Reference no: EM131762561

Q1. Amazon.com leverages relationships with its 35 million customers by offering them music, videos, gifts, toys, consumer electronics, and office products, among other product items. Based on previous purchase history, the company recommends related CDs, books, or videos that might be of interest. This helps Amazon.com capture a greater ________.

a. share of customer

b. customer base

c. customer ownership

d. value proposition

e. social network

Q2. Which of the following is the term for customers who make repeat purchases and tell others about their positive experiences with a product or service?

a. social customers

b. customer evangelists

c. satisfied customers

d. full partners

e. butterflies

Q3. 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

Q4. Which of the following reflects the marketing concept philosophy?

a. "You won't find a better deal anywhere."

b. "We're in the business of making and selling superior products."

c. "When it's profits versus customers' needs, profits will always win out."

d. "We don't have a marketing department, we have a customer department."

e. "We build them so you can buy them."

Q5. Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This reflects the ________.

a. societal marketing concept

b. product concept

c. selling concept

d. production concept

e. marketing concept

Q6. 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

Q7. The final step in the marketing process is ________.

a. capturing value from customers

b. creating customer lifetime value

c. designing a customer-driven marketing strategy

d. understanding the marketplace

e. creating customer loyalty

Q8. You are an assistant marketing director for a firm in a market with many low-margin customers. What type of relationship would it be most profitable for you to develop with these customers?

a. selective relationships

b. basic relationships

c. community relationships

d. full partnerships

e. club programs

Q9. 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

Q10. Family Dollar stores profitably focusing on buyers who have relatively modest means is an example of ________.

a. value pricing

b. convenience

c. market segmentation

d. value packing

e. target marketing

Q11. 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

Q12. 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

Q13. 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

Q14. 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

Q15. Disney is identifying and developing new markets for its theme parks. Disney is exploring possibilities for ________.

a. diversification

b. market penetration

c. product development

d. market development

e. downsizing

Q16. In the BCG matrix, ________ are low-share businesses and products in a market that is not expected to grow. They may generate enough cash to maintain themselves but do not promise to be large sources of cash.

a. dogs

b. cash cows

c. black holes

d. stars

e. question marks

Q17. 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

Q18. The Bank of New York bought Pershing, an off-shore investment firm with operations in India, from Credit Suisse First Boston. The Bank of New York is pursuing a ________.

a. downsizing strategy

b. product adaptation

c. diversification strategy

d. product development strategy

e. market penetration strategy

Q19. 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

Q20. 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

Q21. Which of the following is the most commercially influential American demographic age group today?

a. seniors

b. Millennials

c. baby boomers

d. Generation X

e. tweens

Q22. An increasing number of American workers work out of their homes with technological conveniences such as PCs, high-speed Internet access, and fax machines. These workers are referred to as the ________ market.

a. Gen X

b. micropolitan

c. Millennial

d. SOHO

e. LOHAS

Q23. Rachel Patino works for a wholesale company called Distributors Unlimited. She is responsible for buying and selling goods at a profit to small retailers. What is her market?

a. wholesale

b. retail

c. consumer

d. reseller

e. business

Q24. Which of the following is an example of a core belief?

a. Extended warranties are never worth the money consumers pay for them.

b. The comforts of home are more important than entertainment outside of the home.

c. Professionals should wear business clothes to work.

d. Americans should display their patriotism.

e. Marriage is important.

Q25. Which type of organization helps companies to stock and move goods from their points of origin to their destination?

a. supplier

b. financial intermediary

c. marketing service firm

d. physical distribution firm

e. reseller

Q26. A company or association's ________ is designed to help guide responses to complex social responsibility issues.

a. cause-related marketing

b. privacy policy

c. discretion in enforcing regulations

d. core value system

e. code of ethics

Q27. What movement has encouraged marketers to pursue environmentally sustainable strategies?

a. the SOHO movement

b. the EPA

c. green intervention

d. the black market

e. the green movement

Q28. The natural resources that are needed as inputs by marketers or that are affected by marketing activities are referred to as the ________.

a. factors of production

b. raw material market

c. natural environment

d. endangered environment

e. green movement

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. Marketers should be aware of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society. This is the ________ environment.

a. economic

b. cultural

c. socio-legal

d. political

e. legal-technological

Q31. In CRM, findings about customers discovered through ________ techniques often lead to marketing opportunities.

a. customer strategy

b. customer loyalty management

c. data mining

d. value network

e. data warehousing

Q32. 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.

Q33. Which of the following is an example of a free online database that a company could access in order to develop marketing intelligence?

a. U.S. Security and Exchange Commission's database

b. LexisNexis

c. ProQuest

d. Hoover's

e. Dialog

Q34. Your marketing department is attempting to improve strategic decision making, track competitors' actions, and provide early warning of opportunities and threats. To achieve this goal, which of the following would be the best for your department to use?

a. external databases

b. marketing intelligence

c. the Internet

d. company reports only

e. internal databases

Q35. Which of the following is the best advice about creating research questionnaires?

a. Avoid personal questions that may make some respondents uncomfortable.

b. Use simple and direct language.

c. Questions should not be arranged in a particular order.

d. Ask personal questions in the middle of the instrument.

e. Ask difficult questions in the beginning to 'weed out' uninterested respondents.

Q36. Four common sources of internal data supplied to internal databases include the accounting department, operations, the sales force, and the ________.

a. owners

b. Web

c. competition

d. stockholders

e. marketing department

Q37. Marketing information is only valuable when it is used to ________.

a. identify a target market

b. simplify management's job

c. please shareholders

d. make better marketing decisions

e. increase efficiencies in the supply chain

Q38. Cultural differences, especially those involving language, can add to research costs in foreign markets and can increase the ________.

a. reliance on primary data

b. response rate

c. need for a larger sample

d. risks of error

e. foreign trade

Q39. Because of the scarcity of good secondary data, international researchers often must collect their own primary data. An initial problem with this collection is developing good ________.

a. research firms

b. customer relationships with nationals

c. analytical models

d. relationships with channel members

e. samples

Q40. You are about to test the hypothesis that sales of your product will increase at a very similar rate at either a $5 drop in unit price or a $7 drop in unit price. You are involved in what type of research?

a. ethnographic

b. descriptive

c. focus group

d. causal

e. exploratory