\u200b1. A __________ is a road map for the marketing activities of an organization for a specified future time period such as one year or five years.<\/p>\n
\u200bmarketing dashboard<\/p>\n
\u200bmarketing plan<\/p>\n
\u200boperation plan<\/p>\n
\u200bmission statement<\/p>\n
\u200b2. What is meant by \u201caccelerating the process?\u201d<\/p>\n
\u200bIncrease advertising costs during product launch<\/p>\n
\u200bSpeed up new product time to market<\/p>\n
\u200bIdentify major competitors early<\/p>\n
\u200bCreate a new market space<\/p>\n
\u200b3. The product life cycle refers to __________.<\/p>\n
\u200ba concept that describes the stages a new product goes through from product concept to commercialization<\/p>\n
\u200bthe average life span of a product<\/p>\n
\u200ba concept that describes the stages a product goes through in the marketplace\u2014early growth, accelerated development, maturity, and decline<\/p>\n
\u200ba concept that describes the stages a product goes through in the marketplace\u2014introduction, growth, maturity, and decline<\/p>\n
\u200b4. Jay stops at the shopping mall to purchase a new pair of jeans from the Diesel store. He is the ultimate consumer in a pipeline from the producer through intermediaries including the clothing store. This pipeline is actually a _______.<\/p>\n
\u200bmarketing channel<\/p>\n
\u200bmarketing tunnel<\/p>\n
\u200bconsumer market<\/p>\n
\u200bdistribution matrix<\/p>\n
5. What is the marketing objective for the growth stage of the product life cycle?<\/p>\n
\u200bmaintain brand loyalty<\/p>\n
\u200bminimize promotion<\/p>\n
\u200bincrease market share<\/p>\n
\u200bstress differentiation<\/p>\n
\u200b6. In the nonprofit world of the performing arts box office technology has essentially remained the same since the 1980s. A company called Tessitura is trying to change that. Tessitura is able to track every transaction with its patrons in one database. The information collected includes ticket purchases, fund-raising, volunteering, and gift shop purchases that will help symphonies, operas, and theaters develop customer profiles in order to tailor their sales messages to specific individuals. In other words, Tessitura will allow arts groups to engage in:<\/p>\n
\u200bmainstream marketing<\/p>\n
\u200bsocietal marketing<\/p>\n
\u200brelationship marketing<\/p>\n
\u200bmarket aggregation<\/p>\n
\u200b7. Marketing refers to:<\/p>\n
the production of products or services that will generate the highest return on investment.<\/p>\n
\u200bthe activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.<\/p>\n
\u200bthe activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers.<\/p>\n
\u200bthe process of identifying target market segments for a product or service.<\/p>\n
\u200b8. Variables such as location the North American Industry Classification System (NAICS) code and type of buy are all examples of ways to:<\/p>\n
\u200bpromote NAFTA.<\/p>\n
\u200bsegment an organizational market.<\/p>\n
\u200bforecast sales to a consumer market.<\/p>\n
\u200bdifferentiate products.<\/p>\n
9. While pricing objectives frequently reflect corporate goals pricing constraints often relate to:\u200b<\/p>\n
\u200bstockholder demands.<\/p>\n
\u200bconditions existing in the marketplace.<\/p>\n
\u200ban organization\u2019s code of ethics.<\/p>\n
\u200bthe financial realities within the organization itself.<\/p>\n
\u200b10. In personal branding the \u201cprice\u201d component of the marketing mix refers to:<\/p>\n
\u200bThe number of hours you spend job searching<\/p>\n
\u200bThe annual cost of maintaining online profiles (such as LinkedIn)<\/p>\n
\u200bThe expense associated with job-hunting<\/p>\n
\u200bThe salary range and job benefits you hope to receive<\/p>\n
11. At Mattel Barbie is child-tested to be sure the doll cannot be broken apart and accidentally choke a child. This type of consumer or safety test occurs during the __________ stage of the new-product process.<\/p>\n
\u200bnew-product strategy development<\/p>\n
\u200bmarket testing<\/p>\n
\u200bdevelopment<\/p>\n
\u200bscreening and evaluation<\/p>\n
12. Customer value refers to:<\/p>\n
\u200bthe cluster of benefits that an organization promises customers to satisfy their needs.<\/p>\n
\u200bthe need of a customer to receive the highest quality product at the lowest possible price.<\/p>\n
\u200ba statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers\u2019 needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers.<\/p>\n
\u200bthe unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.<\/p>\n
13. Developing a pool of concepts to serve as candidates for new products is the __________ stage of the new-product process.<\/p>\n
\u200bidea generation<\/p>\n
\u200bproduct development<\/p>\n
\u200bopen innovation<\/p>\n
\u200bnew-product strategy development<\/p>\n
\u200b14. The goal of a SWOT analysis is to:<\/p>\n
\u200bidentify market research questions in order to develop new products for new market segments.<\/p>\n
\u200bdetermine how raises, bonuses, and dividends will be paid.<\/p>\n
\u200bidentify the critical strategy-related factors that can impact the firm.<\/p>\n
\u200breorganize the firm\u2019s marketing department.<\/p>\n
\u200b15. Marketing research refers to:<\/p>\n
\u200bthe science of using observable human behavior in order to identify and solve marketing problems.<\/p>\n
\u200bthe process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.<\/p>\n
\u200bthe use of information technology to find objective solutions to a marketing problem.<\/p>\n
\u200bthe process of systematically collecting and analyzing information in order to define a marketing problem.<\/p>\n
16. There is no single \u201cgeneric\u201d marketing plan that can apply to all organizations or all institutions. Rather, the specific format for a marketing plan for an organization depends on the following: the industry, the kind and complexity of the organization, and ________.\u200b<\/p>\n
\u200bavailable resources<\/p>\n
\u200bthe financial investment needed<\/p>\n
\u200bthe competition<\/p>\n
\u200bthe target audience and purpose<\/p>\n
\u200b17. Which of the following conditions are necessary for marketing to occur?<\/p>\n
\u200ba quality product, a fair price, a clever method of promotion, and a place where a customer can buy the product<\/p>\n
\u200btwo or more people, a product, a reasonable price, and a place to make an exchange<\/p>\n
\u200btwo or more people, a method of assessing needs, a way to communicate, and an exchange<\/p>\n
\u200btwo or more parties with unsatisfied needs, a desire and an ability to satisfy them, a way to communicate, and something to exchange<\/p>\n
\u200b18. Online retail purchases by consumers can be the result of several very different approaches, which include: (1) paying dues to become a member of an online discount service; (2) participating in an online auction; (3) going directly to online malls; and (4) _______.<\/p>\n
\u200bparticipating in a buying cooperative<\/p>\n
\u200bbecoming a secret shopper<\/p>\n
\u200busing a shopping \u201cbot\u201d to search for a product at locations with the best price<\/p>\n
\u200bbecoming a member of a research group that evaluates new products<\/p>\n
\u200b19. Environmental scanning refers to:<\/p>\n
\u200bassessing any possible negative impact a firm\u2019s activities might have on the local ecology.<\/p>\n
\u200bsetting up a regular schedule to assess the performance of different divisions within a firm.<\/p>\n
\u200bcontinually acquiring information on events occurring outside the organization to identify and interpret potential trends.<\/p>\n
\u200binitiating an internal talent search to identify employees who can think \u201coutside the box\u201d to generate solutions to marketing problems caused by changes in the marketing environment.<\/p>\n
\u200b20. Relationship selling refers to:<\/p>\n
\u200bthe assignment of a single salesperson to a single customer throughout the entire sales process.<\/p>\n
\u200bthe practice of building ties to customers based on a salesperson\u2019s attention and commitment to customer needs over time.<\/p>\n
\u200bwhen suppliers and sellers combine their expertise and resources to create customized solutions; commit to joint planning; and share customer, competitive, and company information for their mutual benefit, and ultimately the customer.<\/p>\n
\u200bthe practice of maintaining contact with a customer on a regularly scheduled basis following the initial sale of a product or service.<\/p>\n
21. A global marketing strategy refers to:\u200b<\/p>\n
\u200bthe strategy currently used by most U.S. domestic firms that when entering a new international market, these firms offer only those products that require the least amount of product adaptation.<\/p>\n
the global strategy of seeking out already established firms in other nations and selling them the rights to manufacture and distribute the firm\u2019s products through a host nation\u2019s local businesses.<\/p>\n
\u200bthe strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.<\/p>\n
\u200bthe strategy used by multinational firms that have as many different product variations, brand names, and advertising programs as countries in which they do business.<\/p>\n
22. Segmentation based on some subjective mental or emotional attributes, aspirations, or needs of prospective customers is referred to as:<\/p>\n
\u200bsocioeconomic segmentation.<\/p>\n
\u200bpsychosocial segmentation.<\/p>\n
\u200baffective segmentation.<\/p>\n
\u200bpsychographic segmentation.<\/p>\n
23. Computer-based networks that trigger actions by sensing changes in the real or digital world are known as:<\/p>\n
\u200bglobal marketing platforms.<\/p>\n
\u200bconvergent systems.<\/p>\n
\u200bintelligence technologies.<\/p>\n
\u200bsmart systems.<\/p>\n
\u200b24. The study of similarities and differences among consumers in two or more nations or societies is referred to as __________.<\/p>\n
\u200btransnational finance<\/p>\n
\u200bmarket synthesis<\/p>\n
\u200bcross-cultural analysis<\/p>\n
\u200binternational sociographics<\/p>\n
25. Advertising, personal selling, sales promotion, public relations, and direct marketing are marketing communications alternatives that make up a firm\u2019s __________.<\/p>\n
\u200bmarketing mix<\/p>\n
\u200bpromotional mix<\/p>\n
\u200bcommunication source<\/p>\n
\u200bmedia strategy<\/p>\n
26. Neuromarketing is becoming more important in marketing as experts realize that traditional research methods such as focus groups and surveys may not be enough to understand what drives consumer purchase behavior due to:\u200b<\/p>\n
\u200bIt is not possible to formulate questions without bias<\/p>\n
\u200bConsumers cannot verbalize their emotional responses<\/p>\n
\u200bThe data obtained is not quantifiable<\/p>\n
\u200bThe sample size is too small<\/p>\n
27. Which of the following transactions occurred in the marketspace?<\/p>\n
\u200bConnie sold Discovery Toys creative puzzles at an in-home demonstration.<\/p>\n
\u200bJosh bought his mother a menorah through the Source for Everything Jewish gift catalog by calling a toll-free telephone number.<\/p>\n
\u200bCorey bought a double-dipped chocolate ice cream cone from the ice cream person when his mobile ice cream truck came down the street.<\/p>\n
\u200bJoan bought a brand new pair of Dansko shoes through Zappos.com.<\/p>\n
28. Four trends in the past decade have significantly influenced the landscape of global marketing. One of them is:<\/p>\n
\u200ba decrease in most countries\u2019 GDPs and a renewal of nationalism.<\/p>\n
\u200bthe emergence of networked global marketspace.<\/p>\n
\u200ba more aggressive attitude towards initiating international tariffs and quota systems.<\/p>\n
\u200ban increase in most countries\u2019 GDPs coupled with an increased degree of consumer ethnocentrism.<\/p>\n
\u200b29. The term branding refers to __________.<\/p>\n
\u200bthe licensing of a name, phrase, design, symbol, or combination of these for a period of 17 years, at which time a firm may renew its intellectual property rights to them<\/p>\n
\u200ban organization\u2019s use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors<\/p>\n
\u200bthe establishment of a commercial, legal name under which a company does business<\/p>\n
\u200bthe identification of an organization\u2019s products based upon individual SKUs<\/p>\n","protected":false},"excerpt":{"rendered":"
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