Which of the following is NOT part of the marketing mix, also known as the "four Ps"?
a. profit
b. product
c. price
d. place
e. promotion
a. profit
-Unit 1
Which is the correct association between the AMA's definition of marketing and the corresponding element of the marketing mix?
a. creating offerings > Product
b. communicating offerings > Product
c. delivering offerings > Price
d. exchanging offerings > P
a. creating offerings > Product
-Unit 1
Which element is included in the bundle that is the company's offering to the customer?
a. tangible elements
b. place
c. supply chain
d. advertising
e. end user
a. tangible elements
-Unit 1
How might a marketer increase a consumer's personal value equation?
a. decrease the benefits offered and associated with the exchange
b. increase the price associated with the exchange
c. reduce the hassle and increase the benefits associated with the exc
c. reduce the hassle and increase the benefits associated with the exchange
-Unit 1
Which of the following examples best illustrates the marketing concept?
Select one:
a. A mail-order company begins using less expensive packing material to increase profits per sale.
b. A manufacturing firm opens a new distribution facility closer to the
c. A catering firm decides to expand its hours of operations to better serve working mothers.
-Unit 1
Marketing information systems involve all of the following EXCEPT
Select one:
a. a system for collecting market intelligence on an ongoing basis.
b. a system for recording marketing research information.
c. a system for collecting test market information.
c. a system for collecting test market information.
-Unit 1
Market trends can be uncovered internally utilizing
Select one:
a. industrial espionage.
b. data mining techniques.
c. repositioning.
d. alpha testing.
e. product launch.
b. data mining techniques.
-Unit 1
Data is combined with statistical techniques by
Select one:
a. marketing interns.
b. market trend analysis.
c. analytics software.
d. CRM.
e. the intranet.
c. analytics software.
-Unit 1
Stealing product strategy information from a competitor is known as
Select one:
a. industrial espionage.
b. competitive intelligence.
c. product investigation.
d. consumer protection.
e. strategic marketing.
a. industrial espionage.
-ChaptUniter 1
The advantage of market research is that it
Select one:
a. can be expensive.
b. takes time.
c. can help make a good decision.
d. is infallible.
e. is always done.
c. can help make a good decision.
-Unit 1
A value proposition
Select one:
a. states the firm's strategy for entering new markets with new product or service offerings.
b. states the firm's marketing objectives.
c. states the firm's pricing strategy.
d. states the buyer's purchase incentives.
e. s
e. states the specific benefits a product or service offering provides to a buyer.
-Unit 2
The purpose of a value proposition is to
Select one:
a. provide the firm with a reason why buyers prefer their product or service offering.
b. provide the buyer with a reason why the product or service is superior to competing offers.
c. provide the buyer
b. provide the buyer with a reason why the product or service is superior to competing offers.
-Unit 2
The _____ process helps an organization allocate its resources under different conditions to accomplish its objectives, deliver value, and be competitive in a market-driven economy.
Select one:
a. corporate planning
b. strategic planning
c. business plann
b. strategic planning
-Unit 2
If a company has multiple planning levels,
Select one:
a. the plans must be consistent and all must help achieve individual goals.
b. the plans must be approved by all departments within an organization.
c. he plans must be adhered to regardless of extern
d. the plans must be consistent and all must help achieve the overall goals of the corporation.
-Unit 2
The firm's _____ states the purpose of the organization and why it exists.
Select one:
a. value proposition
b. business plan
c. marketing plan
d. mission statement
e. financial report
d. mission statement
-Unit 2
The group of customers toward which an organization directs its marketing efforts is known as the _____.
Select one:
a. constituency
b. target market
c. direct market
d. value group
e. key market
b. target market
-Unit 2
Marketing plans aid CMOs in
Select one:
a. setting their organization's marketing expectations.
b. funding employment salaries and benefits.
c. understanding the roles of their customers.
d. setting customer service tolerance zones.
e. tracking advertisem
a. setting their organization's marketing expectations.
-Unit 2
The ____ is a document that is designed to communicate the marketing strategy for an offering.
Select one:
a. research paper
b. market plan
c. mission statement
d. annual report
e. execution strategy
b. market plan
-Unit 2
The marketing plan should constantly answer the question
Select one:
a. "What is the biggest challenge of the company?"
b. "Why should I invest in this plan?"
c. "How will the company aid shareholders?"
d. "How will this help the CMO?"
e. "Why should I bu
b. "Why should I invest in this plan?"
-Unit 2
The _____ section of the marketing plan offers the opportunity to create a compelling argument as to what you intend to do and why others should invest in the strategy.
Select one:
a. executive summary
b. strategy
c. business challenge
d. market
e. conclu
b. strategy
-Unit 2
An individual's disposition as other people see it is known as _____.
Select one:
a. personality
b. self-concept
c. ideal self
d. psychographics
e. motivation
a. personality
-Units 1-3
What is the correct order of strategic development for today's marketing organizations?
Select one:
a. the mission statement, the corporate strategy, and the marketing plan
b. the corporate strategy, the mission statement, and the marketing plan
c. the ma
a. the mission statement, the corporate strategy, and the marketing plan
-Units 1-3
A scan of the _____ should include any new government regulations as well as legislation.
Select one:
a. political climate
b. technological environment
c. demographic climate
d. economic climate
e. social and cultural environment
a. political climate
-Units 1-3
Purchasing a product with no planning or forethought is called _____.
Select one:
a. extended problem solving
b. impulse buying
c. high-involvement purchasing
d. evaluation implementation
e. postpurchase dissonance
b. impulse buying
-Units 1-3
The personal value equation of the customer is reflected in the formula:
Select one:
a. Value = Benefits offered + [Price ? Hassle]
b. Value = [Price + Hassle] + Benefits received
c. Value = Price ? [Benefits offered + Hassle]
d. Value = Benefits received
d. Value = Benefits received ? [Price + Hassle]
-Units 1-3
_____ are groups of people within organizations who make purchasing decisions .
Select one:
a. Resellers
b. Buying centers
c. Gatekeepers
d. Influencers
e. Marketers
b. Buying centers
-Units 1-3
Threats include
Select one:
a. internal positive conditions of the firm.
b. external positive conditions of the macroenvironment.
c. collaborative factors with competitors.
d. internal negative conditions of the firm.
e. external negative conditions of th
e. external negative conditions of the macroenvironment.
-Units 1-3
_____ combines the lifestyle traits of consumers and their personality styles with an analysis of their attitudes, activities, and values to determine groups of consumers with similar characteristics .
Select one:
a. Target market analysis
b. Psychographi
b. Psychographics
-Units 1-3
Which element of the marketing mix would include advertising and sales?
Select one:
a. profit
b. product
c. price
d. place
e. promotion
e. promotion
-Units 1-3
_____ occurs when a small change in demand by consumers has a big effect through the chain of businesses that supply all of the goods and services that produce it.
Select one:
a. Joint demand
b. Assorted demand
c. Shifting demand
d. Fluctuating demand
e.
d. Fluctuating demand
Units 1-3
When the Elliott Corporation decides to exhibit its products in an industry trade show,it is performing which marketing activity
Select one:
a. creating offerings
b. communicating offerings
c. delivering offerings
d. exchanging offerings
e. providing offe
b. communicating offerings
-Units 1-3
A _____ strategy involves offering products that are unrelated to other existing products produced by the organization .
Select one:
a. market-penetration
b. product-development
c. market-development
d. diversification
e. downsizing
d. diversification
-Units 1-3
_____ seeks to measure or describe phenomenon so as to answer the questions who, what, where, when and how.
Select one:
a. Descriptive research
b. Causal research
c. Projective research
d. Experimental research
e. Exploratory research
a. Descriptive research
-Units 1-3
A fashion design house purchased a music company. This is an example of a _____ strategy.
Select one:
a. market-penetration
b. product-development
c. market-development
d. diversification
e. downsizing
d. diversification
-Units 1-3
Lucy lists the positive factors associated with her company, such as sales growth, world class distribution, and industry recognition for product quality. She is listing the company's _____.
Select one:
a. weaknesses
b. opportunities
c. allowances
d. stre
d. strengths
-Units 1-3
Neuroticism refers to
Select one:
a. how diligent you are.
b. how outgoing or shy you are.
c. how open you are to new experiences.
d. how easy you are to get along with.
e. how prone you are to negative mental states.
e. how prone you are to negative mental states.
-Units 1-3
Characteristics of secondary research include
Select one:
a. it is time consuming.
b. the data is collected for another purpose.
c. it is work intensive.
d. it is relatively expensive.
e. it is tailored to the research at hand.
b. the data is collected for another purpose.
-Units 1-3
The business market is characterized as having
Select one:
a. many customers, geographically dispersed.
b. longer decision cycles.
c. smaller total dollar amounts due to fewer transactions.
d. more reliance on advertising, Web sites, and retailing.
e. mor
b. longer decision cycles.
-Units 1-3
An example of a primary data resource is:
Select one:
a. syndicated research.
b. internal records.
c. marketing intelligence.
d. an in-depth interview.
e. J.D. Power & Associates.
d. an in-depth interview.
-Units 1-3
Michael Porter's five forces model includes all of the following EXCEPT:
Select one:
a. rivalries of existing companies.
b. threat of substitute products.
c. bargaining power of buyers.
d. threat of supplier penetration development.
e. threat of new entra
c. bargaining power of buyers.
-Units 1-3
Offerings are _____.
Select one:
a. products and services designed to deliver value to customers
b. services designed to satisfy customer needs
c. products designed to satisfy customer wants
d. products and services designed to deliver value to a firm
e.
a. products and services designed to deliver value to customers
-Unit 4
a. enjoyment of a product and its disposal are important in understand consumer needs.
b. marketers should consider what services it takes for the customer to acquire their offerings.
c. sales personnel and marketing can drive consumerism.
d. the best way
d. the best way to capture market share is to create and manufacture better products at lower prices.
-Unit 4
A group of related offerings is known as a _____.
Select one:
a. technology platform
b. product mix
c. service mix
d. product category
e. product line
e. product line
-Unit 4
_____ are typically thought of as commodities, so price and availability are very important in relation to the competition.
Select one:
a. Original equipment manufacturing offerings
b. Capital equipment offerings
c. Facilitating offerings
d. Raw materials
d. Raw materials offerings
-Unit 4
A brand is _____.
Select one:
a. simply a label
b. a name, picture, design, or symbol used by a seller to differentiate their offerings
c. a picture that is similar to another company's design
d. a slogan that conveys the firm's image
e. an advertising ca
b. a name, picture, design, or symbol used by a seller to differentiate their offerings
-Unit 4
In the idea screening stage, companies evaluate new offerings by determining
Select one:
a. if the product costs more during idea generation than expected.
b. the product's features.
c. if the product fits with the image and corporate strategy.
d. the pro
c. if the product fits with the image and corporate strategy.
-Unit 4
The feature specifications process begins with a strong understanding of
Select one:
a. what risks are involved.
b. what opportunity costs are entailed.
c. what consumers want and need.
d. what the financial feasibility of the product is.
e. what the mark
c. what consumers want and need.
-Unit 4
_____ not only tests whether the offering works as advertised, but it also tests the offering's delivery mechanisms, service processes, and other aspects of marketing the product.
Select one:
a. Concept testing
b. Product testing
c. Alpha testing
d. Prima
e. Beta testing
-Unit 4
The stage in the product life cycle when the market is saturated with competitors is known as the _____ stage.
Select one:
a. maturity
b. growth
c. introduction
d. decline
e. downsizing
a. maturity
-Unit 4
A(n) _____ is utilized to get back the money invested in creating a new product offering.
Select one:
a. investment pricing strategy
b. skimming pricing strategy
c. cost-based pricing strategy
d. penetration pricing strategy
e. competitor-based pricing st
b. skimming pricing strategy
-Unit 4
Forming close, personal relationships with customers and giving them exactly what they want is known as _____.
Select one:
a. mass marketing
b. niche marketing
c. differentiated marketing
d. one-to-one marketing
e. psychographic marketing
d. one-to-one marketing
-Unit 5
Choosing select groups of people to sell to is called _____.
Select one:
a. mass marketing
b. niche marketing
c. differentiated marketing
d. one-to-one marketing
e. psychographic marketing
c. differentiated marketing
-Unit 5
This segmentation category answers the question, "How do my customers live their lives?"
Select one:
a. demographic
b. behavioral
c. geographic
d. psychographic
e. geodemographic
d. psychographic
-Unit 5
Family life cycle refers to
Select one:
a. the stages families go through over time and how it affects people's buying behavior.
b. the buying behavior of a family that results in a particular amount of buying power.
c. how often the family purchases part
a. the stages families go through over time and how it affects people's buying behavior.
-Unit 5
City size and population density are utilized in relation to which type of segmentation strategy?
Select one:
a. targeted segmentation
b. geographic segmentation
c. demographic segmentation
d. geodemographic segmentation
e. benefit segmentation
b. geographic segmentation
-Unit 5
The different types of marketing communications an organization uses comprise its _____.
Select one:
a. promotional mix
b. personal selling
c. advertising
d. publicity
e. direct marketing
a. promotional mix
-Unit 5
A(n) _____ involves promoting a product to final consumers.
Select one:
a. push strategy
b. communication process
c. pull strategy
d. frequency
e. IMC strategy
c. pull strategy
-Unit 5
Marketers are concerned about _____ because they must ensure that you interpret the message as intended.
Select one:
a. perceptual retention
b. feedback
c. encoding
d. perceptual distortion
e. perceptual attention
d. perceptual distortion
-Unit 5
A unique selling proposition is
Select one:
a. a specific benefit consumers will remember.
b. a brand name.
c. a repositioning technique.
d. a discounted price.
e. an alternative sales method.
a. a specific benefit consumers will remember.
-Unit 5
_____ refers to demand for a specific brand while ____ refers to demand for a product category.
Select one:
a. Competitive parity; AIDA model
b. Open-ended messaging; selective demand
c. Primary demand; selective demand
d. AIDA model; open-ended messaging
e. Selective demand; primary demand
-Unit 5
Cutting middlemen out of the channel is known as
Select one:
a. disintermediation.
b. restructuring.
c. strategic distribution.
d. dismemberment.
e. rearranging.
a. disintermediation.
-Units 4-6
Selling the same product to all consumers is known as _____.
Select one:
a. mass marketing
b. niche marketing
c. differentiated marketing
d. one-to-one marketing
e. psychographic marketing
a. mass marketing
-Units 4-6
_____ refers to the possibility that the company will fail to earn the appropriate return on the money and effort it puts into the new product.
Select one:
a. Investment risk
b. Financial risk
c. Opportunity risk
d. Innovation risk
e. Product risk
a. Investment risk
-Units 4-6
All of the people and organizations that buy, resell, and promote a product "downstream" as it makes it to the end user is referred to as the _____.
Select one:
a. distribution channel
b. retail channel
c. supply channel
d. communication channel
e. busine
a. distribution channel
-Units 4-6
The most risky global entry strategy is known as _____.
Select one:
a. strategic alliance
b. direct foreign investment
c. joint venture
d. franchising
e. exporting
b. direct foreign investment
-Units 4-6
What step in one-to-one marketing involves determining who your best customers are in terms of what they spend and will spend in the future?
Select one:
a. differentiate among your customers
b. better understand the competition's customer
c. identify your
a. differentiate among your customers
-Units 4-6
The stage in the product life cycle when a successful product first becomes profitable is known as the _____ stage.
Select one:
a. maturity
b. growth
c. introduction
d. decline
e. downsizing
b. growth
-Units 4-6
If a firm can find a company that can add more value to a function than it can itself, it will often _____ the task to that company.
Select one:
a. offshore
b. procure
c. source
d. outsource
e. insource
d. outsource
-Units 4-6
_____ occurs when a firm's new offering eats into the sales of one of its older offerings.
Select one:
a. Brand extension
b. Brand strategy
c. Saturation
d. Product failure
e. Cannibalization
e. Cannibalization
-Units 4-6
A group of related offerings is known as a _____.
Select one:
a. technology platform
b. product mix
c. service mix
d. product category
e. product line
e. product line
-Units 4-6
Delivering what is promised, when it was promised, and the way it was promised are key drivers of _____.
Select one:
a. cross-docking
b. customer satisfaction
c. supply chain value
d. distribution centers
e. electronic data interchanges
b. customer satisfaction
-Units 4-6
A _____ is a two-dimensional graph that visually shows where a product stands relative to competitors.
Select one:
a. customer data analysis
b. segmentation plot
c. positioning strategy
d. perceptual map
e. marketing plan
d. perceptual map
-Units 4-6
Customers who are good at generating new product ideas or applications of products are called _____.
Select one:
a. lead users
b. alpha testers
c. innovators
d. first movers
e. trend setters
a. lead users
-Units 4-6
Telemarketing is an example of
Select one:
a. advertising.
b. PR.
c. direct marketing.
d. personal selling.
e. a sales promotion.
c. direct marketing.
-Units 4-6
Consumers often care about brand names when they are deciding on _____.
Select one:
a. convenience offerings
b. shopping offerings
c. specialty offerings
d. unsought offerings
e. product offerings
b. shopping offerings
-Units 4-6
Mobile marketing
Select one:
a. utilizes exposure methods.
b. utilizes high reach efforts.
c. utilizes cell phones and forms of transportation.
d. seeks high impact.
e. utilizes mail and catalogs.
c. utilizes cell phones and forms of transportation.
-Units 4-6
Firms offering more technical or expensive products often utilize _____.
Select one:
a. billboard campaigns
b. mass marketing
c. coupons
d. personal selling
e. sampling
d. personal selling
-Units 4-6
Forming close, personal relationships with customers and giving them exactly what they want is known as _____.
Select one:
a. mass marketing
b. niche marketing
c. differentiated marketing
d. one-to-one marketing
e. psychographic marketing
d. one-to-one marketing
-Units 4-6
A business that purchases product in large quantities from producers and then sells it to another entity is known as a _____.
Select one:
a. broker
b. retailer
c. distributor
d. wholesaler
e. consumer
d. wholesaler
-Units 4-6
Most consumer products are in the _____ stage of their life cycle.
Select one:
a. maturity
b. growth
c. introduction
d. decline
e. downsizing
a. maturity
-Units 4-6
Good public relations efforts
Select one:
a. keep all negative accusations from being written.
b. are defined by national awards.
c. can help a firm create rapport with its customers.
d. are hired outside of the firm.
e. involve running contests and games
c. can help a firm create rapport with its customers.
-Unit 7
Promotional activities that are implemented to generate short-term excitement are _____.
Select one:
a. public relations
b. sales promotions
c. publicity
d. personal selling
e. advertising
b. sales promotions
-Unit 7
_____ can have a positive PR impact by strengthening the affinity people have for a company that engages in it.
Select one:
a. Couponing
b. Promotional marketing
c. Product placement
d. Cause-related marketing
e. Sales promotions
d. Cause-related marketing
-Unit 7
By utilizing sales promotions, companies hope to
Select one:
a. persuade customers to take action quickly.
b. build long-term relationships with nonprofit organizations.
c. manage crisis situations.
d. raise advertising revenue.
e. generate exposure and i
a. persuade customers to take action quickly.
-Unit 7
A company who promotes its products and services to the final consumer are utilizing a _____.
Select one:
a. premium strategy
b. sales strategy
c. pull strategy
d. sample strategy
e. push strategy
c. pull strategy
-Unit 7
_____ are a great tool for situations that require adaptation, customer education, and other value-adding activities.
Select one:
a. Advertisements
b. Press releases
c. Salespeople
d. Coupons
e. Prospects
c. Salespeople
-Unit 7
Cold calling is associated with a(n)
Select one:
a. trade salesperson.
b. prospector.
c. professional marketer.
d. account manager.
e. missionary salesperson.
b. prospector.
-Unit 7
A buyer who needs a significant amount of trust with the seller is looking for a(n) _____.
Select one:
a. transactional relationship
b. strategic partnership
c. joint venture
d. functional relationship
e. affiliative selling relationship
e. affiliative selling relationship
-Unit 7
_____ involves a selling strategy in which a salesperson uses special expertise to create a somewhat customized solution to a buyer's problem.
Select one:
a. Consultative selling
b. Right-sales selling
c. Script-based selling
d. Strategic-partner selling
a. Consultative selling
-Unit 7
The characteristics of a qualified prospect include someone who has the
Select one:
a. brains, autonomy, need for, and time to purchase a product.
b. budget, autonomy, need for, and clout to purchase a product.
c. brains, authority, need for, and time to
e. budget, authority, need for, and time to purchase a product.
-Unit 7
An active influencer is defined as someone who
Select one:
a. is willing to try new products and offer feedback.
b. actually uses or consumes the offering regularly.
c. is willing to tell others about a product in addition to the fact that others listen t
c. is willing to tell others about a product in addition to the fact that others listen to him.
-Unit 8
_____ loyalty refers to a customer habitually purchasing a product, while ____ loyalty refers to the degree to which a customer prefers or likes a brand.
Select one:
a. Behavioral; attitudinal
b. Customer; viral
c. Attitudinal; behavioral
d. Viral; custom
a. Behavioral; attitudinal
-Unit 8
_____ reward a person for frequent purchases.
Select one:
a. Longevity
b. Loyalty programs
c. Attitudinal loyalty
d. Advertising
e. Behavioral loyalty
b. Loyalty programs
-Unit 8
Customers are more likely to tell others about negative experiences with companies than positive ones because
Select one:
a. people are not interested in hearing about successful products.
b. there is more drama involved in unmet expectations.
c. customer
b. there is more drama involved in unmet expectations.
-Unit 8
Warranties and guarantees can be utilized to
Select one:
a. increase customer perceptions.
b. involve customer representatives.
c. increase buyer's remorse.
d. engage marketing efforts.
e. decrease postpurchase dissonance.
e. decrease postpurchase dissonance.
-Unit 8
A company that implements programs to encourage customer loyalty is utilizing what type of pricing objective?
Select one:
a. maximizing profits
b. maintaining the status quo
c. targeted return on investment
d. maximizing market share
e. maximizing sales
a. maximizing profits
-Unit 8
Price is a signal of _____.
Select one:
a. revenue
b. individuality
c. growth
d. value
e. economic power
d. value
-Unit 8
Price is the _____ marketing variable to change and the _____ to copy.
Select one:
a. easiest; easiest
b. easiest; longest
c. easiest; hardest
d. hardest; easiest
e. hardest; hardest
a. easiest; easiest
-Unit 8
Price elasticity is calculated by
Select one:
a. multiplying the change in quantity demanded times the percentage change in price.
b. dividing the change in quantity demanded by the percentage change in price.
c. adding the percentage change in price plus
b. dividing the change in quantity demanded by the percentage change in price.
-Unit 8
Marketers who start with the price demanded by consumers and then create offerings to meet the price are utilizing which pricing strategy?
Select one:
a. forward pricing
b. demand backward pricing
c. price lining
d. premium pricing
e. odd-even pricing
b. demand backward pricing
-Unit 8