midterm
1.Megatrends, which are unpredictable, short-lived, and without social, economic, and political significance. Examples of these Megatrends would be the Pet Rock, the Hula Hoop and Pokemon Go.
True
False
QUESTION 2
California Bank & Trust's company's marketing information system should be a mix of what managers think they need, what managers really need, and ________.
what the marketing research department is able to do
what consumers are willing to consume
what the government policies allow
what is acceptable at the industry level
what is economically feasible
QUESTION 3
You are the Chief Privacy Officer of your company and you are researching privacy. Which of the following is NOT one of the reasons consumers are concerned about privacy?
Consumers worry that they will be robbed or cheated.
Consumers worry that their information will be used to customize their offers.
Consumers believe private information will be used against them.
Consumers believe they will be bombarded by solicitations.
Consumers believe that children will be targeted by ads.
QUESTION 4
1. A ________ is a set of procedures and sources managers, such as those at Caterpillar, Inc. use to obtain everyday information about developments in the marketing environment.
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data warehousing system |
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viral marketing campaign |
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product management system |
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marketing intelligence system |
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sales information system |
5 points
QUESTION 5
1. Orica Inc. competes in the market for commercial explosives. The company recently changed its business model from just selling explosives to managing an entire blast in a quarry. This customer-solution-based approach to the sale of explosives is an example of ________.
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systems selling |
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straight rebuying |
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customer referencing |
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derived demand |
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channel consolidation |
5 points
QUESTION 6
1. Gina is in charge of the buying decisions in her firm. She is influenced by a YouTube Video that provides helpful advice and definitions of product information, including how to use the new tools. YouTube experts are influencers because they help provide information on alternatives to buy.
True
False
QUESTION 7
1. Margaret has the role of the ________ in a buying center. She is the person that has the power to prevent sellers or information from reaching other members of the buying center.
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initiator |
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influencer |
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decider |
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gatekeeper |
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approver |
5 points
QUESTION 8
1. The demand for business goods such as airplane parts is ultimately derived from the demand for ________.
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raw materials |
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consumer goods |
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services |
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business solutions |
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e-commerce |
5 points
QUESTION 9
1. Within the heart of Toyota's marketing program is the firm's ________, its tangible offering to the market.
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strategy |
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product |
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brand |
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value |
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people |
5 points
QUESTION 10
1. For Netflix and similar companies, the success of online purchasing resulted in ________ in the delivery of products and services by intervening in the traditional flow of goods through distribution channels.
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disintermediation |
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diversification |
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reduced competition |
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deregulation |
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privatization |
5 points
QUESTION 11
1. In most countries, ________ goods represent more than half of production, distribution, and marketing efforts.
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Durable |
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Impulse |
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Physical |
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Luxury |
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Intangible |
5 points
QUESTION 12
1. As the marketing director for a car dealer, you need to gather information. Which of the following types of marketing research firms gathers consumer and trade information and then sells it for a fee (e.g., Nielsen Company)?
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custom marketing research firms |
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syndicated-service research firms |
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specialty-line marketing research firms |
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generic marketing research firms |
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focused marketing research firms |
5 points
QUESTION 13
1. An item in a questionnaire states that "most politicians cannot be trusted." Respondents are required to provide their answers by choosing any one of the following options: 1) Strongly disagree, 2) Disagree, 3) Neither agree nor disagree, 4) Agree, 5) Strongly agree. This is an example of a ________.
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semantic differential |
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word association question |
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Thematic Appreciation Test (TAT) |
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Likert scale |
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dichotomous question |
5 points
QUESTION 14
1. The Nordstrom, Inc. customer-performance scorecard tracks the satisfaction of various constituencies who have a critical interest in and impact on the company's performance: employees, suppliers, banks, distributors, retailers and stockholders.
True
False
5 points
QUESTION 15
1. General Products Laboratories warehouses and delivers 3M's medical and surgical products to hospitals across the United States. The best description of this form of alliance would be a(n) ________.
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product alliance |
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logistics alliance |
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pricing collaboration |
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indirect collaboration |
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promotional alliance |
5 points
QUESTION 16
1. Jim wants to purchase a bicycle. After a customer places an order at BigPurchase.com, the company processes the customer's payment information, sends the order to the nearest warehouse, and ships the order via FedEx. This is best described as the ________ process.
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market-sensing |
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customer acquisition |
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customer relationship management |
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fulfillment management |
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new-offering realization |
5 points
QUESTION 17
1. Marketing plans for companies like Samsung who do business manufacturing are becoming more production oriented because of the high costs of doing business and the ability to improve internal processes in today's economy.
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False |
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True |
5 points
QUESTION 18
1. Please select the best true statement about marketing plans for a company such as Patagonia.
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They can be independently developed without worrying about other functional areas. |
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They provide direction and focus for a brand, product, or company. |
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They are usually profit-oriented. |
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They are of limited use to nonprofit organizations. |
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They are typically five-year plans and they lay out the strategies required to achieve targets in those five years. |
5 points
QUESTION 19
1. The most attractive segment is one in which entry barriers are low and exit barriers are high.
True
False
5 points
QUESTION 20
1. Jake is trying to segment his target market. The ________ criterion for useful market segments, a segment should be the largest possible homogenous group worth going after with a tailored marketing program.
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measurable |
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substantial |
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accessible |
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differentiable |
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actionable |
5 points
QUESTION 21
1. The Double Tree and Marriott Hotels customizes rooms and lobbies according to location. Northeastern hotels are sleeker and more cosmopolitan. Southwestern hotels are more rustic. This is an example of ________ segmentation.
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demographic |
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behavioral |
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psychographic |
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geographic |
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cultural |
5 points
QUESTION 22
1. A marketer is interested in segmenting a business market on ________ if the marketer intends to eventually segment the market based on loyalty and attitudes toward risk.
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situational factors |
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purchasing approaches |
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personal characteristics |
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operating variables |
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demographic variables |
5 points
QUESTION 23
1. Headphones manufacturer ACYR has to choose between two options for sourcing parts: Italy-based Ricaro Inc. and US-based Radar Z, Inc. How can Ricaro, Inc reduce the total customer cost for ACYR?
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by absorbing some risk by offering a warranty |
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by improving the functional aspects of the products |
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by augmenting the psychological benefits of the products |
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by training service personnel to improve their skills |
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by investing in brand building for the products |
5 points
QUESTION 24
1. Which of the following is an example of focusing disproportionate effort on high-profit customers?
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In addition to bicycles, 2Wheels sells biking gear such as helmets, bottles, jackets and other accessories. |
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2Wheels has a club for its regular customers, organizing cycling events and parties for them. |
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Though 2Wheels previously offered free delivery, it now charges for deliveries made outside the city. |
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2Wheels allows existing customers to upgrade to a newer model at less than the sticker price by trading in their older model. |
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2Wheels encourages customers to send in their suggestions for product improvement. |
5 points
QUESTION 25
1. Your boss Susan has just told you to follow the 80-20 rule. She knows that the 80-20 rule reflects the idea that ________.
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20 percent of the company's profits are generated by the top 80 percent of customers |
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the top 20 percent of customers are highly satisfied and 80 percent of customers will recommend the company to a friend |
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20 percent of customers are unprofitable, and 80 percent make up a company's profits |
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the top 20 percent of customers often generate 80 percent of the company's profits |
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any new product will be accepted by 20 percent of the customers immediately, but 80 percent of the customers will be up for grabs throughout the product's life cycle |
5 points
QUESTION 26
1. Customers interact with an airline in several ways. A customer touch point for Singapore Airlines would be an item such as ________.
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ease of access to the airport |
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a mechanic's ability to service the airplanes |
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the reservations desk |
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the value of air travel versus surface transportation |
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competency of a travel agent |
5 points
QUESTION 27
1. In Japan and other areas of the world, the relatively homogeneous and enduring divisions in a society, which are hierarchically ordered and whose members share similar values, interests, and behavior constitute a ________.
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culture |
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subculture |
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social class |
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family |
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group |
5 points
QUESTION 28
1. Ricardo is a computer service technician in Spain. People in his neighborhood usually depend on his suggestions for purchasing any computer accessory or hardware, as they believe that he has access to far more information on computer technology than the average consumer. The neighbors are also aware that Ricardo has the required knowledge and background for understanding the technical properties of the products. Within this context, Ricardo can be called a(n) ________.
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transactional leader |
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opinion leader |
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role model |
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gate-keeper |
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international marketer |
5 points
QUESTION 29
1. When you apply the concepts of Maslow's hierarchy of needs model, you learn that belonging is about love, family, intimacy and a sense of connection.
True
False
5 points
QUESTION 30
1. GMC uses the caption "Magnify the Experience" in the ad to promote its SUV automobile, the GMC Adventurer. The ad features the car traveling through an uneven, rocky terrain. Within the context of Jennifer Aaker's brand personality analysis, GMC is most likely to be strong on which of the following traits?
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sincerity |
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intelligence |
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imagination |
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sophistication |
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ruggedness |