Chapters 1-3 1)The public is becoming more aware of how marketers’ activities affect the welfare of consumers and society. As a result, more firms are working to -create a responsible approach to developing long-term relationships with customers and society 2)A Junior marketing executive at MegaGrain Cereals suggests increasing the package size and price of its best-selling brand without increasing the amount of cereal inside the box. Her superior warns that this might be a bad idea because MegaGrains long-term survival, like most companies, depends on creating and maintaining satisfying exchange relationships 3)Which of the following statements about marketing environment forces is not correct? -They fluctuate slowly and thereby create threats to a firm’s marketing mix 4)Which of the following is not an example of the implementation of the marketing concept? -Burger King reduces the labor costs to produce its sausage-egg biscuits 5)Which one of the following statements by a company president best reflects the marketing concept? -We have organized out business to make certain that customers get what they want )Three basic forms that a product can take are -services, ideas, and goods 7)SunnyD is aimed at mothers with children under age 12. The mothers represent SunnyD’s -target market 8)Which of the following best describes the acceptance of the marketing concept by American organizations? -The marketing concept has yet to be fully accepted by all organizations 9)Greensprings Cemtery in upstate New York, Offers a full service funeral and burial that is non-toxic to the environment. All materials used in the burial are natural and will decompose with no negative impact…….
The owners of the Greensprings Cemeteries are apparently operating under which of the following orientations? -Marketing Orientation 10) Marketing knowledge and skills -enhance consumer awareness and help provide people with satisfying goods and services A change in the minimum drinking age in any given state illustrates a change in the _____________ for Miler Brewing. -Marketing environment 12)Paws and Claws Hotel is a full-service pet salon and boarding kennel. Paws and Claws has an interactive website where customers can directly booka grooming appointment, obedience class, or overnight accomodation for their dog and cat…. …… …… Previously, Paws and Claws was most likely using which type of orientation? ?-sales 13)Which of the following is most likely to be an idea marketer? -abuse counselor 14)A physical product you can touch is a -good 15)Long-term relationships with profitable customers is the key objective of -customer relationship management 16)Paws and Claws Hotel is a full-service pet salon and boarding kennel. Paws and Claws has an interactive website where customers can directly booka grooming appointment, obedience class, or overnight accomodation for their dog and cat…. ……. ….. The fact that Paws and Claws is open 24 hours each day is part of which marketing mix variable? -distribution 17)Resource deployment and coordination of functional areas of business are determined by -corporate strategy 18)A firm’s unique symbols, personalities, and philosophies compromise its -corporate strategy 19)The Acme Corporation is expanding operations into countries outside the U. S. To improve local managers’ responsiveness to local conditions, Acme’s senior management has decided to delegate decision-making authority further down the chain of command. Acme is decentralizing 20)Electronic marketing has greatly improved the ability of marketers to target individual customers. As a result, many fell that marketing’s emphasis is shifting from share of market to share of -? customer 21)A ________ is created when a company matches its core competency to opportunities it has discovered in the marketplace. -competitive advantage 22)Starbucks is presently involved in a process of assessing marketing opportunites and resources, determining marketing objectives, re-defining marketing strategies, and developing guidelines for implementation and control.
Thus, Starbucks is involved in -marketing planning 23)According to the text, a market is defined as -a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase these products. 24)Borders Books uses technology to help them identify specific customers, establish interactive dialogues with them to learn about their needs, and combine this information with their purchase histories to customize products to meet those needs. Borders Books is using the ________ approach. customer relationship management ? 25)A competitive advantage exists when a -firm matches a core competence to opportunities it has discovered in the marketplace. 26)The marketing plan is -a written document detailing activities to be performed to implement and control marketing actions 27)EXperience Limited is a company which offers tours and vacations that include participation in an extreme sport, such as hang-gliding, bungee jumping, skydiving, and motorcross. Adrian Moss… The information in EXperience Limited’s database could be best used to develop a CRM program 28)Harley-Davidson’s Harley Owner’s Group (HOG) helps to foster strong relationships between riders and their motorcycles, giving it a ________ over other motorcycle manufacturers. -sustainable competitive edge 29)Which of the following is false with regard to customer lifetime value? -All customers have equal value to a firm 30)The Boston Consulting Group classifies products that have a dominant market share but low prospects for growth and that generate more cash than is required to maintain market share as -cash cows 31)A market opportunity results from the right combination of circumstances and timing that permit and organization to take action to reach a particular target market. EXperience Limited is a company which offers tours and vacations that include participation in an extreme sport, such as hang-gliding, bungee jumping, skydiving, and motorcross. Adrian Moss… According to the BCG matrix, the hang-gliding and bungee jumping tours have been a _________ for EXperience Limited, while the skydiving and motorcross tours represent a ________. -cash cow; questionmark… ? or star 33)A new U. S. utomobile company, Specialty Motors, was established in 2004. In 2008, a recession caused disposable income to decline, and the annual amount of dollars spent by consumers dropped drastically. Specialty Motors faced a problem of trying to determine whether the economy would turn toward prosperity or toward depression. No matter what happend, Specialty Motors was also worried….. The income a consumer would use to purchase a Specialty Motors automobile is considered _______ income. -discretionary ? 34)____________ competitors provide very different products that satisfy the same basic customer need. Generic 35)Marketers who attempt to influence and change the various environmental forces have a _________ response to these forces. -proactive 36)Which of the following is not a reason that marketers try to maintain good relations with political officials? -Political officials can accept direct corporate compaign contributions. 37)More than half of the research of technology created is paid for by -the federal government 38)Meyer’s Sporting Goods, a national chain, has been doing business with Soljur Sports…. …… …. Where should he file a complaint? -Better Business Bureau? g 79 39)The Pharmaceutical Research and Manufacturers of America sets guidelines for its member firms to follow regarding the use of unethical practices. Thus, it is engaging in -self-regulation 40))Meyer’s Sporting Goods, a national chain, has been doing business with Soljur Sports…. …… What action should the BBB take against Meyers if the complaint was substained and Meyers did not change the offending practice? -Issue a warning to consumers through the local newspaper 41)Which of the following industries is most commonly regulated by state regulatory agencies? Utility companies 42)Why are marketers interested in consumers’ levels of disposable income? -It is a ready source of buying power 43)Consumers begin to become more price and calue conscious during periods of -recession 44)One way for corporations to attempt to influence the political environment is through -contributions to poilitical action committees 45)Marketers primarily focus their environmental analysis on ____ competitors. -brand 46)Which of the following are the most frequently sentenced organizational crimes? -fraud and antitrust violations 7)Companies that compete for the same limited financial resources of the same customers are known as _________ competitors. -total budget 48)When a firm has many potential competitors and tries to develop a marketing strategy to differentiate its porducts from the competitors’ products, a ___________ structure exists in the competitive environment. -monopolistic competition 49)The best approach for a company to take when monitoring its competitors is -developing a system for gathering ongoing information about competitors. 50)The amount of money received through wages, rents, investments, pensions, and subsidies is called -income