid Paper is an example of a: a. star. b. cash cow. c. question mark. d. exclamation mark. e. shooting star. Several years ago, Black & Decker purchased General Electric's small appliances product line. General Electric did not know what to do with the line. Black & Decker purchased the line because it needed the cash infusion from a product line that had a dominant market share. Since people replace small appliances infrequently and because many are handed down from parent to child, the industry is a slow-growth one. From this information and your knowledge about the BCG portfolio analysis, you should know this small appliance line would be classified as a: a. dog. b. cash cow. c. question mark. d. star. e. bonanza.
Which market-product strategy requires no change in the product but requires a company to seek out new customers in new markets? a. market penetration b. market development c. product development d. diversification e. all of the above In its inception, Transportation Safety Technologies, Inc. produced and sold safety devices to make the trucking industry safer especially on long hauls across North America. It soon realized that transporting goods across U.S. borders by truck was expensive and time-consuming for the truckers. Dozens of government agency approvals and costly downtime hamper the process. Transportation Safety Technologies, Inc., has recently begun providing its trucking companies with International Trade Data Systems (ITDS). This system stores information about each shipment in a centralized database, which can be accessed at border checkpoints and eliminate the need for costly manual inspections. This is an example of the implementation of a _____ strategy. a. market penetration b. market development c. divestment d. diversification e. product development The acronym SWOT used in the term SWOT analysis stands for: a. strengths, weaknesses, opportunities, and timing. b. strategies, work load, opportunities, and timing. c. strengths, weaknesses, opportunities, and threats. d. simple, workable, optimal, and timely. e. situational, worldwide, organizational and technological. A television production company was looking for an idea for a new show and approached Emeril Lagasse, a charismatic chef that frequently appears on the Food Channel. It was decided the production company would build a show based around Lagasse's life. While the casting of the popular Lagasse insured people would watch the first couple shows, poor scripts led to the cancellation of the show. In terms of the SWOT analysis, the casting of Lagasse was a _____, and the poor scripts were a _____. a. strength; weakness b. weakness; threat c. threat; opportunity d. opportunity; threat e. opportunity; strength Two major elements of the implementation phase of the strategic marketing process are: a. segmenting the market and selecting target markets. b. establishing a business mission and designing measurable goals and objectives. c. designing the marketing mix and setting the budget. d. identifying deviations in the marketing plan and acting on them. e. executing the marketing program and designing the marketing organization. DVD Overnight is a small company that rents DVD movies by mail using the Web. It jumped into an industry where there were no firm leaders but lots of competitors and established a loyal clientele by seizing the opportunity to provide a service that was not available through other companies that rented movies over the Internet—reliable overnight shipment. Its delivery system created its: a. viable mission. b. competitive advantage.
c. tactical innovation. d. benchmarking-focus. e. sales-orientation. What are the three steps involved in the PLANNING phase of the strategic marketing process? a. situation (SWOT) analysis; market-product focus and goal setting; and marketing program development b. planning; implementation; and control c. set market and product goals; select target markets; find points of difference; and position the product d. identify industry trends; analyze competitors; assess own company; and research customer e. identify where we have been; where we are headed; and where we are now When the marketing student said, “It's really hard for me to get to class on time without a car,” she was entering which stage of the consumer decision process? a. purchase decision b. alternative evaluation c. information search d. problem recognition e. postpurchase behavior In which stage in the consumer purchase decision process would a consumer ask, "Is installation included in the price of this air conditioner?" a. problem recognition b. information search c. alternative evaluation d. purchase decision e. evaluation Amy is an avid mystery reader and has decided to purchase a mystery book for her best friend. Since the two friends enjoy the same types of mysteries, Amy will know exactly which book her friend would like. When Amy was scanning her memory for various mystery book options, she was engaged in: a. problem recognition. b. an internal search. c. an external search. d. a purchase task. e. the creation of an antecedent state. Examples of public sources of information for an external information search include: a. advertising. b. Consumer Reports magazine. c. sales personnel. d. friends and relatives. e. point of purchase displays. The objective and subjective attributes of a brand consumers use to compare different products are called: a. temporal states. b. antecedent states. c. information sources. d. evaluative criteria. e. the evoked set.
You want to buy some dry breakfast cereal, and you are in the mood for unsweetened flakes. The store you go to has three cereals of that type: Post Toasties, Kellogg's Corn Flakes, and Wheaties. Collectively, what is this group of cereal brands called? a. a value group b. an evoked set c. an evaluative criterion d. an impulse set e. a discriminative group Maria has just told her supervisor, “I'm so glad I bought the Motorola P280 phone rather than those other models I was looking at. I have really enjoyed the fact that its Stream service gives me an always-on connection to the Internet. I haven't seen another phone with that feature.” Which stage of the consumer purchase decision process is demonstrated by Maria's conversation? a. problem recognition b. information search c. alternative evaluation d. purchase decision e. postpurchase behavior How might consumers who purchased a new innovative type of running shoe try to reduce any cognitive dissonance they might feel? a. Use only an internal information search. b. Have little or no problem solving involvement. c. Read ads for running shoes even after the purchase has been made. d. Use routine problem solving. e. If the shoe is comfortable and gives the requisite support, there will be no cognitive dissonance. A consumer's _____ refers to the personal, social, and economic significance of a purchase. a. involvement b. aspiration c. acculturative response d. motivation e. selective perception Five situational influences have an impact on a consumer's purchase decision process are the purchase task, social surroundings, physical surroundings, temporal effects, and: a. frame of mind. b. antecedent states. c. dependent variables. d. independent variables. e. spatial surroundings. In the hierarchy of needs water, food, and sex would be considered _____ needs. a. physiological b. safety c. social d. personal e. psychological For which of the following products is perceived risk likely to be the greatest for a female who has just taken her first job after college graduation? a. a magazine subscription to Glamour b. a cell phone c. flowers to decorate her new apartment
d. a new outfit for her first day at work e. a pair of jeans to wear on weekends Which of the following statements about brand loyalty is true? a. Learning is closely connected to brand loyalty because habits are learned. b. Brand loyalty can reduce the perceived risk associated with the buying of certain products. c. The incidence of brand loyalty is declining in North America. d. Brand loyalty results from the positive reinforcement of previous actions. e. Brand loyalty is accurately described by all of the above. Cell phones have been available for quite awhile, and Motorola is a recognized brand name of cell phones. Cell phones that can be connected to computer modems and used to upload or download information are commonplace but slow. Motorola joined with VoiceStream to create a phone that has an always-on Internet connection. Promoting a new benefit of continuous Internet connection should lead to a favorable attitude toward the cell phone by: a. changing beliefs about a specific attribute. b. changing the importance of a specific attribute. c. adding of a new important attribute. d. reducing perceived risk. e. stimulus generalization. A _____ is a mode of living that is identified by how people spend their time and resources; what they consider important in their environment; and what they think of themselves and the world around them. a. culture b. subculture c. social class d. lifestyle e. reference group If a fraternity wanted to attract new members, it should focus on people who viewed the current members as a(n) _____ group. a. membership b. aspiration c. dissociative d. reference e. involvement If you wanted to set up a business importing amber from Denmark to the United States, you would have to plan on paying the U.S. Customs Service roughly 20 percent of the value of the product as a: a. bribe. b. tariff. c. subsidy fee. d. revenue. e. quota. The North American Free Trade Agreement was designed to encourage free trade between: a. North America, Central America, and South America. b. the United States, Canada, and Mexico. c. the United States and the European Union. d. member countries originally from NATO (North Atlantic Treaty Organization). e. North America and The Commonwealth of Independent States.
Almost all countries have some division of social class. The determinant factor for assigning these classes may differ from country to country. For example, in the United States the primary determinant factor for assigning social class is occupation, in India it is birthright, in China it is geographical region and education, and in Singapore it is income. These differences are best explained in terms of a country's: a. cultural ethnocentrism. b. beliefs. c. customs. d. religion. e. values. _____ in a country is directly affected by numerous factors including the government's orientation toward foreign companies and trade with other countries. a. Culture b. Political stability c. Income d. Psychographics e. Demographics Two variations on licensing are: a. contract manufacturing and contract assembly. b. contract manufacturing and franchising. c. contract manufacturing and joint ventures. d. foreign assembly and franchising. e. foreign assembly and joint ventures. Capital Radio PLC, the United Kingdom's biggest commercial radio firm recently announced that it would cooperate with Walt Disney Co. to create a radio network for children under the age of 16. The company will broadcast to a potential audience of 25 million under the name Capital Disney. This new radio network will be created as the result of: a. unfair trade practices. b. expropriation. c. indirect exporting. d. a dumping operation. e. a joint venture. Changing a product in some way to make it more appropriate for a country's climate or preferences is an example of which type of product strategy? a. product extension b. product customization c. product adaptation d. product invention e. product integration _____ is a situation where products are bought in a lower-priced country from a manufacturer's authorized reseller, shipped to higher-priced countries, and sold through unauthorized channels of distribution below the manufacturer's suggested retail price. a. Black market b. Gray market c. Monopolized market d. Globalized market e. Parallel exporting
When a firm sells its domestically produced goods in a foreign country through an intermediary, it is using: a. direct exporting. b. indirect exporting. c. licensing. d. contract manufacturing. e. foreign assembly. Foreign countries with very low per capita incomes may, nonetheless, be attractive markets for expensive goods. To get a more accurate picture of a country's purchasing power, a country's _____ must also be considered. a. total income b. total area c. geographical location d. culture e. income distribution When a U.S. airplane manufacturer sells its airplanes to business executives in Germany without using intermediaries, it is called: a. direct exporting. b. indirect exporting. c. licensing. d. foreign manufacturing. e. foreign assembly. In international marketing the product strategy of selling virtually the same product in other countries is called product _____ strategy. a. extension b. globalization c. adaptation d. invention e. integration List one major advantage and one major disadvantage of licensing as an entry mode strategy for global marketers.