Exam 1 Review Flashcards
Green marketing refers to
A) the purchasing of products from producers whose farming practices are Fair Trade certified.
B) the marketing efforts taken by new and smaller companies that lack both the experience and resources of their major competitors.
C) the marketing efforts to produce, promote, and reclaim environmentally sensitive products.
D) the marketing of products that have in no way been altered or reprocessed by artificial means.
E) the marketing of those products made exclusively from recycled materials.
C) The marketing efforts to produce, promote, and reclaim environmentally sensitive products.
While hybrid vehicles are very fuel-efficient, they are also expensive to purchase. Still, hybrid vehicles sales have a compound annual growth rate of 88.6 percent in recent years. Several years ago, the Honda Motor Co. unveiled the hybrid version of the Honda Civic. Sales of the Civic eventually surpassed those of the Toyota Prius, making it the top-selling hybrid car in the United States. For years, Honda has experienced tremendous success with its Accords; these Honda cars are the top-selling automobiles in the United States. Where would the Honda Civic (hybrid version) and the Honda. Accord fall in the BCG business portfolio analysis matrix?
A) The hybrid Civic is a star; the Accord is a cash cow.
B) The hybrid Civic is a cash cow; the Accord is a star.
C) Due to the overwhelming success of Honda cars, both the Accord and the hybrid Civic are cash cows.
D) The hybrid Civic is a dog; the Accord is a cash cow.
E) The hybrid Civic is a dog; the Accord is a star.
A) The hybrid Civic is a star; the Accord is a cash cow.
The element of the marketing mix that describes a means of communication between the seller and buyer is known as
A) a product. B) promotion. C) the price. D) the place or distribution. E) advertising.
B) Promotion.
Marketers often discover consumer needs by
A) implementing a marketing program.
B) conducting effective marketing research.
C) balancing the marketing mix elements—the four Ps of the marketing program.
D) advertising to diverse groups of prospective buyers.
E) copying the products and services of competitors.
B) Conducting effective marketing research.
Enduring characteristics within a person or in his or her relationship with others are referred to as
A) a core value. B) an ideal self. C) a self-concept. D) a persona. E) a key trait.
E) A key trait.
Situational influences refer to
A) the five aspects of the purchase situation that impact the consumer purchase decision process: purchase task, social surroundings, physical surroundings, temporal effects, and antecedent states.
B) the temporary impediments to a consumer’s purchase decision.
C) psychological concepts that are useful for interpreting buying processes and directing marketing efforts.
D) the feelings of post-purchase anxiety that can arise from a number of different factors including social surroundings, physical surroundings, psychological effects, and precedent states.
E) both the objective and subjective attributes a consumer uses to compare different products and brands.
A) The five aspects of the purchase situation that impact the consumer purchase decision process: purchase task, social surroundings, physical surroundings, temporal effects, and antecedent states.
Age, Income, Occupation and Ethnicity are called ……………….. characteristics of the population
Demographics
The set of environmental forces that consists of the demographic characteristics of the population and its culture is referred to as
A) social forces. B) economic forces. C) consumer forces. D) cultural forces. E) market forces.
A) Social forces.
Procter & Gamble supports disadvantaged youth and provided relief after disasters strike when its customers purchase selected company products. A Toyota dealership in British Columbia, Canada, donated $50 to the Make-A-Wish Foundation of Canada for each Toyota purchased during a particular month. Both of these are examples of …………… marketing.
Ethical
SBUs with a low share of high-growth markets that may require large cash injections of cash just to maintain market share are referred to as __________.
Dogs
The marketing concept refers to
A) the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.
B) the belief that an organization should continuously collect information about customers’ needs, share this information across departments, and use it to create customer value.
C) the view that organizations should satisfy the needs of consumers in a way that provides for society’s well-being.
D) the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
E) the idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization’s goals.
E) The idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization’s goals
Strategy refers to
A) an organization’s long-term course of action designed to deliver a unique customer experience while achieving its goals.
B) an organization’s corporate tactical or action plan.
C) statement of an accomplishment of a task to be achieved by a certain time.
D) a statement of the organization’s function in society, often identifying its customers, markets, product, and technologies.
E) a road map for the entire organization for a specified future period of time, such as one or five years.
A) An organization’s long-term course of action designed to deliver a unique customer experience while achieving its goals.
In the Boston Consulting Group (BCG) model for analysis of a firm’s strategic business units, or SBUs, the vertical axis reflects
A) market growth rate. B) marketing efficiencies. C) industry attractiveness. D) market segment size. E) relative market share.
A) Market growth rate.
A subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers is referred to as a
A) strategic business unit. B) strategic industry level. C) private corporation. D) product grouping. E) marketing department.
A) Strategic business unit.
In the Maslow hierarchy of needs, those needs that are basic to survival and must be satisfied first are referred to as
A) physiological needs. B) safety needs. C) social needs. D) personal needs. E) self-actualization needs.
D) Personal needs.
