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Mgt 240 test (all correct)

Mgt 240 test (all correct)

Q1. ________ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs.
a. The product concept
b. Selling myopia
c. Marketing management
d. Marketing myopia
e. Value proposition

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Q2. The art and science of choosing target markets and building profitable relationships with them is called ________
a. societal marketing
b. positioning
c. marketing management
d. segmentation
e. selling
Q3. Frequent flyer programs offered by airlines are an example of a ________.
a. consumer-generated marketing program
b. basic customer relationship
c. frequency marketing program
d. club marketing program
e. structural benefit provided for top customers
Q4. The set of marketing tools a firm uses to implement its marketing strategy is called the ________.
marketing effort
product mix
marketing mix
promotion mix
Q5. Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ philosophy.
a. production concept
b. societal marketing concept
c. selling concept
d. product concept
e. marketing concept
Q6. Your state’s department of education has budgeted a significant amount of money for a radio, print, television, and online advertising campaign emphasizing the long-term benefits, both educational and professional, of reading every day. This is an example of a(n) ________ campaign.
a. ethical
b. consumer-generated
c. for-profit
d. differentiated
e. social marketing
Q7. leverages relationships with its 35 million customers by offering them music, videos, gifts, toys, consumer electronics, and office products, among other product items. Based on previous purchase history, the company recommends related CDs, books, or videos that might be of interest. This helps capture a greater ________.
a. share of customer
b. customer base
c. customer ownership
d. value proposition
e. social network
Q8. The final step in the marketing process is ________.
a. capturing value from customers
b. creating customer loyalty
c. designing a customer-driven marketing strategy
d. understanding the marketplace
e. creating customer lifetime value
Q9. When backed by buying power, wants become ________.
a. self-esteem needs
b. physical needs
c. demands
d. social needs
e. exchanges
Q10. Selecting which segments of a population of customers to serve is called ________.
a. positioning
b. market segmentation
c. customization
d. choosing a value proposition
e. target marketing
Q11. ________ are human needs as shaped by individual personality and culture.
a. Values
b. Deprivations
c. Demands
d. Exchanges
e. Wants
Q12. Through ________, many companies today are strengthening their connections to all partners, from providers of raw materials and components to final buyers who purchase final products.
a. customized marketing
b. supply chain management
c. partnership relationship marketing
d. deviated marketing
e. direct marketing
Q13. When the economy tightens, customer loyalty and customer retention become ________ for marketers.
a. impossible
b. more important
c. short-term but not long-term goals
d. less important
e. long-term but not short-term goals
Q14. ________ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others.
a. Marketing
b. Advertising
c. Negotiating
d. Bartering
e. Selling
Q15. In addition to attracting new customers and creating transactions, the goal of marketing is to ________ customers and grow the company’s business.
a. entertain
b. retain
c. encourage
d. educate
e. recognize
Q16. Which of the following best explains why consumers have greater power and control in today’s marketplace?
a. More companies are implementing societal marketing and weighing long-run costs and benefits.b. Implementation of the product concept has resulted in continually improving products.
c. The production concept and competition have lowered prices.
d. Through new communication technologies, customers have more access to information and more methods of sharing their opinions with other customers.
e. Customer-driving marketing creates products and services that meet customers’ future needs.
Q17. Favorite Memories specializes in serving market segments that major competitors overlook and ignore. Which of the following best describes Favorite Memories?
a. marketer challenger
b. market seeker
c. market nicher
d. market follower
e. full market coverer
Q18. The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors is called ________.a. marketing strategy
b. market segmentation
c. market extension
d. market targeting
e. positioning
Q19. Multinationals like Honda Motor Co. and Wal-Mart stores have designed programs to work closely with their suppliers to help them reduce their costs and improve quality. This illustrates the importance of an efficient ________.
a. product mix
b. problem-solver
c. low-cost operator
d. value-delivery network
e. business model
Q20. Making more sales without changing a firm’s products is ________.a. market attractiveness
b. market growth
c. product development
d. market development
e. market penetration
Q21. Peter Cramer is constantly involved in evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained. Peter’s current work is most accurately classified as ________.
a. tactical planning
b. strategic planning
c. marketing planning
d. strategic control
e. marketing control
Q22. Which of the following is a tool for monitoring strategic marketing performance?a. a product differentiation
b. a marketing plan
c. a customer management organization
d. a value delivery network
e. a marketing dashboard
Q23. The first step in strategic planning is to ________.a. develop the business portfolio
b. identify a problem
c. plan marketing strategies
d. define the company mission
e. set objectives and goals
Q24. ________ entails reducing the business portfolio by eliminating products that no longer fit the company’s overall strategy.a. Downsizing
b. Market segmentation
c. Market redesign
d. BCG
e. Product line extension
Q25. In the BCG approach, ________ are high-share, high-growth businesses or products. They need heavy investment to finance rapid growth. When their growth slows down, they turn into ________.a. question marks; dogs
b. stars; question marks
c. stars; cash cowsd. cash cows; stars
e. dogs; cash cows
Q26. To be successful at marketing, companies must effectively turn marketing planning into ________.a. marketing audits
b. marketing analysis
c. marketing implementation
d. marketing control
e. marketing budgeting
Q27. In the BCG matrix, income from ________ can be used to help finance the company’s question marks and stars.
a. cash cows
b. overseas operations
c. SBUs
d. dogs
e. sales revenue
Q28. The ________ organizational system’s main advantage is that the company is organized around the needs of specific market segments.
a. geographic management
b. product management
c. functional management
d. vertical management
e. market management
Q29. Which of the following best explains why Gen Xers who are parents tend to put family before career?a. Gen Xers are more skeptical about marketing than members of other generations are.
b. Gen Xers are not as educated as members of other generations are
c. Gen Xers were the first generation of latchkey kids.
d. Gen Xers were minimally affected by the recent economic downturn.
e. Gen Xers do not face as many economic pressures as members of other generations do.
Q30. Increased marketing of home amenities such as high-end barbeques, hot tubs, and home entertainment centers has most likely been spurred by Americans’ changing views of ________.
a. social responsibilityb. naturec. organizationsd. marketinge. othersQ31. Marketers can take a(n) ________ by taking aggressive action to affect the publics and forces in their marketing environments.a. environmental perspectiveb. natural management perspectivec. natural perspectived. proactive stancee. relationship building perspectiveQ32. A society’s core beliefs and values have a high degree of ________.a. similarityb. persistencec. conformityd. simplicitye. ethnocentrismQ33. Marketers should be aware of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society. This is the ________ environment.a. economicb. culturalc. socio-legald. politicale. legal-technologicalQ34. What movement has encouraged marketers to pursue environmentally sustainable strategies?a. the SOHO movementb. the EPAc. green interventiond. the black markete. the green movementQ35. In a tiered market, companies target which of the following?a. consumers at all levels of income distributionb. professionals onlyc. consumers of modest means onlyd. the middle class onlye. affluent consumers only
Q36. The three largest age groups in America are the baby boomers, Generation Xers, and ________.a. Millennialsb. tweensc. teensd. seniorse. toddlersQ37. Of the following diversity segments in the American population, which is currently the largest?a. Asian Americansb. Hispanicsc. telecommutersd. adults with disabilitiese. African AmericansQ38. A radio station that carries news, features, and editorial opinions about your area is best classified as which type of public?a. regionalb. mediac. financiald. locale. citizen-actionQ39. A company or association’s ________ is designed to help guide responses to complex social responsibility issues.a. cause-related marketingb. privacy policyc. discretion in enforcing regulationsd. core value systeme. code of ethicsQ40. Which of the following descriptions most accurately characterizes the baby boomers?a. They are a shrinking market for new housing and home remodeling.b. They were largely unaffected by the recent recession.c. They hold 75% of the country’s financial assets.d. They are aging and slowing down.e. They are past their peak earning and spending years.Q41. ________ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.a. Marketing intelligenceb. Sales managementc. Customer intelligenced. Competitive intelligencee. Marketing dataQ42. Your marketing department is attempting to improve strategic decision making, track competitors’ actions, and provide early warning of opportunities and threats. To achieve this goal, which of the following would be the best for your department to use?a. external databasesb. marketing intelligencec. the Internetd. company reports onlye. internal databasesQ43. Cultural differences, especially those involving language, can add to research costs in foreign markets and can increase the ________.a. reliance on primary datab. response ratec. need for a larger sampled. risks of errore. foreign tradeQ44. Marketing researchers usually draw conclusions about large groups of consumers by studying a small ________ of the total consumer population.a. sampleb. target groupc. populationd. groupe. audienceQ45. You are about to test the hypothesis that sales of your product will increase at a very similar rate at either a $5 drop in unit price or a $7 drop in unit price. You are involved in what type of research?a. ethnographicb. descriptivec. focus groupd. causale. exploratoryQ46. Which of the following is an example of a free online database that a company could access in order to develop marketing intelligence?a. U.S. Security and Exchange Commission’s databaseb. LexisNexisc. ProQuestd. Hoover’se. DialogQ47. Anna Gregory just completed reading a marketing research report about the top 25 countries that purchase American products. What would the report most likely say about international research within these countries?a. It is on the decrease due to high costs.b. Despite the costs of international research, the costs of not doing it are higher.c. The costs are higher than the benefits.d. Interpretations of American quality are consistent among different countries.e. There is a lack of qualified research personnel.Q48. In CRM, findings about customers discovered through ________ techniques often lead to marketing opportunities.a. customer strategyb. customer loyalty managementc. data miningd. value networke. data warehousingQ49. Ethnographic research ________.a. is most popular in the service sectorb. is gathered where people live and workc. comes from traditional focus groupsd. provides secondary datae. provides data to marketers when observation is impossibleQ50. Maryann Rose is conducting research to determine consumers’ personal grooming habits. Because of the personal nature of the survey questions about this topic, Maryann wants to select the contact method that is most likely to encourage respondents to answer honestly. Which contact method should Maryann select?a. online panelsb. telephone interviewsc. mail questionnairesd. focus group interviewse. individual interviewsQ51. Because of the scarcity of good secondary data, international researchers often must collect their own primary data. An initial problem with this collection is developing good ________.a. research firmsb. customer relationships with nationalsc. analytical modelsd. relationships with channel memberse. samplesQ52. Four common sources of internal data supplied to internal databases include the accounting department, operations, the sales force, and the ________.a. ownersb. Webc. competitiond. stockholderse. marketing departmentQ53. ________, the most affluent U.S. demographic subculture, now have more than $450 billion in annual spending power.a. African Americansb. Gen Xersc. Hispanicsd. Gays and lesbianse. Asian AmericansQ54. According to Freud’s theories, people are ________ many of the psychological forces shaping their behavior.a. status-driven aboutb. unaware ofc. aware ofd. socially conscious ofe. unsure ofQ55. A(n) ________ is a descriptive thought that a person has about something.a. motiveb. beliefc. perceptiond. lifestylee. attitudeQ56. Opinion leaders are sometimes referred to as ________.a. buzz marketersb. the upper classc. the influentialsd. the middle classe. networkersQ57. ________ are groups to which an individual wishes to belong, as when a teenage basketball player hopes to play someday for the Los Angeles Lakers.a. Leading adopter groupsb. Aspirational groupsc. Membership groupsd. Social class groupse. Leisure groupsQ58. ________ is never simple, yet understanding it is the essential task of marketing management.a. Understanding the difference between primary and secondary datab. Consumer buying behaviorc. Consumption pioneeringd. Brand personalitye. Early adoptionQ59. Of the following, the best starting point to understanding how consumers respond to various marketing efforts is the ________ model of a buyer’s behavior.a. stimulus-responseb. subculturec. beliefd. societale. generationalQ60. A customer’s lifestyle can be measured using the AIO dimensions. What does AIO stand for?a. Activities, Interests, Opinionsb. Adoptions, Interests, Occupationsc. Accommodation, Investment, Orientationd. Acknowledgement, Interests, Observationse. Achievement, Involvement, OrganizationsQ61. People tend to interpret new information in a way that will support what they already believe. This is called ________.a. selective distortionb. selective perceptionc. selective attituded. selective retentione. selective learningQ62. ________, the fastest-growing U.S. demographic segment, now number more than 46 million.a. Hispanicsb. African Americansc. Gays and lesbiansd. Mature consumerse. Asian AmericansQ63. Which of the following statements about buying centers is true?a. The buying center roles are specified on the organizational chart.b. The buying center may involve informal participants who are not obvious to sellers.c. The buying center is like a standing committee.d. An individual’s role in the buying center does not change.e. The typical buying center has five employees, one to assume each of the buying center’s roles.Q64. Generally, the consumer’s purchase decision will be to buy the most preferred brand, but two factors can come between the purchase intention and the purchase decision. Which of the following is one of these factors?a. new product adoptionb. postpurchase behaviorc. attitude of othersd. cognitive dissonancee. alternative evaluationQ65. Niche marketing offers smaller companies the opportunity to compete by focusing their limited resources on serving niches that may be ________ or ________ larger companies.a. unknown by; desired byb. too large; undesirable toc. unimportant to; overlooked byd. disappointed by; geographically far frome. unimportant to; desired byQ66. Marketers must be careful to guard against ________ when using age and life cycle segmentation.a. traditional marketingb. underestimatingc. gender biasd. cultural biase. stereotypingQ67. A product’s position is based on important attributes as perceived by ________.a. suppliersb. competitorsc. consumersd. managerse. market conditionsQ68. When a company identifies the parts of the market it can serve best and most profitably, it is practicing ________.a. segmentingb. concentrated marketingc. mass marketingd. market targetinge. differentiationQ69. Which group determines a product’s position relative to competing products?a. consumersb. wholesalersc. manufacturersd. supplierse. retailersQ70. Your firm has decided to localize its products and services to meet local market demands. A good approach to use would be ________ segmentation.a. customerb. imagec. geographicd. benefite. end-useQ71. Which positioning strategy offers consumers a ‘good deal’ by offering equivalent-quality products or services at a lower price?a. more-for-lessb. less-for-much-lessc. all-or-nothingd. same-for-lesse. more-for-the-sameQ72. By studying its less loyal buyers, a company can detect which brands are most ________ with its own.a. similarb. competitivec. often overlookedd. complementarye. usedQ73. You have just created the ‘perfect’ ad. It communicates the full mix of benefits upon which the brand is differentiated and positioned. This full positioning of the brand is called ________.a. its value propositionb. value profilingc. differentiated marketingd. target marketinge. capturing the consumers’ attentionQ74. Consumers can show their allegiance to brands, stores, or companies. Marketers can use this information to segment consumers by ________.a. store typeb. brand preferencec. loyalty statusd. usage ratee. user statusQ75. In general, a company should enter only segments in which it can ________ and ________.a. offer superior value; ship fasterb. offer lower prices; ship fasterc. identify behaviors; understand spending powerd. offer superior value; gain advantages over competitorse. gain advantages over competitors; offer new productsQ76. The answer to the customer’s question, ‘Why should I buy your brand?’ is found in the ________.a. quality imageb. customer servicesc. value propositiond. pricing and promotion structuree. differentiationQ77. Which of the following is an advantage offered by co-branding?a. Brand equity is stabilized.b. Retailers have exclusive products that cannot be purchased from competitors.c. Manufacturers do not have to invest in creating their own brand names.d. Advertising, sales, promotion, and marketing must be carefully coordinated.e. A company can expand its existing brand into a category it otherwise might have difficulty entering alone.Q78. The Ad Council of America has developed dozens of ________ marketing campaigns, including classics such as ‘Smokey the Bear,’ ‘Keep America Beautiful,’ and ‘Only You Can Prevent Forest Fires.’a. socialb. brand equityc. placed. servicee. product lineQ79. Which of the following is most likely to be seen as the major enduring asset of a company, outlasting the company’s specific products and facilities?a. specialty productsb. convenience productsc. staplesd. unsought productse. brandsQ80. A(n) ________ is a name, term, sign, symbol, design, or a combination of these, that identifies that maker or seller of a product or service.a. co-brandingb. internal marketingc. brandd. external marketinge. serviceQ81. Which of the following capital items is NOT considered accessory equipment?a. buildingsb. hand toolsc. lift trucksd. chairse. desksQ82. An increasing number of retailers and wholesalers have created their own ________, also called store brands.a. shopping productsb. unsought productsc. private brandsd. specialty productse. service variabilityQ83. Product is a key element in a company’s ________, which may, at one extreme, consist of pure tangible goods or, at the other extreme, pure services.a. brand extensionb. core customer valuec. brand equityd. co-brandinge. market offeringQ84. Costco’s Kirkland products are an example of a(n) ________.a. private brandb. sponsorship brandc. organizational brandd. support brande. manufacturer’s brandQ85. Product mix ________ refers to the number of different product lines the company carries. Procter & Gamble markets 250 brands organized into many product lines.a. heightb. lengthc. widthd. depthe. perimeterQ86. A ________ is defined as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.a. productb. service variabilityc. service encounterd. private brande. serviceQ87. Developing a product involves defining the benefits that it will offer. These benefits are communicated and delivered by ________ such as quality, features, and style and design.a. marketing toolsb. product attributesc. private brandsd. product mixese. consumer productsQ88. ________ occurs when a company introduces additional items in a given product category under the same brand name, such as new flavors, forms, colors, ingredients, or package sizes.a. Service variabilityb. A product mixc. A line extensiond. Interactive marketinge. Service intangibilityQ89. New product development starts with ________.a. idea screeningb. test marketingc. concept testingd. idea generatione. concept developmentQ90. Which of the following statements best explains why idea screening may be the most import step of new product development?a. It increases the number of ideas generated.b. It saves the company money in product development costs by giving the green light to only the product ideas that are likely to be profitable.c. Some ideas that will become market disasters may be originally viewed favorably by the idea screeners.d. It gives research and development team members an opportunity to gather consumer feedback.e. Some potentially profitable ideas may be ill perceived by the idea screeners.Q91. Mattel’s Barbie is an example of an age-defying product. Barbie, simultaneously timeless and trendy, is in the ________ stage of the PLC.a. growthb. adoptionc. maturityd. declinee. introductionQ92. Many marketers are now using new simulated marketing technologies, such as Frito-Lay’s online virtual convenience store, to reduce the cost of ________.a. concept testingb. marketing strategy developmentc. product developmentd. concept developmente. test marketingQ93. In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?a. adoptionb. product developmentc. growthd. maturitye. introductionQ94. ________ is a new-product development approach in which one company department works to complete its stage of the process before passing the new product along to the next department and stage.a. Simultaneous product developmentb. Sequential product developmentc. Product life-cycle analysisd. Micromarketinge. Team-based product developmentQ95. Which of the following is necessary for successful new-product development?a. a holistic and sequential product development approachb. an innovation management system and sequential product developmentc. a market pioneer mindset and a holistic approachd. a customer-centered, team-based, systematic approache. a team-based, innovation-management approachQ96. In the concept testing stage of new-product development, a product concept in ________ form is presented to groups of target consumers.a. market-testedb. commercialc. physical or symbolicd. prototypee. finalQ97. Big Moose Toys is a market pioneer introducing a modern version of Bullwinkle the Moose, a character from an animated television series originally broadcast in the 50s and 60s. The company’s version of Rocky the Flying Squirrel, another character from the show, targeted to baby boomers was a strong success. They need to make the new launch strategy for Bullwinkle consistent with the intended ________.a. fadb. pricingc. product positiond. prototypee. brand extensionQ98. The creation of a successful new product depends on a company’s understanding of its ________ and its ability to deliver ________ to customers.a. customers, competitors, and markets; superior valueb. product, marketing mix, and marketing strategy; functional featuresc. product life cycle, legal responsibilities, and social responsibilities; innovationsd. customers, brands, products; product imagese. competitors, distributors, and employees; new stylesQ99. The search for new-product ideas should be ________ rather than ________.a. impulsive; strategicb. systematic; haphazardc. employee-centered; customer-centeredd. intermittent; continuouse. segmented; holisticQ100. Product improvements, product modifications, and original products can all be classified as ________.
a. test productsb. pioneer productsc. product conceptsd. new productse. product ideas

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