Weekly Quizes

Question 1

Marketing strategy addresses a specific target market with a cohesive marketing mix of:

Answer 1

Product, price, place, promotion

Question 2

“How do I come up with a killer product idea?”

Answer 2

Ask, “What problems are people trying to solve.”

Question 3

For every pair of Toms shoes purchased, the company donates a pair of shoes to a child in need. Which marketing philosophy does Toms use?

Answer 3

Societal

Question 4

Marketing creates, communicates, and delivers value to the firm’s chosen customers. This enables the firm to attract and keep customers. Attracting and keeping customers drives _____________ for the firm.

Answer 4

Profitability

Question 5

The path to profitability starts with:

Answer 5

Understanding customers within the context of the marketing environment

Question 6

For the United States, people born during the same time period and who share similar life experiences represent:

Answer 6

Generational cohorts

Question 7

Old Navy sells fashionable clothing at relatively low prices. What type of income is used to purchase clothing and other necessities?

Answer 7

Disposable income

Question 8

Claire is marketing manager for a new line of Italian food. The company wants to launch this new line in Latin America. Claire knows that social forces affect consumers’ attitudes, beliefs, lifestyle, and ultimately consumption behavior. Which social force has the most influence on Claire’s new product line–affecting what people eat?

Answer 8

Culture

Question 9

Eco Tech takes advantage of its ability to mass-produce water filters at relatively low costs, which its competitors cannot replicate. This is an example of whcih part of the SWOT analysis?

Answer 9

Strength

Question 10

Andrew, a research analyst for Nestle, has been gathering information about age, gender, and income for the Scandinavian market. Andrew is gathering:

Answer 10

Demographics

Question 11

The overall attractiveness of a foreign market depends on the risks and rewards of conducting business in the country of interest. Inadequate protection of intellectual property in a number of developing countries has caused some U.S. companies to avoid certain foreign markets because of the ____________ risk.

Answer 11

Legal

Question 12

Starbucks announced that it plans to open cafes across India, as a combined effort with the Indian company TATA Global Beverages Limited. Each company will own 50% of the undertaking, called TATA Starbucks Limited. This is an example of which global market entry strategy?

Answer 12

Joint Venture

Question 13

When The Clorox Company purchased the right to manufacture and sell products under the Brita name in the United States, Clorox entered into a(n) _________ agreement with Brita GmbH.

Answer 13

Licensing

Question 14

The global marketing strategy based on a standard platform combined with some modification for the market is called:

Answer 14

Glocal

Question 15

When P&G entered Eastern Europe with household care products and beauty products, the company changed the packaging and pricing for many products to adapt to Eastern European customers. This is an example of:

Answer 15

Customization

Question 16

Claire is under a lot of stress at work. Her position is on the line. She needs to close a sale soon. She tells herself that it is okay to possibly break the rules because she is trying to make enough money to support her family. According to the fraud triangle, which aspect is missing from this potentially unethical situation?

Answer 16

Opportunity

Question 17

Your next-door neighbor tells you that you must buy a new car every four years because after four years, the engines break down. He feels that car manufacturers design cars this way on purpose to trap consumers into constantly buying new vehicles. Your neighbor believes in which myth of unethical marketing?

Answer 17

Marketers believe in planned obsolescence

Question 18

You and a friend go out to dinner at an expensive restaurant. The service is terrible. Your food is cold, so you ask the server to take it back. He says there is nothing he can do. You and your friend go home and write a negative review on Yelp, a restaurant rating website. This is an example of:

Answer 18

Consumer power

Question 19

For marketers, the three components of sustainability are:

Answer 19

Consumers’ wants, the company’s requirements, and society’s long-term interests

Question 20

The number one reason new products fail is because:

Answer 20

Products don’t deliver functional or emotional benefits to consumers

Question 21

Suppose your brand team decides to conduct research to understand consumers’ perceptions of brands and brand attributes. Specifically, you want to generate perceptual maps to show the relationship among brands and brand attributes in your industry. Which analytical method is most useful for this research project?

Answer 21

Discriminant analysis

Question 22

Marketing employs some of the most sophisticated analytical methods used in business. Suppose your client provides you a data set of survey responses from credit card users and asks you to identify market segments based on the data. Which analytical method is most useful for this research project–classifying credit card users into various segments based on how they respond to demographic and behavioral questions?

Answer 22

Cluster analysis

Question 23

In short, the primary purpose of marketing research is to:

Answer 23

Support marketing decisions

Question 24

Often the reason research results are invalid is because the data sample is irrelevant–coverage error. To minimize coverage error, researchers should:

Answer 24

Qualify or screen respondents for the study

Question 25

The Commerce Department reported this week that single-family home starts surged 7.0 percent to an annual rate of 628,000 units last month, the highest level in six months. If Home Depot used this report as a factor in their store expansion plans, they would be using:

Answer 25

Secondary data