General Marketing Deck Flashcards
The term market is best defined as
A. Organizations with products which satisfy people’s needs and wants
B. People with the desire and the need for a product
C. Organizations with the need and desire for a product
D. People with the desire and ability to buy a specific product
D
Which of the following statements about customer value is most true?
A. Firms gain loyal customers by providing unique value
B. Loyal customers are less profitable
C. Research suggests that all firms can provide value to everyone
D. It is impossible to place a dollar value on a loyal, satisfied customer
A
Dub’s Drive-in restaurants fell on hard times when they focused on internal efficiencies to streamline the production of burgers and fries. Recently, Dub’s has focused more strongly on the customer. Dub’s rebuilt many of their restaurants to make them more modern when their market research department discovered this customer desire. Also, Dub’s marketing department now centers their advertising campaigns on the quality of food Dub’s provides. As a result, Dub’s has posted profits, even in difficult economic times. Dub’s switched from a _____ to a _____ to achieve their recent success.
A. marketing orientation, market orientation
B. sales orientation, marketing orientation
C. production orientation, marketing orientation
D. production orientation, sales orientation
C
Katelyn shops at Boutique Clothing Stores all the time. She thinks that their clothes are cute, and they last a long time because they never go out of style. Katelyn usually shops at a mall that is only five minutes away from her home, but she can always find Boutique Clothing Stores in other locations when she is out of town. Their prices are fair, and Katelyn can return the clothes if there is a problem, no questions asked. Boutique Clothing Stores create:
A. Convenience
B. Brand awareness
C. Customer value
D. Time utility
C
Your neighbor is tired of conventional soft drinks and wants something different. Coincidentally, ABC Beverages, Inc. has begun distributing lemonade through the supermarket at a price comparable to that of soft drinks. Which of the conditions needed for marketing to occur is described in this situation?
A. A physical location for an exchange to take place
B. One-way communication
C. Time and place utility
D. Two parties with unsatisfied needs
D
Which of the following would a marketer use as a synonym for controllable marketing mix factors?
A. Price, product, production and promotion
B. “STP” marketing
C. The four Ps
D. The five Cs
C
As a result of __________, consumers do not remember all the information they see, read or hear, even just minutes after exposure to it.
A. Selective perception
B. Subliminal discrimination
C. Selective retention
D. Selective exposure
C
Health Equipment Inc. makes hospital beds and wheelchairs from component parts and materials it buys. It sells its products to hospitals, nursing homes and retailers of health care products. Health Equipment Inc. operates in a(n) __________ market.
A. Industrial
B. Demographic
C. Government
D. Consumer
E. Reseller
A
The office for an upstart talent promoter needs a new fax machine that will print at three seconds per page (instead of five seconds per page like the one he is using now) and that has both local and network printing capabilities. His purchase of a replacement fax machine would be an example of a
A. Standard buy
B. New buy
C. Modified rebuy
D. Straight rebuy
C
Concert Halls Inc. provides the stage, the roof system and lighting and sound for outdoor concerts and theaters. It is typically hired by the organization sponsoring the event. When the economy slows down, consumers are more likely to save their money for a rainy day than buy a concert or theater ticket. The number of concert and theater events determines how many times the company gets to provide its services. Demand for the services provided by Concert Halls Inc. is __________ demand.
A. Derived
B. Applied
C. Industrial
D. Unitized
A
Melissa has just told her supervisor, “I’m so glad I bought my smart phone rather than those other phones I was looking at. I can check my email, access my music and even search the web with it. It’s like having a mini-computer in my pocket”. Which stage of the consumer purchase decision process is demonstrated by Melissa’s conversation?
A. Information search
B. Post-purchase behavior
C. Problem recognition
D. Alternative evaluation
B
To lower costs and reduce manufacturing time, JRQ Inc. has people work together on important purchases, including individuals in the roles of deciders, gatekeepers and others as needed. This kind of cross-functional group is known as a(n)
A. Buying center
B. Supply partnership
C. Negotiating arm
D. Status quo committee
A
Which of the following are not products that assist directly or indirectly in providing products for resale?
A. B2B goods
B. Industrial goods
C. Organizational goods
D. Consumer goods
D
A small retailer wanted to know whether people preferred additional morning or evening hours of operation. To collect the data the owner stood outside his shop and asked the first 25 people who walked by. This approach to data collection is an example of
A. Extrapolation
B. Probability sampling
C. Nonprobability sampling
D. Statistical inference
C
Remi’s Roses is a successful florist shop located in a college town. Graduation ceremonies are right around the corner, and Remi is trying to prepare ahead of time. In order to ensure she has an adequate supply of the most popular flower, Remi researches and analyzes her sales records from last year. She discovers that the week before graduation last year, Remi’s Roses sold 500 bouquets of pink roses amounting to $25,000 in sales. What MIS Data Classification did she use?
A. Internal and Exploratory
B. Internal and Secondary
C. Internal and Primary
D. External and Primary
B
Mychal and Lori want to test their new drink called “Procrastination Potion”, which prevents procrastination. They decide to create an experiment in which they vary the amount of Chemical X that is present in the drink. The amounts of Chemical X present in three different test versions are 10 ml, 20 ml, and 30 ml. Mychal and Lori randomly assign 300 MAR3023 students to each version of the drink and measure their perceptions of the sweetness of the drink. In this experiment, what are the independent and dependent variables?
A. Independent: Chemical X
Dependent: Sweetness
B. Independent: Sweetness
Dependent: Procrastination
C. Independent: Chemical X
Dependent: MAR 3023 students
D. Independent: Sweetness
Dependent: Chemical X
A
When researchers observe consumers’ shopping patterns using video cameras placed throughout retail stores, the researchers are in which stage of the five-step marketing research approach?
A. Collecting relevant information
B. Determining the target market
C. Defining the alternatives and uncertainties
D. Developing and implementing the plan
A
Nielsen is conducting a mail survey for a large consumer goods company. They send the survey to a group of 5000 randomly selected individuals. After two weeks, they have received 1000 responses. Not satisfied with the number of people who have returned the survey, they decide to send it again to the 4000 people who have not yet responded. After another two weeks, they receive an additional 2500 responses. The response rate for Nielsen’s survey is:
A. 62.5%
B. 41.3%
C. 38.9%
D. 70%
D
__________ involves aggregating prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marketing action.
A. Targeting
B. Market differentiation
C. Market diversification
D. Market segmentation
D
What does the term product positioning refer to?
A. An old and outdated concept no longer worthy of consideration in marketing planning
B. A careful analysis of cross tabulations
C. Shelf locations in major chain, grocery and department stores
D. The place a product offering occupies in consumers’ minds on important attributes
D
John is flipping through a magazine for dedicated gamers. His sister gave him a subscription for his birthday. He notices an ad in the magazine for a cool new gaming headset with stereo and microphone built in! By placing its ad in the gaming magazine, the headset company is employing which approach to achieving reachability of its target segment?
A. Selective Targeting
B. Market Tracking
C. Promotion
D. Self Selection
A
Back in the day there was only one flavor of chewing gum. However, Mr. Jones was a real marketing genius and realized that not all people were extremely satisfied with one type of gum. He did some research and found that some people wanted mint-flavored gum, others preferred citrus, and still others wanted strawberry. Mr. Jones discovered:
A. Market Segments
B. Market Reachability
C. Target Markets
D. Positioning
A
Barney and Ted are working on a group project for one of their classes. Their assignment requires them to segment organizational markets in the banking industry. They need to decide which banks are most likely to purchase a time management program to track employee hours. Barney and Ted have segmented the market based on how the banks would use the program, e.g., for commercial banking, for market portfolio management, or for real estate lending. Which basis for segmenting organizational markets did Barney and Ted use?
A. Type of Buy
B. Concentration
C. Application
D. Size
C
People who live active, outdoor lives are part of the target market for Active Lives, Inc., a retail outdoor outfitter. This suggests that Active Lives, Inc. would segment the market based on which type of customer variable?
A. Demographic
B. Geographic
C. Socioeconomic
D. Psychographic
D
The __________ for Boston Beer Company is “We are the Boston Beer Company. We make the best beer in America”.
A. Functional philosophy
B. Mission
C. Corporate code
D. Business portfolio
B
Waffles Unlimited had decided to change their marketing budgeting approach. They used to only allocate leftover funds to marketing, but now they have decided to allot a specific amount up front for each promotional program they have planned for the year. They are switching from _____ to _____ budgeting.
A. Affordable; Competitive Parity
B. Optimization; Objective and Task
C. Optimization; Percentage of Sales
D. Affordable; Objective and Task
D
The evaluation, or control, phase of the strategic marketing process includes
A. Taking actions to solve problems and exploit opportunities
B. Measuring results against quantified goals
C. Comparing goals and results to identify deviations
D. All of the above
D
Now that it is December and the holiday season is approaching quickly, Grinch Inc. wants to look at last month’s results and make some changes to their marketing so it can be a prosperous season. Cindy Lou Who, CEO of Grinch Inc., believes that it is a good idea to review everything they have been doing as a company. What part of the strategic marketing process is Cindy Lou Who encouraging Grinch Inc. to perform?
A. Urgency Phase
B. Implementation Phase
C. Improvement Phase
D. Control Phase
D
Anthony is the president of a newly formed company that specializes in audio and video technology. Anthony recently met with a consultant who helped him develop a marketing plan for his company. While the two were meeting the consultant told Anthony about the “Master Marketing Objective”, which is:
A. ROI
B. Positioning
C. Market Share
D. Profit
C
. Consider the laundry detergent market shares shown below. Suppose the laundry detergent market growth rate is 4% annually.
Laundry Detergent Market Shares:
Tide 38.7%
All 21.5%
Shout 8.3%
Snuggle 7.2%
Arm and Hammer 3.3%
What is Shout’s position in the BCG matrix?
A. Star
B. Cash Cow
C. Question Mark
D. Dog
D
