MKT111
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Dr.Napester
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| Marketing is an activity that only large firms with specialized departments can execute. ((FALSE)) |
| The marketing plan is broken down into various components—how the product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer.((TRUE)) |
| Understanding the marketplace and a customer's needs and wants is fundamental to marketing success. ((TRUE)) |
| As Godiva and Hershey’s battle for chocolate lovers, they divide the population into a host of categories such as luxury versus cost-conscious and service-oriented versus self-service.((TRUE)) |
| The four Ps of the marketing mix include product, promotion, planning, and place. ((FALSE)) |
| Supply chain management is the set of approaches and techniques that firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and other firms involved in the transaction into a seamless value chain in which merchandise is produced and distributed in the right quantities, to the right locations, and at the right time. ((TRUE)) |
| Value is what you get for what you give. ((TRUE)) |
| In value cocreation, the customer participates in the creation of a good or service, which provides additional value to the customer.((TRUE)) |
| Marketing advises production about how much of the company's product to make and then tells supply chain mangers when to ship it. ((TRUE)) |
| Entrepreneurs are people who organize, operate, and assume the risk of a business venture. ((TRUE)) |
| When a manufacturer sells truck and car parts to Toyota, this is an example of B2C marketing. ((FALSE)) |
| The power adapters Dell sells with its computers are built by small companies that specialize in power-related accessories. When Dell purchases its power adapters from these small companies, it is engaged in B2B marketing. ((TRUE)) |
| Garage sales and online classified ads are examples of C2C marketing. ((TRUE)) |
| Key to the success of many entrepreneurs is that they launch ventures that aim to satisfy unfilled needs. ((TRUE)) |
| HappyCow is an example of a location-based social media application.((TRUE)) |
| As it relates to marketing, the trade of things of value between the buyer and the seller so that each is better off as a result is known as an exchange. ((TRUE)) |
| Marketing's fundamental purpose is to create value by developing a variety of offerings that will earn income for the company. ((FALSE)) |
| Margo likes her morning coffee, and she always stops at Starbucks because it is on her way to work. Margo is being influenced by the place element of the marketing mix.((TRUE)) |
| To build relationships, firms focus on the lifetime profitability of the relationship, not how much money is made during each transaction. ((TRUE)) |
| Firms have come to realize that good corporate citizenship through socially responsible actions should be a priority because it will help their bottom line in the long run.((TRUE)) |
| Effectively managing supply chain relationships has a minimal effect on profitability. ((FALSE)) |
| A group of firms that make and deliver a given set of goods and services is known as a distribution network. ((FALSE)) |
| Buffalo Wild Wings suggests that its diners check in to its locations using their phones. This demonstrates the use of social media to market a product. ((TRUE)) |
| Approximately half of marketers use social media tools for their businesses.((FALSE)) |
| Firms become value driven, in part, by focusing on the competition. ((TRUE)) |
| When a T-shirt manufacturer states, "We sell it only in black because that way we can buy plenty of black fabric and run our plant efficiently," its statement reflects the views that were popular in which era of the evolution of marketing? ((production-oriented)) |
| Marketing involves all of the following except ((production scheduling.)) |
| Jami sells construction equipment. Whenever she calls on her building contractor customers, she asks if they are having any problems. In doing so, Jami is addressing which of the following core aspects of marketing? ((satisfying customer needs and wants )) |
| Julia is considering a career in marketing. She is concerned about the image of marketers as fast-talking, high-pressure people who care only about making a sale. When reading about the core aspects of marketing, Julia is relieved to see that in marketing ((all parties to the transaction should be satisfied.)) |
| Xavier is analyzing potential market segments. He should carefully seek potential customers who have both an interest in his products and ((the ability to buy them. )) |
| When referring to "exchange," marketers are focusing on ((the trading of things of value.)) |
| Whenever Valerie has a new massage therapy customer, she invites the person to be on her e-mail distribution list. In the process, in addition to exchanging her massage therapy service for payment, Valerie is gathering ((information.)) |
| Which of the following is a core aspect of marketing? ((making product, place, promotion, and price decisions )) |
| Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following except ((performance.)) |
| The four Ps make up the marketing mix, which is the __________ set of decisions or activities that the firm uses to respond to the wants of its target markets.((controllable )) |
| The fundamental goal of marketers when creating goods, services, or combinations of both is to ((create value.)) |
| Brian is struggling with the choice of publishing his new book, How to Cook Polish Barbeque, as an e-book or a paperback. Brian is addressing which core marketing aspect?((making product decisions)) |
| The basic difference between a good and a service is that a good ((can be physically touched. )) |
| Four Winds Art Gallery recently began offering appraisals of customers' art collections, in addition to continuing to sell paintings. Four Winds is ((expanding from offering just goods to also offering services.)) |
| Marketers must determine the price of a product carefully, based on potential buyers' beliefs about ((its value.)) |
| Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes ((the value of their time and energy. )) |
| Henriette offers financial counseling and management on a fee-only basis. She has found that different customers are willing to pay different rates for her services. This shows that her pricing decisions should depend primarily on ((how different customers perceive the value of her services.)) |
| Marketing channel management is also known as ((supply chain management.)) |
| ___________ represents all the activities necessary to get the product to the right customer when that customer wants it. ((Place)) |
| Not only does GIS technology help Starbucks determine the ideal locations for new stores, but it also can enable the company to decide ((which kinds of stores to open. )) |
| The marketing goal of getting the "right quantities to the right locations, at the right time" relates to((managing the supply chain. )) |
| Value-oriented marketers constantly measure((perceived customer benefits against the costs of their offerings. )) |
| Many marketing students initially overlook the importance of marketing channel management because ((many of these activities take place behind the scenes. )) |
| Which element of the marketing mix deals with supply chain management? ((place)) |
| UPS, FedEx, DHL, and other shipping companies support other firms' __________ marketing goals. ((supply chain management )) |
| __________ is communication by a marketer that informs, persuades, and reminds potential buyers about a product or service so as to influence their opinions and elicit a response. ((Promotion )) |
| Effective promotion enhances a product or service's ((perceived value. )) |
| By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to ((increase the perceived value of its products.)) |
| When retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts it is considered _______ marketing.((B2C)) |
| By allowing consumers to sell their unwanted goods to other consumers, auction sites like eBay and Etsy cater to __________ marketing. ((C2C)) |
| As use of the Internet took off, car manufacturers were tempted to sell directly to consumers, but decided instead to continue to sell through their existing dealer networks. The car manufacturers considered switching from __________ to __________ marketing. ((B2B; B2C)) |
| Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students. These bulletin boards increase __________ marketing. ((C2C)) |
| The "Milk Life" advertising campaign, designed to increase awareness of the health benefits of milk, was intended to help market a(n) ((industry.)) |
| The “onboard, online retail business” refers to ((the options airlines offer passengers to shop through their mobile devices while they fly toward their destination.)) |
| The idea that a good product will sell itself is associated with the __________ era of marketing. ((production-oriented )) |
| Henry Ford's statement, "Customers can have any color they want so long as it's black," typified the __________ era of marketing. ((production-oriented)) |
| Melanie works for a small computer software company. Her boss is constantly improving the company's products but neglects customers, billing, and promoting the company. Her boss is probably stuck in the __________ era of marketing. ((production-oriented)) |
| During the __________ era, firms had excess capacity and used personal selling and advertising to generate customers. ((sales-oriented)) |
| The prevailing marketing strategy of the __________ era was to find customers for inventories that went unsold. ((sales-oriented )) |
| Near the end of the model year, the Move-Them-Out automobile dealership had an unusually high inventory level. The manager increased her advertising spending and gave extra incentives to its salespeople. Move-Them-Out operates as if it were in the __________ era. ((sales-oriented)) |
| Many U.S. companies first discovered marketing during the __________ era. ((market-oriented)) |
| Which of the following statements reflects the philosophy of the market-oriented era?((The customer is king. )) |
| Data about how, when, why, where, and what people buy refers to((marketing analytics. )) |
| During the __________ era, manufacturers and retailers recognized they needed to give their customers greater value than their competitors did. ((value-based marketing )) |
| Creative locations, such as kiosks at the baggage claim in airports or small booths in grocery stores, represent Starbucks' effort to improve its offering on which dimension of the marketing mix? ((place)) |
| Trey sells consumer electronics. He knows his customers weigh the costs versus the benefits associated with the different options available. He decides which products to offer and what prices to charge based on the way his customers think. Trey operates as if he were in the __________ era. ((value-based marketing)) |
| Serena studies her customer profiles, market research data, complaints, and other information, attempting to better understand what her customers want. Serena most likely operates in the __________ era of marketing. ((value-based marketing)) |
| In delivering value, marketing firms attempt to find the most desirable balance between ((the need to provide benefits to customers and keep down costs. )) |
| Yolanda is the new restaurant manager in a major hotel. When considering changes in the restaurant that will increase value to customers, Yolanda will likely attempt to either provide the same quality at a lower cost or ((improve products and services at the same cost. )) |
| Christie has just started with a travel agency, and she has been offering clients and prospective clients a range of packaged tours. She is concerned because the commissions she is earning on her sales are lower than she had hoped. Her colleague Peter, who has been with the agency for several years, is having a great deal of success by working closely with the clients, seeking their ideas, and building customized tour packages for each one based on their suggestions. Peter's approach is based on ((value cocreation.)) |
| To become a more value-driven organization, Pokrah University is holding regular coffee-hour discussions with its students and surveying its graduates regarding students' educational needs and desires. By doing so, Pokrah University is becoming more value driven through ((building relationships with customers. )) |
| As owner of a retail franchise food store, Mary Gray purchases supplies based on specials advertised nationally throughout the franchise system. One Monday, she was surprised to find customers asking for specials she hadn't been informed of in advance. The franchise company failed to live up to the value-driven activity of ((sharing information across the organization. )) |
| In the past, manufacturer's representatives did not have real-time inventory data about the products they were selling. Today, manufacturer's representatives are often provided online access to inventory data for the companies they represent. These online inventory systems allow companies to become more value driven by ((sharing information across the organization. )) |
| To build relationships, firms focus on the ___________ of the relationship, not how much money is made during each transaction. ((lifetime profitability )) |
| One of the benefits of value-driven marketing is that attention to customer needs and wants will likely result in ((long-term relationships. )) |
| Even though they operate from out-of-the-way airports and offer few extra services, discount, no-frill airlines like Ryanair and EasyJet have been successful. Consumers obviously consider ((the benefit of lower prices to be greater than the cost of reduced services and less convenience. )) |
| A relational orientation is based on the philosophy that buyers and sellers develop ((a long-term relationship. )) |
| A local art gallery keeps information on its customers regarding their preferences for certain artists as well as the style of art that interests them. The gallery uses this information to inform the customers when new products arrive from their favorite artists and targets them with special promotions. In this way, the gallery is using _______ to build loyalty among its customers. ((customer relationship management )) |
| If a firm adopts a CRM business philosophy, it most likely has a(n) _______ orientation with its customers. ((relational )) |
| After major hurricanes like Katrina, many ethical home repair and building supply businesses continue to charge pre-hurricane prices to their customers, even though due to the huge increase in demand they could charge much more. These firms probably recognize that ((lifetime profitability of relationships matters more than profits from a particular transaction. )) |
| What is the focus of a firm that develops a relational orientation with its customers? ((gaining lifetime profitability from customer relationships)) |
| The goal of customer relationship management is to ((identify and build loyalty among a firm's most valued customers. )) |
| Franco uses a database software system to remind him when his customers should be ready to reorder his industrial cleaning products. With this reminder system, Franco contacts his customers when they are most likely to be "in the buying mode." Franco's system is part of ((customer relationship management.)) |
| Many catalog companies create special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. This is an example of ((customer relationship management. )) |
| It was during the market-oriented era that firms first discovered "marketing." In what timeframe did this occur? ((just after World War II )) |
| Many inventors struggle with the question, "I made it; now how do I get rid of it?" They have made the error of considering marketing as ((an afterthought. )) |
| Georgia, the outside sales rep for a major building supply company, reads a report stating that building permits are down dramatically in her sales territory. She had noticed that things were slowing down, but now she has data confirming her impression. Based on this information, Georgia will help her company become more value driven if she((advises the production and purchasing departments to produce or order smaller quantities of products. )) |
| Jenny, the delivery and sales representative for a beer distributor, is calling on a retailer and sees the shelves are almost empty. An unexpected sporting event held nearby resulted in a huge increase in sales. She calls her company's distribution manager and requests a special delivery for her customer. Jenny is providing the important marketing function of ((alerting the logistics department when to ship products. )) |
| After the previous sales representative in his territory infuriated an important customer, Benjamin visited the customer once a month, never asking for business but hoping to rebuild trust through listening and expressing concern. Finally, after more than two years, the customer gave Benjamin an order. Benjamin was providing the important marketing function of ((engaging customers and developing long-term relationships. )) |
| Which of the following best represents how marketing expands firms' global presence? ((when companies manufacture and sell their products all over the world )) |
| Leah is the marketing manager for an electronics company. While on vacation in Ecuador, she visited electronics stores in the major malls in Quito, the capital city. Most of her company's products were available, except for smartphones. When she returned to work, she mentioned this observation to her international sales manager. Leah was providing the important marketing function of ((identifying opportunities to expand.)) |
| Greenbelt Construction has been a successful small home-building firm for years. The owner pays subcontractors slightly more than the usual rate for different tasks, reducing the company's gross margin. Greenbelt rarely changes subcontractors, has relatively few complaints from home buyers, and is able to get quick responses from subcontractors when buyers do have problems. Greenbelt is engaged in ((effective supply chain management. )) |
| Marketing enriches society by ((sponsoring charitable events. )) |
| A friend of yours is starting a new business. She is confident that her product is superior to her competitors' and doesn't want to budget any money for marketing. You would recommend that she rethink her position on marketing for all of the following reasons except ((Marketing isn't essential now, but it will be in a year or two when the product takes off.)) |
| When we say that marketing can be entrepreneurial, it means that entrepreneurs ((launch ventures to satisfy unfilled needs. )) |
| People who organize, operate, and assume the risk of a business venture are called ((entrepreneurs.)) |
| If a radio station holds an online contest in which you must log in to its website and submit personal details such as name, phone number, and e-mail in order to participate, the radio station is ((offering an exchange. )) |
| Which of the following is true of marketing? ((Marketing affects various stakeholders. )) |
| Traditionally, marketing activities have been divided into product, price, place, and promotion. Select the term that best describes the four Ps. ((marketing mix)) |
| Internet sites, physical stores, and kiosks are most closely associated with which element of the marketing mix? ((place)) |
| The primary purpose of the __________ plan is to specify the marketing activities for a specific period of time. ((marketing)) |
| The process of value __________, in which customers collaborate in product design, often provides additional value to the firm's customers. ((cocreation )) |
| How a product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer are all elements of ((a marketing plan.)) |
| The activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is called ((marketing. )) |
| Jeff is going to sell sporting apparel, which he has already purchased from manufacturers, and has signed a deal agreeing to the volume he will sell monthly. He has researched his competition, talked to some customers, and decided on prices he will charge. Jeff has also developed a plan for promoting his business. Based on this description, which element of the marketing mix does Jeff still need to work on? ((place)) |
| Jeff opened a sporting apparel store and signed a lease on the property. He also signed an agreement with the manufacturer on the amount of merchandise he will sell and the promotions he will conduct. Based on this description, which aspect of the marketing mix does he still need to work on? ((price)) |
| At one point in the evolution of marketing, the United States entered a buyer's market and the customer became king. Which era is being described? ((market-oriented)) |
| Which of the following is true with regard to mobile advertising? ((Within just a couple of years, mobile advertising will be a bigger market than digital advertising. )) |
| Marketing channel management is related to which of the four Ps? ((place)) |
| Marney bought a dress from a retail store. Which type of transaction was Marney participating in? ((B2C )) |
| According to your text, in the broadest terms, the "marketplace" refers to ((the world of trade.)) |
| Which element of the marketing mix is most relevant to the activity "capturing value"? ((price)) |
| Which element of the marketing mix is most relevant to the activity "delivering value"? ((place)) |
| Which element of the marketing mix is most relevant to the activity "creating value"? ((product)) |
| Which marketing activity is most directly served by the promotion element of the marketing mix? ((communicating value )) |
| Janine was tired of her winter coat, so she sold it to her friend, Marissa. This is an example of ________ marketing. ((C2C)) |
| Strong supplier relations and efficient supply chains help firms such as Walmart achieve operational excellence. ((TRUE)) |
| To build a sustainable competitive advantage, companies should focus on a single strategy. ((FALSE)) |
| It is not always necessary to go through all the steps in the marketing planning process. ((TRUE)) |
| A mission statement describes the specific actions a firm will take to achieve its goals.((FALSE)) |
| iTunes software is often credited with the success of the Apple iPod MP3 player, because it made the iPod easier to use than competing players, and was difficult for competitors to duplicate. This is an example of a sustainable competitive advantage. ((TRUE)) |
| STP refers to segmentation, testing, and promotion. ((FALSE)) |
| The components of a SWOT analysis are strengths, weaknesses, opportunities, and tactics. ((FALSE)) |
| Firms are typically more successful when they focus on opportunities that build on their strengths relative to those of their competition. ((TRUE)) |
| Duke's is a surfer-themed restaurant chain in Hawaii. Most of its customers are tourists. In a SWOT analysis for Duke's, the possibility that the recession might cut back on tourism in Hawaii would be considered a weakness.((FALSE)) |
| Price should be based on the value that the customer perceives as giving them a good value for the product they receive. ((TRUE)) |
| Geraldo manages the electrical turbine engine division of General Electric Corporation. He makes most decisions independently, without consulting headquarters. Geraldo manages a strategic business unit. ((TRUE)) |
| The strategic planning process always proceeds sequentially through the five steps. ((FALSE)) |
| Isaac is looking for ways to offer new goods and services to his existing customers. He is pursuing a market development strategy. ((FALSE)) |
| SanDisk's MP3 player product line (called the Sansa) has a low relative market share. The MP3 player market is expected to decline over the next few years. In Boston Consulting Group (BCG) portfolio analysis, the Sansa would be considered a dog. ((TRUE)) |
| The "implement marketing mix" step of the strategic marketing planning process is part of the control phase. ((FALSE)) |
| Relative market share is an example of a marketing metric. ((TRUE)) |
| Product penetration is one of the four major growth strategies. ((FALSE)) |
| If a firm wants to develop a sustainable competitive advantage, it should ((examine its operations and customer relations to identify significant things competitors cannot easily copy. )) |
| Which of the following is not one of the four overarching strategies to create and deliver value and to develop sustainable competitive advantages? ((planning excellence)) |
| When Ramona, the keynote speaker at a major business leaders' conference, arrived in the middle of the night at the Ritz-Carlton, she was exhausted and her suit was wrinkled from her 10-hour plane trip. The night clerk found someone to dry clean Ramona's suit and have it ready for her morning presentation. She has been a loyal Ritz-Carlton customer ever since. In this example, Ritz-Carlton demonstrated the macro strategy of ((customer excellence. )) |
| Amazon’s latest attempt to shore up and enhance its competitive barriers by introducing a home service marketplace that may help it achieve a lasting, powerful advantage is an example of _______________ excellence. ((customer )) |
| Some banks offer special accounts designed to attract junior high school students. These kids save in such small amounts that the accounts cost banks more to maintain than they are worth; however bankers know that consumers are creatures of habit and hope that the young people they serve now will become adult customers. These banks recognize ((the lifetime value of customers. )) |
| Nordstrom, an upscale department store, has a well-known reputation for going the extra mile to serve its customers. This reputation for excellent customer service will most likely result in ((a sustainable competitive advantage. )) |
| Firms achieve ___________ through efficient procedures and excellent supply chain management. ((operational excellence)) |
| Marketers want their firms to develop excellent supply chain management and strong supplier relations so they can((create a sustainable competitive advantage. )) |
| For many years, Southwest Airlines distinguished itself as the low-cost airline. Now, many other low-cost competitors have entered the market. Similarly, Southwest was one of the first airlines to offer online ticketing. Now, all airlines have online ticketing. These examples suggest that ((no single strategy is likely to be sufficient to build a sustainable competitive advantage. )) |
| Customers around the world know Pepsi and consider it a primary “go-to” brand if they want a refreshing drink. This positioning reflects Pepsi’s ((careful targeting and marketing mix implementation. )) |
| Carla has been directed by her regional marketing manager to cut prices on seasonal items, place an ad in the local paper, and tell distributors to reduce deliveries for the next month. Which step of the strategic marketing planning process is Carla engaged in? ((implement marketing mix and resources )) |
| When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged? ((planning)) |
| The automobile manufacturing industry closely watches annual consumer satisfaction surveys. For years, Japanese car companies consistently had the highest levels of customer satisfaction, creating a(n) ________ for these companies. ((sustainable competitive advantage )) |
| Which of the following is least likely to provide a sustainable competitive advantage? ((lowering prices)) |
| Even when large discount retailers enter a market, a few small, local retailers survive and prosper. These small retailers have probably developed a(n) ________ that allows them to survive. ((sustainable competitive advantage )) |
| As part of her company's SWOT analysis, Valerie is assessing the company's internal environment, including ((strengths and weaknesses.)) |
| Samantha is charged with assessing her company's external environment as part of a SWOT analysis. Samantha will study her company's((opportunities and threats.)) |
| Manufacturers that use just-in-time manufacturing systems coordinate closely with suppliers to ensure that materials and supplies arrive just before they are needed in the manufacturing process. While just-in-time systems can offer major advantages in terms of inventory costs, they must be carefully managed. If a firm found that its just-in-time system was badly managed, leading to frequent manufacturing delays due to missing parts, this would represent a(n) __________ in a SWOT analysis. ((weakness )) |
| For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements with other countries creates ((opportunities. )) |
| In 2006, Ford Motor Company announced it would severely cut back its automobile production. For parts companies supplying Ford its parts, this represented a(n) ((threat. )) |
| Lionel is asked to conduct an STP analysis for his firm. The first step he should perform in this analysis is to ((divide the marketplace into subgroups. )) |
| In 2006, Walmart announced that it would begin selling organic food products. In doing so, Walmart was most likely trying to ((attract a different market segment. )) |
| For years, when considering new products, marketers at Celestial Seasonings asked themselves, "What would Stacy think?" Stacy was a fictional character representing 25- to 50-year-old educated, upper-income women who rarely watched television but did a lot of reading. "Stacy" represented Celestial's primary((target market segment.)) |
| After identifying various market segments that her company could pursue, Lisa evaluated each segment's attractiveness based on size, income, and accessibility. Lisa was involved in ((target marketing. )) |
| LeBron James, Stephen Curry, and other athletes are paid huge sums of money by companies for celebrity endorsements. If endorsements by these athletes create a clear understanding among consumers of the companies' products in comparison to competing products, they can help with the firm's __________ strategy. ((positioning )) |
| __________ involves the process of defining the marketing mix variables so that target customers have a clear, distinctive understanding of what a product does or represents in comparison with competing products. ((Positioning )) |
| Imagine that you are in a convenience store choosing your favorite "comfort" food instead of being in a classroom taking this test. You might notice the packaging, colors, labels, even the fonts used on labels. All of these efforts are part of the marketer's ((positioning strategy. )) |
| When positioning products relative to competitors' offerings, firms typically are most successful when they focus on opportunities ((that build on their strengths relative to those of their competition. )) |
| Many small businesses whose competitors are national franchises advertise "we are locally owned" or "we have been here since 1951." This is part of these firms' ((positioning strategy.)) |
| Among Internet users, some do research online, some shop, some look for entertainment, and many do all three. Each of these groups would be called a((market segment. )) |
| Suppose your university made a sizable investment in its career services—additional counselors, increased efforts to bring in recruiters, and other services aimed at helping students find jobs. This investment would enhance the university's _____________ in an attempt to create value for students and recent graduates.((product value)) |
| The idea of value-based marketing requires firms to charge a price that ((captures the value customers perceive that they are receiving. )) |
| E-books, in addition to being an alternative product form, provide __________ value creation since they can be downloaded via the Internet immediately when and where they are needed. ((place)) |
| In value-based marketing, the promotion element of the four Ps communicates the ________ to customers through a variety of media. ((value proposition )) |
| When marketers use a variety of communication disciplines—advertising, personal selling, sales promotion, public relations, direct marketing, and online marketing including social media—in combination to communicate a value proposition to the customer, it is referred to as ((integrated marketing communications. )) |
| Google and other search engines allow marketers to bid to have their ads shown when consumers search keywords related to the firm's products. These marketers are attempting to create value through ((promotion.)) |
| Craig sees that his company's quarterly sales and profits are significantly above projections and says, "That's great. Let's keep doing what we've been doing." Craig is ignoring the __________ step of the marketing planning process. ((evaluate performance )) |
| The first objective in the evaluate performance phase of the marketing planning process is to ((review implementation programs and results using metrics. )) |
| As it pertains to the marketing plan, understanding the causes of performance, regardless of whether that performance exceeded, met, or fell below the firm's goals ((enables firms to make appropriate adjustments. )) |
| A regional manager at GNC, a chain of retail stores selling nutritional supplements, is reviewing sales data after a recent in-store promotion. The data show success in some stores and limited response in others. To understand the differences between stores, the manager will probably next review the company's ((implementation programs, to see if the promotion was handled consistently in the different stores. )) |
| After conducting STP analysis for her custom auto parts store and developing strategies for each of the four Ps, Monique now has to make _____________ decisions. ((resource allocation )) |
| Lamar owns four dry cleaning stores in the suburbs of Orlando, Florida. He recently updated his STP analysis, and has just finished adjusting his marketing mix based on the STP results. His next strategic marketing decision will most likely involve determining ((how to allocate resources among his four stores. )) |
| In most companies, portfolio management is typically done at the SBU or ___________ level of the firm. ((product line)) |
| A(n) ___________ is a group of products that consumers may use together or perceive as similar in some way. ((product line)) |
| Heather has been assessing several of her firm's products using the Boston Consulting Group (BCG) approach to portfolio analysis. She has been trying to assess the strength in a particular market and is looking at the sales of the product and the overall market as well as the sales of competitors. Heather is trying to determine((the product's relative market share. )) |
| To determine how attractive a particular market is using the BCG portfolio analysis, __________ is(are) established as the vertical axis. ((market growth rate )) |
| In BCG portfolio analysis, products in low-growth markets that have received heavy investment and now have excess funds available to support other products are called ((cash cows.)) |
| Fernando was thrilled to find out that his company had just decided to invest a great deal of money in the product he was managing. He knows that even with its recent high rate of growth and the fact that it dominates its market, he would need more money to establish it firmly. Using the BCG portfolio analysis, his product would be classified as a(n) ((star)) |
| Using the BCG portfolio analysis, a "dog" should be phased out unless ((it complements or boosts the sales of another product. )) |
| The strategic marketing planning process ((is not always sequential.)) |
| Which of the following is not one of the four major growth strategies marketers typically utilize? ((segment development )) |
| Adrienne decides to add new sales representatives and increase advertising to increase sales in her existing market for her current line of security systems. Adrienne is pursuing a __________ growth strategy. ((market penetration)) |
| A __________ growth strategy employs the existing marketing offering to reach new market segments. ((market development)) |
| Quitman Enterprises sells its business language dictionary to college students throughout the United States. Joseph Quitman, the owner, wants to start selling the book to international students abroad. Quitman wants to pursue a __________________ growth strategy. ((market development)) |
| When Marvel launched several successful series on Netflix, including , , , and , it employed a ___________ strategy. ((product development)) |
| H&R is a small, local heating and air conditioning business. The local military base is a potential source of growth, and H&R already installs and services the type of equipment the military would require, but it is difficult to get established as a certified government contractor. H&R is considering a ____________ growth strategy. ((market development)) |
| Many states create licensing requirements for a variety of professionals (such as lawyers and accountants) designed to restrict entry into their market by professionals from other states. This strategy limits ____________ growth strategies. ((market development)) |
| Marketers who design and offer new products and services to their existing customers are pursuing a ____________________ growth strategy. ((product development)) |
| Most banks now have customer relationship software that, when a customer contacts the bank, tells the service representative what types of accounts, loans, and credit cards the customer currently has. Service representatives use this information to sell some of the other services the bank currently offers to these customers. This is a ___________________ growth strategy. ((market penetration)) |
| Maryam phoned her auto insurance agent to renew her policy. The agent told her about new types of insurance now available—to cover her apartment, or even the engagement ring she just got from her fiancé. The agent was pursuing a ________________ growth strategy. ((product development )) |
| Introducing newly developed products or services to a market segment the company is not currently serving is called ((diversification. )) |
| Zara is a women's clothing retailer headquartered in Spain, with stores located in many countries. Zara has developed a "quick response" system that allows store merchandise to be adjusted rapidly to fit changing customer preferences. Every aspect of Zara's operation is optimized for this system, making it difficult for competitors like The Gap to duplicate. Zara has established ((a sustainable competitive advantage. )) |
| Fourteenth National Bank prides itself on offering better service than any of its competitors. If this is accurate, and if customers recognize and value Fourteenth National's superior service, the bank creates and delivers value through ((customer excellence.)) |
| Anita has gone to the same hair salon for the past ten years. She believes that her stylist, the salon owner, does a better job of cutting and styling her hair than anyone else could. Other salons have opened closer to Anita's home, some offering more plush facilities or lower prices, but she isn't tempted to switch. Anita's attitude toward the salon is an example of ((customer loyalty.)) |
| Customer retention programs are based on what concept? ((Customer relationships should be viewed from a lifetime value perspective rather than on a transaction-by-transaction basis. )) |
| Most banks implement customer retention programs aimed at their best customers. They do this because they know that retaining customers usually results in((increased long-term profits. )) |
| Some universities offer online degree programs, competing with traditional colleges based on the convenience of taking online courses. These online programs are most likely pursuing which macro strategy? ((locational excellence)) |
| When a pharmaceutical company develops a new medication, it typically applies for a patent in order to prevent competitors from developing copycat products for several years. Pharmaceutical companies apply for patents to establish ((a sustainable competitive advantage. )) |
| One example of a customer loyalty program is ((a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases. )) |
| Which of the following is the third step in the marketing planning process?((identify and evaluate opportunities)) |
| In mid-2010, Hewlett-Packard Company (HP) acquired Palm Computing Inc., a manufacturer of personal devices and smartphones. Before deciding to acquire the company, strategic planners at HP spent time thinking about how Palm and HP would "fit" together, and how the acquisition might change HP's core goals and objectives. The strategic planners were engaged in the ____________ step of the marketing planning process. ((define the business mission)) |
| After defining the business mission, what should a firm do next to develop a marketing plan? ((perform a situation analysis )) |
| In a SWOT analysis, increasing gasoline prices would represent a potential __________ for manufacturers of electric cars. ((opportunity)) |
| A former advertising campaign for GEICO Insurance used the slogan "So easy, even a caveman could do it" to emphasize the ease of buying insurance on GEICO's website. This campaign was part of GEICO's ((positioning strategy.)) |
| Abercrombie & Fitch, a clothing retailer, includes a "SHARE" link on the product pages of its website. This link encourages an Abercrombie customer to post a link (perhaps showing a new style of jeans) on Facebook or Twitter. Abercrombie & Fitch hopes that the customer's friends (who are probably very much like current customers) will click the link, visit the page, and make purchases. This is an example of a __________ growth strategy. ((market penetration )) |
| Sodexo is a corporation that manages school cafeterias, university dining halls, mess halls at military bases, concession stands at sports arenas, and other large-scale food service facilities. If Sodexo were to begin to sell individual frozen meals in supermarkets, it would be pursuing a __________ growth strategy. ((diversification)) |
| Singapore Airlines seeks to differentiate itself from competing airlines, in part through innovative design of its airplane seats and in-flight entertainment systems. Through continuous innovation in these areas, Singapore Airlines is pursuing a(n) __________ macro strategy. ((product excellence)) |
| 3M involves its customers in the process of developing new products. In this way, it can benefit from current customers' insights and develop new products that will meet these customers' needs. 3M is pursuing a __________ growth strategy. ((product development )) |
| Over the last few months, Juan and his colleagues have analyzed the current business situation and identified target markets for his firm's personal care products. Finally, they developed the products, prices, distribution, and promotion that should appeal to each of those target markets. In doing so, Juan has also identified what he believes is an advantage his competitors cannot match. Juan and his colleagues have been developing ((a marketing strategy. )) |
| Gerald's Tire Store sets itself apart from competitors by the extra attention it pays to retaining loyal customers by providing fast, courteous service in a clean, professional-looking environment. Gerald's has used this strategy for over 40 years, expanding to 15 outlets. Gerald's Tire Store has created a ___________ macro strategy to create and deliver value and to develop a sustainable competitive advantage. ((customer excellence)) |
| Which of the following is the best way to build a sustainable competitive advantage using product excellence? ((positioning the product using a clear, distinctive brand image )) |
| A competitive advantage based on location is often sustainable because ((it is not easily duplicated. )) |
| Four companies dominate the cereal industry. These firms produce in large volumes, promote heavily, and control access to the supermarket shelves through "slotting allowances," which are payments to retailers in return for shelf space. Combined, these four firms have ((a sustainable competitive advantage.)) |
| Value creation through place decisions for a consumer product involves ((making sure the product is available in the stores where customers will want to find it, and that it is always in stock so they can buy it when they want to. )) |
| In recent years, cellular (mobile) service providers have worked hard to eliminate "dead zones," providing customers with service wherever they traveled. By working to make the network available in more locations, cellular service companies were focusing on __________ value creation.((place)) |
| When firms successfully implement poor strategies (perhaps due to good luck) or do a poor job of implementing good strategies, it can be difficult to ((evaluate performance and make adjustments.)) |
| In 2007, Apple Computer introduced its new iPhone, adding a cellular telephone, a camera, and Internet access to its iPod. The company was pursuing a(n) __________ strategy. ((product development)) |
| Allen is in the marketing department of a midsized firm that develops and sells communications systems. He is proud of the human resource area in the company that provides the firm with excellent employees. Allen himself really enjoys his work, but he knows the work of HR helps create an operational advantage for the firm because of all the following except ((the company provides products with a high perceived value.)) |
| Which of the following actions would be the most likely to support and enhance an operational excellence macro strategy? ((3M Corporation implementing new software to improve communication with its suppliers )) |
| Which of the following factors, listed in a situation analysis for a major U.S. auto manufacturer, is the best example of a threat? ((A New York law firm has filed a $10 million class action suit against the company on behalf of car owners whose gas tanks exploded. )) |
| Which of the following factors, listed in a situation analysis for a major U.S. auto manufacturer, is the best example of an opportunity? ((Recent consumer studies have indicated that Chinese consumers prefer American cars. )) |
| The global athletic footwear market is expected to experience only very slow growth over the next several years. Nike is the market leader. According to Boston Consulting Group portfolio analysis, how should Nike treat its athletic shoe business? ((Nike's athletic shoe business still requires some investment, but it is likely to produce excess resources that can be invested in other divisions of the company. )) |
| Subway is a large chain of franchise sandwich shops. Marcia owns three Subway stores in a large city. At the end of the year, she notes that sales rose from 2 to 5 percent over last year's sales at Stores 1 and 2, but fell 2 percent at Store 3. Based on this information, which of the following is the best course of action as to how Marcia should reward (or punish) her store managers?((She should seek more information about why the stores had different results before making a decision.)) |
| Coca-Cola sells two different zero-calorie versions of Coke: Diet Coke and Coke Zero. It has chosen to attempt to appeal to men with Coke Zero. In addition to launching an ad campaign featuring men enjoying Coke Zero, Coca-Cola also designed a masculine-looking can for Coke Zero, with bold red lettering on a black background. This specially designed can is an example of ((positioning. )) |
| Delta Airlines is among the companies experimenting with selling products and services on their Facebook pages. The idea is to make purchasing even easier for customers who may spend large portions of the day with Facebook active on their computers or mobile devices. There is no need even to navigate to Delta's website—users can book a trip in Delta's "Ticket Agent" application without ever leaving Facebook. Which element of the marketing mix does this represent? ((place and value delivery )) |
| Because it was able to deliver merchandise overnight, in the required quantities and at a lower delivered cost than its competitors, Joe's Sports Shack was given exclusive rights to sell clothing with school logos for the school district. Joe's demonstrates ________ excellence. ((operational )) |
| During which phase of the marketing planning process does a firm engage in segmentation, targeting, and positioning? ((identify and evaluate opportunities phase )) |
| During a SWOT analysis, a company should assess the opportunities and uncertainties of the marketplace due to changes in several factors, given the acronym CDSTEP. Which of the following is not one of these factors? ((ethical)) |
| The process of dividing the market into groups of customers with different needs, wants, or characteristics is called ((market segmentation.)) |
| ________ involves the process of defining the marketing mix variables so that target customers have a clear, distinctive, desirable understanding of what the product does or represents in comparison with competing products. ((Market positioning )) |
| All of the following statements regarding marketing metrics are true except ((they cannot be used to project the future.)) |
| A product that is in a high-growth market but has a low market share would be classified as a ________ on the BCG matrix. ((question mark)) |
| By paying close attention to customer needs and continuously monitoring the business environment in which it operates, a good marketer can identify potential opportunities. ((TRUE)) |
| When analyzing the immediate environment and the macroenvironment, marketers must be careful to keep the firm at the center of all analyses. ((FALSE)) |
| The marketing firm must consider the entire business process, all from a consumer’s point of view. ((TRUE)) |
| In the immediate environment, the competition has no effect on consumers. ((FALSE)) |
| The three elements of the consumer's immediate environment are the company, competition, and corporate partners. ((TRUE)) |
| Demographics are transmitted by words, literature, and institutions from generation to generation. ((FALSE)) |
| Demographic profiles of customers provide an easily understood "snapshot" of the typical consumer in a specific target market. ((TRUE)) |
| As the euro becomes more expensive relative to the dollar, Americans are likely to purchase more European wines. ((FALSE)) |
| Macroenvironmental factors include the company, competition, and corporate partners. ((FALSE)) |
| Members of Generation Y are also called Millennials. ((TRUE)) |
| As the children of the Baby Boomers, Generation X is the biggest cohort since the original postwar World War II boom. ((FALSE)) |
| The members of Generation X are also referred to as Digital Natives. ((FALSE)) |
| One of the social trends discussed in the text that is shaping consumer values in the United States and around the world is a concern about the vast disparity in income. ((FALSE)) |
| Culture can broadly be defined as the shared meanings, beliefs, morals, values, and customs of a group of people. ((TRUE)) |
| Companies such as Burger King no longer use cartoon characters to promote products such as burgers and fries because the characters do not retain popularity among young children for very long. ((FALSE)) |
| Socially responsible marketing involves a strategic effort by firms to supply customers with environmentally friendly, sustainable merchandise and services. ((FALSE)) |
| Firms that disingenuously market products or services as environmentally friendly, with the goal of gaining public approval and sales rather than actually improving the environment, are engaging in greenwashing. ((TRUE)) |
| The next broad wave of mobile applications is likely to expand the use of wireless payments through applications such as Apple Pay, Google Wallet, Master Card’s Easy Pay, and Softcard Mobile Wallet, all of which enable customers’ phones to serve as m-wallets. ((TRUE)) |
| Inflation refers to the cost of borrowing money. ((FALSE)) |
| The 1890 Sherman Antitrust Act prohibits monopolies and other activities that would restrain trade or competition and makes fair trade within a free market a national goal. ((TRUE)) |
| Consumers’ needs and wants, as well as their ability to purchase, depend on a host of factors that remain consistent over time. ((FALSE)) |
| Parties that work with the focal firm are its corporate partners. ((TRUE)) |
| Jeanne, who lives in Boston, refers to Pepsi as "tonic," while Paul, who lives in Chicago, calls it "pop." This is an example of a regional culture difference.((TRUE)) |
| Lisle Hair Company keeps track of the gender and age of its customers so it can target e-mails to them and be sure to have the right hair products in stock when they visit. This is an example of the use of demographics in marketing. ((TRUE)) |
| Applying age as a basis to identify customers is unethical, as it involves stereotyping. ((FALSE)) |
| As a retail clothing store manager, Randy frequently asks his staff what customers are saying and what they are asking for. He also attends the quarterly clothing show at the regional merchandise mart. Randy's efforts will likely help him ((identify potential opportunities. )) |
| The centerpiece of the marketing environment analysis framework is ((consumers.)) |
| A firm's macroenvironment includes all of the following except ((competition. )) |
| The center of all marketing efforts is ((the consumer. )) |
| The creation of CVS Health's mobile apps in connection with its onsite MinuteClinics is a response to a _________ trend that surrounds health and wellness concerns. ((social)) |
| One of the goals of value-based marketing is ((to offer greater value than competitors offer. )) |
| Ryan knows that one of the goals of value-based marketing is to provide greater value to consumers than competitors offer. To accomplish this goal, Ryan's firm must look at everything it does ((from a consumer's point of view. )) |
| Yvonne knows her firm must look at everything it does from a consumer's point of view. One major difficulty is that consumers' __________ change(s) over time. ((needs, wants, and ability to purchase )) |
| Select the statement that best describes the key traits of Generation Y. ((This generation varies the most in age, ranging from teenagers to adults who have their own families. )) |
| Which of the following statements accurately describes the current income distribution in the United States? ((Wealthy households are outpacing both poor and middle-class households. )) |
| When you register your telephone number with the National Do Not Call Registry, you are responding to a need for ((privacy.)) |
| In the immediate marketing environment, the first factor that affects the consumer is ((the firm itself. )) |
| Successful firms focus their efforts on satisfying customer needs that ((match their core competencies.)) |
| The Mayo Clinic in Minnesota is known for top-quality medical care. For decades, even presidents and dictators from around the world flew to the Mayo Clinic to utilize its services. The Mayo Clinic used its reputation to create additional medical facilities in Jacksonville, Florida, and elsewhere. This is an example of a firm focusing its efforts on satisfying customer needs that ((match its core competencies.)) |
| Yuri is considering a new promotional campaign in which he will compare his products to those of his competitors. Before initiating the promotional campaign, Yuri will assess his competitors' strengths, weaknesses, and ((likely response to his promotional activities. )) |
| The firms that work along with the focal firm to provide goods and services to consumers are viewed as ((corporate partners. )) |
| Yellow Trucking provides transportation services for Dan's Delicious Donuts so that Dan's stores always have fresh stock. Yellow Trucking is an example of a ((corporate partner. )) |
| The difference between a firm's immediate marketing environment and its macroenvironment is that the macroenvironment ((is external. )) |
| The shared meanings, beliefs, morals, values, and customs of a group of people constitute their ((culture. )) |
| Political candidates are notorious for appealing to the different beliefs and values of groups of potential voters in different areas of the country. These politicians are appealing to differences in ((regional culture.)) |
| Insight Guides, a line of travel books, provides travelers with background information about people's beliefs, values, and customs in various parts of the world. Insight's books educate travelers about a country's ((culture.)) |
| When studying culture, the challenge for marketers is to determine whether culture ((can help identify a particular group that might be interested in the marketer's products. )) |
| Late in the day on September 11, 2001, the day of the World Trade Center attacks, Americans purchased all the American flags Walmart stores had available, nationwide. These purchases were indicative of ((country culture. )) |
| The United States has often been called the "melting pot" society, integrating people from many different cultures into the social fabric of the country. The challenge for marketers is to determine whether a group's culture ((can be used as a relevant identifier for a particular target group. )) |
| When considering the use of a radio commercial in England that was designed for U.S. markets, a marketer would likely need to consider which of the following aspects of culture that might be different between the two countries? ((language )) |
| In New England, foot-long sandwiches are called "grinders," while in many other parts of the country they are called "subs." This is an example of the impact of ((regional culture. )) |
| The shift of population from the Rust Belt in the North to the Sun Belt in the South and Southwest will likely ((reduce regional cultural differences. )) |
| Typical demographic data include all of the following except ((language differences.)) |
| When marketers look at advertising media they often begin with viewer or listener profiles such as age, income, gender, and race. They then compare the media profile with their target audience. These marketers are using __________ to see if the media "fit" with their advertising agenda. ((demographics )) |
| Generational cohorts are groups of people of the same generation who have similar __________ because they have shared experiences and are in the same stage of life.((purchase behaviors)) |
| Viewers of the World Series are likely to see ads for beer and cars, and viewers of the Academy Awards broadcast are likely to see ads for clothing and hair care products, due to ((differing demographic data for potential and past viewers. )) |
| ________ is distinguished from the other generational cohorts in that the group's oldest members are now collecting Social Security. ((Baby Boomers)) |
| Marketers wanting to use social media to reach consumers should understand that people in the _______ group were born into a world that was already full of electronic gadgets and digital technologies such as the Internet and social networks. ((Generation Z)) |
| The first "latchkey" children belong to which generational cohort? ((Generation X )) |
| According to your text, the wealthiest 1 percent of the population control approximately what percentage of Americans' total net worth? ((34.6 percent )) |
| ABC Company knew that its customers were interested in environmentally friendly business practices, so it began marking all of its products as environmentally friendly because they were made with all-natural ingredients, even though ABC's plant was one of the worst polluters in town. The term for this practice is ((greenwashing.)) |
| When considering income as a demographic variable affecting marketing efforts, marketers need to recognize that ((income in the United States has become more unevenly distributed. )) |
| Astute marketers recognize that the increasing disparity of income between upper- and lower-income groups ((creates opportunities to provide value to each group. )) |
| Population estimates show that by the year 2050, nearly 30 percent of the population in the United States will come from which group? ((Hispanics )) |
| For some products, marketers can combine education level with other data like occupation and income to obtain ((accurate predictions of purchase behavior.)) |
| Marketers know that, compared to high school graduates who are working full time, college students ((spend their disposable dollars differently. )) |
| Which of the following is true regarding modern gender roles? ((Gender roles have been blurred in the past several years. )) |
| The results of the 2010 census suggest what about the 42 million African American U.S. households? ((They are more affluent and suburban. )) |
| Marketers in the United States are paying increasing attention to ethnic groups because ((approximately 80 percent of all population growth in the next 20 years is expected to come from minority groups.)) |
| Marketers are more likely to find higher concentrations of foreign-born Americans and recent immigrants in ((New York, Los Angeles, San Francisco, and Chicago. )) |
| Though Asian Americans comprise only about 5.6 percent of the U.S. population, they represent ((the fastest-growing minority population.)) |
| Strategic efforts to supply consumers with environmentally friendly merchandise are called ((green marketing. )) |
| By offering environmentally responsible products, green marketers ((add value that other products do not have. )) |
| Many American consumers are purchasing hybrid automobiles even though they are more expensive than conventional compact cars. These consumers ((value contributing to a greener environment. )) |
| Every time a consumer surfs the web and clicks on a site, online marketers can place _____ on that user's computer, showing them where the user starts, proceeds, and ends the online encounter—as well as what the user buys and doesn’t buy. ((cookies)) |
| What retailer, in 2013, suffered a massive security breach that allowed hackers to steal credit and debit card information for millions of customers? ((Target)) |
| What technological advancement enables a firm to track an item from the moment it was manufactured, through the distribution system, to the retail store, and into the hands of the final consumer? ((RFID tags )) |
| An advance in technology called RFID makes it easier for manufacturers, distributors, and retailers to track items through production, distribution, and sales. This advance helps the firm ((meet inventory needs.)) |
| When marketers monitor the economic situation affecting their target markets, they are likely to monitor changes in all of the following except ((age.)) |
| If the inflation rate in Mexico was twice the rate in the United States, but the Mexican monetary authorities kept the peso-dollar exchange rate almost constant, which of the following would be true? ((Mexican products would be more expensive, while U.S.-made products would become comparatively less expensive. )) |
| Laws that prohibit the formation of monopolies or alliances that would damage a competitive marketplace benefit consumers through ((increased choices. )) |
| Which of the following groups has never lived without easy access to the Internet and other digital technologies? ((Generation Z)) |
| Which of these is a macroenvironmental factor? ((culture )) |
| When Kimberly-Clark introduced rolls of toilet paper without the cardboard core, what social trend did this product respond to? ((green marketing )) |
| If McDonald's wanted to change its marketing strategy in response to the social trends outlined in the text, it might consider all of the following ideas except ((creating an advertising campaign targeting elementary schoolchildren.)) |
| Suppose that you are the vice president of marketing for Target, the large retail store chain. You want to keep your website and in-store services current with technological advances. You might consider experimenting with what is most likely the next expected development in mobile technology, which is ((wireless payments from mobile devices. )) |
| Some companies have been accused of taking advantage of the current social trend of green marketing, positioning their products as environmentally friendly when this may not actually be the case. This is called ((greenwashing.)) |
| Part of the social trend toward health and wellness is a concern about the increasing degree of obesity in the United States. Related to this, the text notes the increasing popularity of ((yoga.)) |
| The political/regulatory environment comprises political parties, governmental organizations, and ((legislation and laws.)) |
| Christy, a marketing executive who was born in 1955, advocated that her company focus on a print campaign for its new line of lipsticks rather than spending money on online ads. This point of view may be attributed to the fact that she is a member of which generational cohort? ((Baby Boomer )) |
| Which generation's members are also known as Millennials? ((Gen Y)) |
| The poorest 10 percent of the U.S. population earned less than _______ per week in 2014. (($412 )) |
| Which statement about the changing ethnicity in the United States is true? ((African American U.S. households are more affluent than previous studies suggested. )) |
| According to the text, 14 cable companies agreed to provide low-cost Internet access to impoverished families for all of the following reasons except ((increased income from a larger number of subscribers. )) |
| The government has enacted laws that promote both fair trade and competition by prohibiting the formation of monopolies or alliances that would damage a competitive marketplace, fostering fair pricing practices for all suppliers and consumers. These actions are part of the ________ environment of business. ((political/regulatory)) |
| Which of the following specifically prohibits monopolies? ((Sherman Antitrust Act)) |
| What is most likely to happen when inflation increases? ((Consumers buy lower-priced foods. )) |
| ________ is the cost to the customers or the fee the bank charges those customers for borrowing money. ((Interest)) |
| In the summer of 2002 the euro was valued at slightly less than US$1. By 2008, it had risen to an all-time high of $1.60, but in early 2016, the euro and the dollar were nearly equivalent. This change in value is called ((foreign currency fluctuations.)) |
| When Diana went to college, tuition was $650 per semester. Now that same college charges $6,500 per semester. This number reflects a persistent increase in price known as ((inflation. )) |
| From a firm's perspective, the biggest advantage of RFID is ((it enables the firm to track an item from the moment it was manufactured. )) |
| Which of the following is an example of greenwashing? ((A company donates money to a school reading project so it can advertise itself as environmentally friendly. )) |
| Nearly what percentage of U.S. adults now recycle their soda bottles and newspapers? ((50 percent)) |
| Which of the following is a social trend listed in the text? ((health and wellness)) |
| Which ethnic group in the United States tends to earn more, have more schooling, and be more likely to be professionally employed or own a business?((Asian American)) |
| Which ethnic group tends to be not only more affluent and suburban than previously thought, but also younger, with 47 percent between the ages of 18 and 49 years? ((African American)) |
| A generational cohort is a group of people((who are of the same generation. )) |
| A product is anything that is of value to a consumer and can be offered through a voluntary marketing exchange.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Effective packaging and labels send consumers the signal "Buy me!"((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A company's product line consists of its various product mixes.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Brands enable customers to quickly differentiate one firm or product from another.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Brand equity is calculated by subtracting sales of generic brands from the sales of branded items in a category.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The more familiar customers are with a brand, the harder their decision-making process will be.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Harold is a loyal Coca-Cola customer. Loyal customers like Harold require lower marketing expenditures, benefiting businesses like Coca-Cola.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Private-label brands are imitations often sold by street vendors.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| For a company like Pepsi-Cola, brand dilution occurs when it sells more product than the competition.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| In entertainment licensing, the major risk to licensees is that the brand will become overexposed.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A product label is just a required sticker on a package.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When purchasing a mobile phone, the product you are buying is more than just the phone.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A customized carved cedar wood sign for your house is an example of a convenience product.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| For the average college student, a retirement account would be a shopping product.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Kellogg's sells many different breakfast cereals, including Corn Flakes, Rice Krispies, Frosted Flakes, Raisin Bran, and Special K. This is an example of the breadth of the Kellogg's product mix.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| If Microsoft decided to sell mobile phones under the Xbox brand (which it uses for its gaming systems), this would be an example of a line extension.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Sales of private-label brands continue to increase, particularly in big-box stores such as Costco and Trader Joe's.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When Jaclyn selects a case of Sprite at the grocery store for her party, she is attracted by the holiday-themed box featuring green and white bells. What Jaclyn is seeing is referred to as the secondary package.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Jenny traded in her old car for her heart's desire, a new Lexus sedan. The Lexus is considered a specialty product.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Nike sells shoes, clothing, and athletic gear. These represent the breadth of Nike's products.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A decrease in a company's product depth will always hurt its marketing efforts.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A familiar brand name always helps the sales of a product.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Claire always liked Lands' End raincoats, so when she was shopping for a winter coat, she ordered one from Lands' End without thinking too much about it. This demonstrates how brands facilitate purchases.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Brands are assets that can be legally protected through trademarks.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When Mars manufactures M&M’s, Snickers, and other confectionary products, or when Trek designs bicycles, each company’s core question is: How do we produce this product in the least expensive manner?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A product is __________ that can be offered through a voluntary marketing exchange.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The complete set of all products offered by a firm is called its((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A __________ is a group of associated items that consumers tend to use together or think of as part of a group of similar products.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| For a major university, undergraduate studies, graduate studies, and professional programs would be __________ within the university's product mix.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| It is almost impossible to watch a sporting event on television without seeing Nike's "swoosh" check mark, which is Nike's((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| In 2015, Nike signed an 8-year, $1 billion apparel deal with the NBA. This is an example of a deal for _______ rights.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Zappos is a successful online shoe company. One of the difficulties in running a shoe company is the need to have significant __________, a large number of items in each product line.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Marketers with successful brands sometimes hesitate to expand their brands because((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| All of the following scenarios illustrate a reason why a firm would eliminate an item within a product line except((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| For many years, General Electric had a corporate strategy of being among the top three firms in any market in which it operated; if it could not achieve a top-three position, it would exit the market. This strategy often resulted in the company __________ when certain product lines failed to meet this expectation.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The decision to delete a product is never taken lightly because, generally, manufacturers((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A university that has separate graduate and undergraduate admission offices recognizes that these are distinct((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| One important purpose of a brand is to((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| In addition to extensive online and outdoor advertising, Under Armour has intensified its ______ efforts by signing Washington Nationals baseball star Bryce Harper to the biggest endorsement deal for an MLB player.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| For a brand name to be effective, it needs to be((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| One key feature of the value of a strong brand is that((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When consumers associate a brand with a certain level of quality and familiar attributes, allowing consumers to make quick decisions, the brand((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Parents of young children have been known to drive out of their way so their kids will not see McDonald's Golden Arches and plead with their parents to stop. For McDonald's, the Golden Arches reduce marketing costs because people (including young children)((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Firms that use the same brand name for new products can spend relatively less on marketing costs for the new product because((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The XYZ car manufacturing company is advertising its new hybrid vehicle. It understands that its competition, Toyota's hybrid car, the Prius, is known for being economical, a good value, stylish, and good for the environment. Toyota has the advantage of((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When Amanda shops for lipstick, she always buys Really Red by Cover Girl. This is an example of((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The value of a brand is often calculated by assessing the((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Marketing expenditures allocated carefully can result in greater brand recognition, awareness, perceived value, and consumer loyalty for the brand, which all enhance the brand’s((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The Doritos advertising effort of "Live Mas," which is Spanish for "Live More," is meant to suggest a lifestyle aspiration. If consumers make a connection between the Doritos brand and this promotional effort, then Doritos has created((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Firms spend millions of dollars annually to build brand equity, recognizing that brand equity contributes to((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| All of the following are included in the main criteria used for determining how "good" a brand is, or how much equity it has except((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| If many consumers in the marketplace are familiar with a brand and what it stands for and have an opinion about the brand, the brand has considerable((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Whether they like them or not, most U.S. automobile customers are familiar with and have an opinion about American-made cars. This familiarity makes it easier for consumers to((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Sometimes brand names become synonymous with a product itself. If that happens, the brand((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| In the case of Band-Aid adhesive bandages, the brand name has((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Salina is working to create greater brand awareness for her company's new line of fitness trackers. To increase brand awareness, the least important information that should be included in promotions is((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Why would a firm spend over $2 million for a 30-second ad on television during the Super Bowl?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Relatively few consumers like to go to the dentist. Dental insurance plans that pay for regular checkups increase the __________ of dental care by reducing the cost to the consumer.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| In a competitive market, perceived value is determined by consumers mostly((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Nora is deciding whether to purchase brand-name sneakers or a less expensive store brand. She has purchased other shoes with the same brand name in the past but was only marginally satisfied. In this situation, Nora is likely to purchase the store-brand sneakers because they offer((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Matt was passionate about Hollister. It was the only place he'd buy his clothes. If anyone asked him about clothes, he would talk for what seemed like hours about why he only shopped there. From a strictly marketing perspective, this word of mouth is an element of((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Jenna always buys Stacy's brand pita chips. She does not even consider alternatives. Jenna is a __________ customer.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| All of the following statements regarding brand loyalty are true((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| For marketers, one of the benefits of having achieved brand loyalty is((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| For luxury carmakers, the lowest-end models in their product lines often represent only a small portion of their sales. Yet these models are critically important when it comes to attracting new customers and, potentially, establishing their lifelong((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Imagine that you are the marketing manager of a hotel chain that wants to implement a customer reward and loyalty program. You research the firm Sabre Hospitality Solutions, which offers its services to global and boutique hotel chains to develop and execute these types of programs. Sabre Hospitality Solutions is a company that focuses on((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Frequent buyer/user award programs are used to((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A tablet programmed with key customers' birthdates, wine preferences, and food allergies is a(n) __________ tool.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Brands can be owned by((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Adidas, Pepsi, Kitchen-Aid, and Sony are considered famous ________ brands because they are owned and managed by the manufacturer.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Which of the following is the best example of a family brand?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The basic reason manufacturers spend time and money building their own brands is to((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Procter & Gamble is a huge national brand manufacturer. By owning its brands like Tide and Crest, P&G((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Brands that are owned by ___________ are called private-label brands.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| ________ is another term for private-label brands.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Private-label brands are developed and managed by((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Consumers might not realize that Old Spice health and wellness products and Iams pet nutrition products are made by the same company—Procter & Gamble. Old Spice and Iams are known as((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When Procter & Gamble added teeth-whitening products under the Crest brand, the firm was engaged in((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Why is brand extension a popular marketing strategy?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| All of the following are potential benefits of brand extension except((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| One of the categories of products for which brand extension is especially logical is((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Jake developed a toothpaste using only natural ingredients, and he has been quite successful selling the product in health food stores and some grocery stores. He has recently developed a toothbrush using bamboo and natural components. Jake is considering a __________, giving the toothbrush the same brand name as the toothpaste in order to create greater brand awareness.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Ferrari is well known as a brand of luxury sports cars; accordingly, it has leveraged its brand name to introduce clothing offerings emblazoned with its horse logo. It has also licensed its logo to 68 different products, from sunglasses to guitars. Ferrari might be at risk of which of the following?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Marco tried a new fruit-flavored beverage and thought it was awful. He was especially disappointed because he had liked the dried fruit snacks marketed under the same brand name. Now he wasn't sure he even wanted to buy the snacks he had liked before. This highlights a problem in branding known as((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Harley Davidson’s cake decorating kit tried to appeal to the brand’s unparalleled consumer loyalty, but it was considered too tame by their consumer base. This is an example of((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A _______ refers to the use of the same brand in a different product line.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Marketers with luxury brands use brand extension cautiously in order to avoid((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Shell MasterCard, created cooperatively by Shell Oil Company and MasterCard, is an example of((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Efforts to change a brand's focus to target new markets or change the image of a brand are called((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When Disney flooded retail stores with products based on its movie, this illustrated((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Ella had been using an imported brand of shampoo for several years, but she could no longer find it anywhere. As she was considering what kind of shampoo to try, she was surprised to see ads for Procter & Gamble's Head and Shoulders being promoted as a glamorous health-oriented product. She had always thought of Head & Shoulders as an antidandruff shampoo. The new ads suggest that Head & Shoulders has most likely been((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| All of the following statements regarding secondary packaging are true except((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A __________ package is the one a consumer uses. A __________ package is used by retailers to display and sell the product.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| All of the following are considered an important function of labels on products and packages except((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| What U.S. government agency has the primary responsibility in reviewing food and package labels to ensure claims made by the manufacturer about the product are true?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Kendra is taking a backpacking trip across Europe. She wants to make sure that the backpack she chooses is the best one for her adventure, so she is spending a considerable amount of time comparing alternatives to make sure she selects the best one. For Kendra, this backpack represents what type of product?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Zappos, an online shoe company, knows shoes are typically a(n) __________ good, with consumers often spending time comparing alternatives. It overcomes that aspect of consumers' search process by offering a free, no-questions-asked return policy.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Marketers selling milk, bread, and other consumer staples know that most customers do not spend much time searching or comparing alternatives. For most consumers, these are _____________ goods.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Andy likes gourmet popcorn, and will spend time trying to find his favorite brand. His girlfriend, Joanne, loves popcorn but doesn't care about brands. For Andy, popcorn is a __________ good while for Joanne it is a __________ good.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Marketers need to think about the product offer on three levels. Which of the following levels includes associated services such as warranties, financing, support, and after-sale service?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| All of the following are considered part of the "actual product" level of the product offer except((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When manufacturers try to understand what customers are looking for, they are thinking about the _______ component of the product offer.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Suppose that Walgreens (a major drug store chain) wants to introduce its own brand of cough medicine that is similar in contents and packaging to a national brand, but at a lower cost. What kind of brand would Walgreens be introducing?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When a company launches a new product line with an existing brand name, this is known as((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Which of the following brand strategies is being used when the local ice cream shop decides to add a new flavor to its menu?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When a restaurant chain, Big Burgers, launches its own brand of frozen meals, this is an example of a((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Which of the following best describes when Johnson & Johnson introduces a travel-sized package for its existing baby oil product?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| What aspect of the product is being described when a used-car salesperson explains that each car comes with a one-year extended warranty and a two-year maintenance plan?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Some credit cards provide free liability insurance, funded by the bank issuing the card, when a customer pays for a rental car using the card. This extra insurance is an example of((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When a salesperson calls you to sell a cemetery plot, this is most likely what type of product?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Where on a product's packaging would one most likely find nutrient content and country of origin?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Returnable packaging, use of 3D printing, and flexible packaging are examples of((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When Kraft's Philadelphia cream cheese changed its packaging from round to oval to ensure front-facing displays that can’t spin and to fit more into the same shelf space, this was a subtle way in which the firm _________ its product.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| How did consumers respond when Chobani reduced the size of its Greek yogurt containers by 12 percent?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A toothpaste tube is an example of a ________ package.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When Meg planned her trip to Australia, she spent months evaluating packages, airfares, and hotel accommodations. Meg's trip is an example of a(n) ________ product.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Price is the cash expenditure plus taxes that consumers have to pay for a good or service.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The key to successful pricing is to match the product with the consumer's perception of value.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Price is the only part of the marketing mix that does not generate costs.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Pricing strategies should be aligned with a firm's overall goals and objectives.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When a firm has a particular profit goal as its overriding concern, it will use target return pricing to meet the profit objective.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Rarely is the lowest-price product offering the dominant brand in a given market.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| American Airlines just reduced its fares for summer flights by $100. Delta Airlines changes its pricing structure and reduces its flights by $100 as well. Delta is employing status quo pricing.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A demand curve shows the relationship between income and demand.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The demand curve for prestige products generally slopes downward due to higher prices.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Because consumers are generally more sensitive to price increases than to price decreases, it is easier to lose current customers with a price increase than it is to gain new customers with a price decrease.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When the price of milk goes up, demand does not fall significantly, because people still need to buy milk. However, if the price of T-bone steaks rises beyond a certain point, people will buy fewer of them because they can turn to the many substitutes for this cut of meat. This refers to price elasticity of demand.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Dynamic pricing is also referred to as individualized pricing.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Brands that have developed loyal customers have a higher price elasticity of demand.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| In U.S. markets, there are many substitute products for Fruit Loops cereal, suggesting the price elasticity of demand for Fruit Loops is high.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Costs related to supply and costs related to demand are the two primary cost categories.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| At the break-even point, profits are maximized.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Diana owns a boutique specializing in ball gowns. Sales are stable and Diana feels it is time she had a 20 percent increase in her salary. If Diana takes this increase in compensation, it will decrease the break-even quantity of gowns she needs to sell on a monthly basis.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Pure competition occurs when there are many firms competing for customers in a given market but their products are differentiated.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| An example of an objective set by a sales-oriented company is to institute a company-wide policy that all products must provide for at least an 18 percent profit margin to reach a particular profit goal for the firm.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| If a firm is engaged in monopolistic competition, it should seek a way to differentiate itself.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When CarMax promises a “no-haggle” pricing structure, it exhibits _________ because it provides additional value to potential used car buyers by making the process simple and easy.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Earl was known for driving 30 miles just to save a dollar on the price of his favorite beverage. Earl perceived price as _______ for a good or service, while most consumers recognize price as the _______ made to acquire a good or service.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| All of the following are included in the full price of a product or service except((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Consumers generally believe that __________ is one of the most important factors in their purchase decisions.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Unlike product, promotion, or place, price is the only part of the marketing mix((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| In developing marketing strategies, why is price often the most challenging of the four Ps to manage?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Historically, prices were((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Margaret has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Since she does not know much about wine, she will likely use the price of the wines as((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| All of the following are included in the five Cs of pricing except((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Tess is the marketing manager for a fast-food restaurant chain. She uses a target return pricing strategy because her firm's primary objective is to((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Gary is the marketing manager for an automobile dealership. His boss tells him the firm's primary goal is to increase its local market share from 15 to 30 percent. His firm is using a ________ orientation.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When Delta increases its average fares, American Airlines and United often follow with similar increases. This is an example of((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Bernard's firm has set corporate direction to become one of the leaders in each of its significant market segments. It was Bernard's job to examine the firm's pricing strategy to determine how to maximize market share, even at the expense of profits in the short run. What kind of company objective would guide Bernard's effort?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Naomi tells her sales representatives the goal is to generate at least a 20 percent return on investment for all of the industrial building supplies they sell. Naomi is using a _______ pricing strategy.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A _______ strategy involves accurately measuring all the factors needed to predict sales and profits at various price levels, so that the price level that produces the highest return can be chosen.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Health clubs often use a low introductory offer price to get people to join their club. These low prices represent a _______ pricing strategy.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Many years ago Honda's Accord and Ford's Taurus were the two top-selling cars in the United States. As the year was coming to an end, Ford cut the price of the Taurus, hoping to outsell the Accord and allow Ford to claim that "Taurus is the best-selling car in America." Ford was using a _______ pricing strategy.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Julia wants her firm's gourmet snacks to be the leading brand in the U.S. market. When adopting a pricing strategy designed to gain market share, she should remember that((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Sharon knew that her established customers liked her product much better than her competitor's. She was planning to expand into new markets, and she was considering pricing. She was leaning toward charging a higher price than competitors to help demonstrate that hers was a high-quality product. Sharon was considering((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When Ursula decides how to price new products in her gift store, she measures the value of her product offerings against those of the other stores in her area. Ursula uses a _______ pricing strategy.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Ryan gave the manager of his convenience store a set of binoculars so she could see the gasoline prices charged by the other convenience store at that intersection. Ryan told the manager to always match the gasoline prices of the other store. Ryan is using a _______ pricing strategy.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When firms set prices similar to those of competitors, they are following a strategy of((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| In many high-end resort markets, Westin hotels compete directly with Crown Plaza hotels. When it comes to pricing, Westin tends to charge its guests similar rates to what the Crown Plaza hotels charge. Westin is using a _______ pricing strategy.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A customer orientation toward pricing implicitly invokes the concept of((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A "no haggle" pricing policy is a type of _____ pricing strategy.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Julia's is an upscale women's clothing store. Prices are based on customers' beliefs about the value of the clothing. The store focuses on a limited target market and provides excellent customer service. Julia's is using a _______ pricing strategy.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A strategy of setting prices based on how customers develop their perceptions of value can often be the most effective pricing strategy, especially if the strategy((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Traditional demand curve economic theory is used by marketers to understand _______ in the five Cs of pricing.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Customers must see value in a product or service before they are willing to exchange time or money to obtain it, but not all customers see the same value in a product. To analyze how many units will be sold at any given price point, marketers draw on((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A demand curve shows the relationship between _______ during a specific period of time.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A demand curve is built on the assumption that((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| According to a typical demand curve, the higher the price,((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| There is an old saying "If you have to ask the price of a yacht, you cannot afford it." Products like yachts are most likely to be associated with((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The price elasticity of demand for a teeth-whitening kit is -1. The market for this product is considered((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The price elasticity of demand for a specific brand of deodorant is 1. The market for this product is considered((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When it comes to measuring consumers' price sensitivity, products are viewed as either((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| For which of the following is demand likely to be least sensitive to price increases?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| For which of the following is demand likely to be most sensitive to price increases?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| A study found that, among addicted smokers, a 10 percent increase in the price of cigarettes resulted in a 2 percent decrease in quantity demanded. For these consumers, cigarettes have a(n) _______ price elasticity demand.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| What situation is occurring if a 1 percent decrease in price results in more than a 1 percent increase in quantity demand?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Assume the demand for electricity, a necessity with few substitutes, is -0.2. If the electric company raised its rates by 10 percent, we would expect((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| If a 1 percent decrease in price results in less than a 1 percent increase in the quantity demanded, demand is((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Barry customizes Harley-Davidson motorcycles. No two cycles are alike. He notices that very few customers even ask the price of his motorcycles before they decide to purchase them. Demand for his motorcycles is probably((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The observation that consumers are generally more sensitive to price increases than to price decreases suggests that((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The Coffee Express company is located in a business district with few customers on the weekend. To attract customers on Saturday and Sundays, it reduces its prices on these two days. This is an example of((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| French luxury goods manufacturer and retailer Hermès is known for making expensive leather goods. But paying $300,168 for a handbag at auction, which is over the standard retail price of $280,000, is extraordinary, and not for the casual shopper. The handbag is considered a((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Natalie operates on a pretty tight budget. She is a price-conscious shopper and usually buys store or generic brands to save money. Recently, however, Natalie was given a pretty substantial raise. As such, she has altered her shopping patterns and now regularly buys more expensive, name-brand goods. This is an example of((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Sales of national brands of orange juice tend to increase when the economy is doing well, while sales of generic orange juice increase when the economy is not doing well. This is an example of how _______ impacts demand for products.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Rodi owns Hallman's auto repair service. He has observed over the years that customers keep their high-mileage cars longer when the economy is doing poorly, creating demand for his maintenance and repair service. Rodi has observed the impact of _______ on demand for his service.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| There are many options available to consumers when it comes to breakfast cereals. So, if Kellogg's significantly increases the price of Rice Krispies, consumers are more apt to buy alternate cereals instead. This illustrates which concept?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The more substitutes that exist in a market,((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Brad always buys and uses Nike brand golf balls. If he finds a Titleist or Callaway ball in the rough, he gives it away. Brand-loyal golfers like Brad allow Nike to charge a higher price and not lose many sales. By building a strong brand, Nike has effectively((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Marketers spend millions of dollars annually trying to create or reinforce brand loyalty. Brand loyalty changes the demand curve for the firm's products by((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Cross-price elasticity is the((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| _______ products are products whose demands are positively related and as such, they rise or fall together.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Which of the following is the most logical example of complementary products?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Bill is a yacht broker in the southeastern United States. For years he has had difficulty selling large yachts locally because there were few places to dock these boats. Yachts and spaces to dock them are an example of((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| If the price for a product increases, the demand for the complementary product will((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Frank's Heating and Air Conditioning Company specializes in electric heat pumps. Frank keeps track of the price of natural gas, knowing that((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Managers of Wendy's fast-food restaurants keep track of prices at competitors such as McDonald's, Burger King, and Arby's, knowing that a decrease in the prices at these other fast-food restaurants will((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| One problem in relying on price elasticity and demand curves when setting prices is((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| In general, prices should not be based on costs because((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Consider a bakery like Entenmann’s: The majority of the ___________ costs are the cost of the ingredients, primarily flour.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| David manages a Shoney's restaurant. He is considering staying open later in the evening. For David, the variable costs associated with staying open longer hours will include all of the following except((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Variable costs change with((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Raymond estimates that the fixed costs associated with opening a new bank branch are $500,000. He expects the branch to attract 1,000 new customer accounts in the first year, each of which will cost $50 per year to service. He also expects to generate $100,000 per year in revenue. For Raymond, the total cost of opening the new branch and remaining open for one year will be((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| At the break-even point,((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The break-even point is estimated by((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| If the fixed costs of manufacturing a new cell phone are $10,000, the sales price is $60, and variable cost per unit is $20, the break-even point is((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Jacob rents rooms in his hotel for an average of $100 per night. The variable cost per rented room is $20, to cover maid service and utilities. His fixed costs are $100,000 and his profit last year was $20,000. For Jacob, the contribution per unit is((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The contribution per unit is((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Jason rents rooms in his hotel for an average of $100 per night. The variable cost per rented room is $20. His fixed costs are $100,000 and his target profit is $20,000. For Jason, to earn his target profit, he will need to rent out ________ rooms.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Break-even analysis is useful because it allows managers to((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| One of the limitations associated with break-even analysis is that((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Which of the following markets is most likely to be characterized by oligopolistic competition in the United States?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Because there are only a few firms in markets with oligopolistic competition,((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| In a market with _______ there are many firms providing differentiated products.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Because there are many firms in monopolistic competition markets,((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| In _______ many firms provide similar products that are considered substitutes for each other.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Which of the following is most likely to be characterized by pure competition in the United States?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Because there are many firms with similar products in purely competitive markets,((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| If a firm in a purely competitive market can differentiate its product or service, it becomes part of a(n) _______ market.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| How can a company find its way out of a market characterized by pure competition?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| When the price for Blu-ray players dropped, the demand for DVD players went down, so DVD players and Blu-ray players are((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| In one year, the Hotel by the Shore incurred $100,000 in fixed costs. Because the hotel booked 10,000 room nights, its total variable cost is $100,000 (10,000 room nights ´ $10 per room). Thus, its total cost is((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| There is often only one provider of cable television services in each region of the country: Time Warner is in New York, Comcast is in most of New England, and so forth. When Comcast recently proposed a plan to buy Time Warner, the purchase ultimately could not be completed, mostly due to concerns that it would have caused Comcast to become an overly large ________with too much power.((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Predatory pricing((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| Diane owns a bakery where she sells cupcakes. Two blocks down there is another bakery, CC's Bakery, that sells cupcakes for $1 less than Diane. Diane decides to lower her price and match CC's Bakery prices. What type of pricing strategy is Diane implementing?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The point at which the number of units sold generates enough revenue to equal the total costs of running an operation is known as the((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |
| The commercial airline industry is considered what type of market?((حل أسئلة كويز2 تتوفر للمشتركين فقط)) |