Marketing 301W All Review

Question 1

Marketing research:

Answer 1

is needed to keep marketing managers in touch with their markets.

Question 2

An outside sales force can provide customers with up-to-date inventory levels, product prices, delivery dates, and so forth by accessing information on the firm’s own:

Answer 2

intranet.

Question 3

The first thing a marketing manager should do if one of his firm’s products drops in sales volume is:

Answer 3

define the problem.

Question 4

Which of the following actions would not take place during a situation analysis?

Answer 4

Phone and email surveys

Question 5

Data which have already been collected in a previous study are called _____ data, while data that are generated by a phone survey this month of key customers are called _____ data.

Answer 5

secondary; primary

Question 6

Which of the following statements is accurate regarding qualitative research?

Answer 6

A common application of qualitative research is the focus group

Question 7

Which of the following is not a good example of the observation method of marketing research?

Answer 7

The manager of a supermarket occasionally walks through the store to see what customers are doing.

Question 8

Which of the following research methods primarily uses observation as a means of collecting data?

Answer 8

Ethnography

Question 9

The response rate to a survey affects:

Answer 9

how representative the sample is.

Question 10

In an international setting, marketers should partner with locals to conduct marketing research for all the following reasons except:

Answer 10

locals are experts who know the firm’s business the best.

Question 11

Carla and John earn $7000 each month. After paying taxes of $1000, the two pay $4000 necessities (like food, rent, insurance, and transportation). This leaves them how much in discretionary income?

Answer 11

$2000

Question 12

According to the text, the economic-buyer theory:

Answer 12

is too simplistic to explain consumer behavior.

Question 13

The Body Shop by L’Oreal, a chain of personal care products and spas, boasts of its dedication to natural cosmetic products developed without the use of animal testing or unfair labor practices. This appeal is designed to meet customers:

Answer 13

social and personal needs

Question 14

Carmela Sanchez is planning to buy a pair of running shoes. Recently, she has been noticing more Adidas advertising in magazines. This is an example of:

Answer 14

selective exposure.

Question 15

When Taco Bell shows a large close-up of a chicken taco in a television ad, it is

Answer 15

using a cue to encourage a particular response to the hunger drive.

Question 16

A person’s social class is determined by all of the following variables except _____.

Answer 16

ethnicity

Question 17

Reference-group influence would be weakest for determining which particular _____ a person buys.

Answer 17

laundry soap

Question 18

Outdoor merchandiser Bass Pro Shops creates giant retail stores filled with hunting and fishing exhibits to attract customers, entertain them, and keep them in stores for long periods of time. This retailing strategy is based on the idea that:

Answer 18

characteristics of the purchase situation influence consumer behavior.

Question 19

Consumers go through six steps when deciding to accept or reject a new idea. In this adoption process:

Answer 19

the confirmation step follows the decision step.

Question 20

For consumers making high-involvement purchases that require extensive problem solving, the steps of the consumer-decision process progress as follows:

Answer 20

need awareness, problem solving, purchase decision, post-purchase evaluation.

Question 21

Which of the following describes a generic market instead of a product market?

Answer 21

Sports enthusiast market

Question 22

A basic difference between a “generic market” and a “product-market” is:

Answer 22

how similar the competing sellers’ products are.

Question 23

Which of the following is not a homogeneous target market within the broad product market of recreational boat users:

Answer 23

water sports market.

Question 24

The first step in market segmentation should be:

Answer 24

defining some broad product-markets where you may be able to operate profitably.

Question 25

What is the trade-off for a “combiner” who seeks to offer one marketing mix to two or more submarkets at the same time?

Answer 25

The combined target market is larger than the individual segments alone, but marketing mix not as effective at meeting specific needs

Question 26

Electro Technologies, Inc. (ETI) has limited capital and wants to reduce the risk of competitors taking customers if it invests in a new product-market. Its broad product-market consists of three reasonably distinct submarkets. To identify a target market, ETI should probably focus on using the _____ approach.

Answer 26

single target market

Question 27

Which consumer-market dimension would be the most useful for a firm considering an opportunity in the hair salon and spa market?

Answer 27

Sex (demographic)

Question 28

When major airlines target business travelers because they travel often and typically pay at least three times the price for a ticket as leisure travelers, these airlines are segmenting the market primarily on:

Answer 28

rate of use.

Question 29

When using the best practice approach for segmenting markets, which of the following is not true.

Answer 29

Estimating the size of each product-market segment comes before naming possible product-markets.

Question 30

Sometimes marketing managers use a positioning statement to provide focus for a marketing mix. Which of the following is not included in a positioning statement?

Answer 30

List of competitors’ strengths

Question 31

Managers should think of the forces in the external market environment as “uncontrollable variables” because:

Answer 31

managers can’t affect the forces of the market environment.

Question 32

When narrowing down potential market opportunities for a firm, managers should do all the following except:

Answer 32

base decisions solely on direct-market-environment factors of customers, the company, and competitors

Question 33

When setting objectives for the whole firm, top management should:

Answer 33

involve the marketing manager in the objective-setting process.

Question 34

Which of the following would be an appropriate mission statement for an online retailer?

Answer 34

Our mission is to build a place where people can come to find anything they might want to buy online.

Question 35

Which of the following pieces of advice about competitors should a marketing not take?

Answer 35

“Choose opportunities that go head-to-head against the competition.”

Question 36

American legislative and economic thinking assumes that:

Answer 36

competition among many small firms helps the economy

Question 37

Which of the following is least likely a result of shifts in the cultural and social environment?

Answer 37

A toy manufacturer recalls a playpen with a defective latch and Toys ‘R’ Us stores remove them from the shelf.

Question 38

Gross domestic product (GDP):

Answer 38

is affected by economic conditions and the productivity of workers in the country.

Question 39

Which of the following population groups is the most techno-savvy?

Answer 39

Gen Y

Question 40

According to the General Electric strategic planning grid, a business that is the strongest in its industry:

Answer 40

is a good prospect, provided the industry has at least medium attractiveness.

Question 41

Retailers who report and analyze consumer sales data after Black Friday weekend are engaging in:

Answer 41

controlling.

Question 42

“Marketing strategy planning” means:

Answer 42

finding attractive opportunities and developing profitable marketing strategies

Question 43

The difference between target marketing and mass marketing is that target marketing

Answer 43

focuses on specific customers, while mass marketing aims at an entire market.

Question 44

Capital One television ads urge that “everyone” likes getting 50 percent more cash back by using the company’s cash rewards credit card. This appeal illustrates:

Answer 44

mass marketing.

Question 45

When Herbal Essences offers “dollar-off coupons” to adult women to try to get them to try its shampoos and conditioners, this is an example of:

Answer 45

sales promotion.

Question 46

Ideally, a good marketing mix should:

Answer 46

flow logically from all the relevant dimensions of a target market.

Question 47

To be able to gauge the success of marketing programs, marketers must

Answer 47

establish goals against which results will be measured.

Question 48

Which of the following scenarios illustrates customer lifetime value?

Answer 48

Consumer purchases Patagonia hiking backpack and begins buying Patagonia-brand shoes

Question 49

When Colgate encourages its current customers to brush more often by taking their toothbrush and toothpaste to work with them, which market opportunity is Colgate pursuing?

Answer 49

Market penetration

Question 50

A restaurant franchise that operates restaurants in virtually every city of the U.S. should consider:

Answer 50

seeking international opportunities.

Question 51

All of the following should be determined by the marketing department of a firm except:

Answer 51

actually making the product.

Question 52

The study of marketing is important for all the following reasons except:

Answer 52

marketing affects every decision in a person’s life.

Question 53

Macro-marketing is a social process that matches _____ and accomplishes the objectives of society.

Answer 53

supply and demand

Question 54

Which of the following is the best example of management thinking during the “production era”?

Answer 54

“If we produce a good product, customers will find us and buy it.”

Question 55

The following is true in a command economy:

Answer 55

price is not a good indicator of value.

Question 56

A firm with a marketing orientation is most likely to:

Answer 56

advertise how a product meets customers’ needs.

Question 57

From the perspective of the marketing concept, a manager who wants to increase profits needs to:

Answer 57

take the customer’s point of view.

Question 58

The term “micro-macro dilemma” means that:

Answer 58

what is “good” for some producers and consumers may not be good for society as a whole.

Question 59

Which of the following does not demonstrate social responsibility in marketing?

Answer 59

Google shares user data with third-party service providers and governments.

Question 60

Which of the following criticisms focuses most directly on a macro view of marketing, rather than a micro view?

Answer 60

Marketing exploits the poor and the uneducated.