Question 1

The primary purpose of the ________ plan is to specify the marketing activities for a specific period of time. -

Accepted Answer

Marketing

Question 2

Apple makes its innovations compatible with existing products to encourage consumers to maintain a long-term relationship with the company across all their electronic needs. -

Accepted Answer

true

Question 3

What type of firms recognize that including a strong social orientation in business is a sound strategy that is in both its own and its customers' best interest? -

Accepted Answer

socially responsible firms

Question 4

The process of value ________, in which customers collaborate in product design, often provides additional value to the firm's customers. -

Accepted Answer

cocreation

Question 5

Nice 'n Easy sells handcrafted furniture. They have also recently begun offering appraisals of customers' antiques. Nice 'n Easy is -

Accepted Answer

expanding from offering just goods to also offering services

Question 6

Marketing channel management is related to which of the four Ps? -

Accepted Answer

place

Question 7

Many marketing students initially overlook the importance of marketing channel management because -

Accepted Answer

many of these activities take place behind the scenes.

Question 8

As owner of a retail franchise food store, Elena 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 fr

Accepted Answer

sharing information across the organization

Question 9

During the market-oriented era, manufacturers began to focus on customers' needs before they designed or sold their products. -

Accepted Answer

true

Question 10

The power adapters Apple sells with its computers are built by small companies that specialize in power-related accessories. When Apple purchases its power adapters from these small companies, it is engaged in B2B marketing. -

Accepted Answer

true

Question 11

Which of the following factors, listed in a situation analysis for a major U.S. auto manufacturer, is the best example of an opportunity? -

Accepted Answer

Recent consumer studies have indicated that Chinese consumers prefer American cars

Question 12

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 fou

Accepted Answer

a sustainable competitive advantage.

Question 13

Firms achieve ________ through efficient procedures and excellent supply chain management. -

Accepted Answer

operational excellence

Question 14

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? -

Accepted Answer

locational excellence

Question 15

Which of the following factors, listed in a situation analysis for a major U.S. auto manufacturer, is the best example of a threat? -

Accepted Answer

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.

Question 16

Many small businesses whose competitors are national franchises advertise "we are locally owned" or "we have been serving the community since 1951." These claims are part of these firms' -

Accepted Answer

positioning strategy

Question 17

Which of the following is the third step in the marketing planning process? -

Accepted Answer

identify and evaluate opportunities

Question 18

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. -

Accepted Answer

sustainable competitive advantage

Question 19

One example of a customer loyalty program is -

Accepted Answer

a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases.

Question 20

Most banks implement customer retention programs aimed at their best customers. They do this because they know that retaining customers usually results in -

Accepted Answer

increased long term profits

Question 21

Marvel has increased its market penetration by expanding the distribution of its films. Marvel movies can be seen in theaters, accessed on Xfinity, and viewed on DVDs available in discount stores, grocery stores, and a host of other stores, including book

Accepted Answer

Market penetration

Question 22

After identifying various market segments that her company could pursue, Shannon evaluated each segment's attractiveness based on size, income, and accessibility. Shannon was involved in -

Accepted Answer

Target Marketing

Question 23

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 -

Accepted Answer

enables firms to make appropriate adjustments

Question 24

Ford Motor Company may be thinking of announcing that it will severely cut back its automobile production. For parts companies supplying Ford its parts, this cut back in production represents a(n) -

Accepted Answer

threat

Question 25

Firms are typically more successful when they focus on opportunities that build on their strengths relative to those of their competition. -

Accepted Answer

true

Question 26

STP refers to -

Accepted Answer

Segmentation, Targeting, Positioning

Question 27

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 s

Accepted Answer

Market Penetration

Question 28

Value creation through place decisions for a consumer product involves -

Accepted Answer

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.

Question 29

The process of dividing the market into groups of customers with different needs, wants, or characteristics is called -

Accepted Answer

Market segementation

Question 30

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) ______

Accepted Answer

Product Excellence

Question 31

As the euro becomes more expensive relative to the dollar, Americans are likely to purchase more European wines. -

Accepted Answer

false

Question 32

The shift of population from the rust belt in the north to the sun belt in the south and southwest will likely -

Accepted Answer

reduce regional cultural differences.

Question 33

For most makers of ________, especially those that resonate strongly with consumers' sense of nostalgia and childhood memories, changing ingredients to healthier options represents a grave risk. -

Accepted Answer

processed foods

Question 34

a firms macroenvironment includes. -

Accepted Answer

economics

Question 35

Astute marketers recognize that the increasing disparity of income between upper- and lower-income groups -

Accepted Answer

creates opportunities to provide value to each group

Question 36

the difference between a firm's immediate marketing environment and its macroenvironment is that the macroenvironment -

Accepted Answer

is external

Question 37

Sandstone Trucking provides transportation services for Betty's Best Bagels so that Betty's stores always have fresh stock. Sandstone Trucking is an example of a -

Accepted Answer

corporate partner

Question 38

Marketers are more likely to find higher concentrations of foreign-born Americans and recent immigrants in -

Accepted Answer

New York, LA, San Francisco, and Chicago

Question 39

if the inflation rate in mexico was twice the rate in the united state, but the maxican monetary authorities kept the peso - dollar exchange rate almost constant. which of the following is true -

Accepted Answer

Mexican products would be more expensive, while U.S. made products would become comparatively lass expensive

Question 40

What is most likely to happen when inflation increases? -

Accepted Answer

consumers buy lower-priced foods.

Question 41

a fence company agreed to complete a job in one week and collected a 50 percent deposit. but never showed up to do the job. The same fence company then donated $5,000 to be a local children's hospital. the fence company could be considered socially respon

Accepted Answer

true

Question 42

Anders picks up the local newspaper and reads a stinging letter to the editor criticizing his beverage company for supporting a sporting event for children with disabilities. The letter writer is critical of a banner displayed at the event with the logos

Accepted Answer

identify issues

Question 43

According to one definition, CSR can be described as context-specific actions and policies, taking stakeholders' expectations into account, to achieve what is referred to as the triple bottom line. The triple bottom line includes _________________________

Accepted Answer

economic, social, and environmental

Question 44

Among the key differences between conscious marketing and CSR is the unique view on stakeholders that is absolutely critical to CSR -

Accepted Answer

false

Question 45

Which of the following descriptions embodies conscious marketing principles -

Accepted Answer

both ethically and socially responsible

Question 46

One way in which conscious marketing differs from corporate social responsibility (csr) is that CSR takes a holistic, ecosystem view of business as a complex, adaptive system. -

Accepted Answer

false

Question 47

Courses of action such as halting the market research project, making responses anonymous, and instituting training on the AMA Code of Ethics for all researchers would be identified during the ________ stage. -

Accepted Answer

brainstorming

Question 48

Which of the following statements regarding corporate social responsibility is true? -

Accepted Answer

it uses limited overlap between the business and society, and between business and the planet

Question 49

Stakeholders typically include the firm's employees and their families, customer groups, members of the community, the environment and the firm's partners, and competitors. -

Accepted Answer

True

Question 50

Cookie Cutter, a firm that manufactures high-end mixers, donates $10 per mixer sold to a local food bank. This is a form of -

Accepted Answer

corporate social responsibility

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Exam 1 Prep