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Homework answers / question archive / Chapter 1 1)Customer equity is? ________
Chapter 1
1)Customer equity is? ________.
2-One of the primary reasons successful marketers try to develop customer lifetime value in a body of loyal consumers is because? _________.
3-The first step in the marketing process is? ___________.
4-In the process of developing marketing? strategy, one of the two critical questions the manager must ask? is, "What customers will we serve? (what's our target? market)?" Which of the following is the other? question?
5-As the organization determines which customers to? serve, it must first divide the market into reachable? portions, or? ____________ of the? market, and then select which portion of the market to target.
6-With an increasing push toward? ___________marketing, firms are gearing operations for the? long-term but not without stricter environmental and ethical demands.
7-Customer engagement marketing in the age of social media marketing differs from more traditional? marketing, which relied on intrusion to build market share. Customer engagement marketing depends on? __________ instead.
8-The fourth stage in the marketing process is to build and sustain enduring customer relationships. The key elements of this process? involve_____ and? _______.
9-The Societal Marketing Concept goes beyond the Marketing Concept and questions whether the pure Marketing Concept overlooks possible conflicts between consumer? short-run wants and consumer? long-run welfare. Which part of the Societal Marketing Concept says the marketing strategy should deliver value to customers in a way that maintains or improves both the? consumers' and? society's well-being?
10-Of the following classifications of? customers, the one that is fairly loyal but not particularly profitable is the? ________.
11-Share of stomach is best illustrated by which of the? following?
12-While it is one of the newest marketing tools firms have to communicate with? customers, _______________? is(are) now used by more than? 90% of American organizations.
13-The growing? not-for-profit sector includes all of the following types of? institutions, but it does not include? _____________.
14-One of the many elements of partner relationship management that deals with outside partners in the channels of distribution from raw materials to delivering goods to the final consumer is? ______________________.
15-Economic? _________ is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers.
16-An example of a value proposition is best illustrated as which of the? following?
17-A dramatic shift in? _______________, beginning in? 2008, has caused marketing managers to realign marketing plans and focus more on
.
18-A? _____________ is a situation in which marketing managers make the mistake of paying more attention to the specific products they offer than to the benefits and experiences.? Consequently, the managers focus on the?customer's wants and neglects to evaluate the needs.
19-Market offerings to which the marketing process applies include? _________.
20-?_____________ marketing is perhaps the? fastest-growing digital marketing platform. It is ideal for engaging customers anytime and anywhere as they move through the buying process.
21-When a consumer experiences a state of deprivation such as being? hungry, cold, or? tired, he is feeling? a(n) ________ that has to be satisfied
22-Demands differ from wants in which? way?
23-?Historically, the concept by which marketing managers? operated, which was based on being able to make the product efficiently and cost? effectively, was the? _________ Concept.
24-At the core of every marketing transaction in the satisfaction of needs and wants is? a(n) ____ between the buyer and a? seller, including? non-financial transactions such as between a politician and a voter.
25-Advantages of? consumer-generated marketing are the credibility and honesty of it and the appeals. Drawbacks for the marketing manager of? consumer-generated marketing include? ____________.
Chapter 2
1-If a firm like? McDonald's wanted to expand its business by acquiring a company such as Chevron gas? stations, it would be realizing growth through? ____________.
2-With four categories of SBUs and products arrayed on the Boston Consulting Group? share-growth matrix, the manager needs to determine how to manage each of them. If the firm decides to take? short-term cash flow from the brand or? SBU, despite? long-term consequences, it is said to be in the? ____________ mode.
3-The? growth-share matrix defines four types of SBUs. The? high-growth, low-share businesses or? products, which typically need heavy investments to finance their rapid? growth, are called? ______________.
4-If a firm such as? McDonald's wanted to expand its business by adding? locations, redesigning? menus, and adding? services, it would be realizing growth through? ____________.
5-Marketing managers have in their control four variables known as the four Ps. These four variables do not include the? __________.
6-The Boston Consulting Group? growth-share matrix classifies SBUs the firm has in two dimensions. The horizontal dimension consists of the? _______________, which measures the? firm's strength in the market.
7-When the marketing department works to improve customer? satisfaction, it can cause other departments to decrease their job performance. When marketing tries to improve customer? satisfaction, it may result in? __________.
8-Managing the marketing process requires four marketing management? functions: analysis,? planning, ______________, and control.
9-A? ____________________ is a statement of the? organization's purpose-what it wants to accomplish in the larger environment.
10-The? growth-share matrix defines four types of SBUs. The? low-growth, high-share business or? products, classified as? _________, typically need less investment to hold their market share.? Generally, they produce a lot of the cash that the company uses to pay its bills and support other SBUs that need investment.
11-The organization needs to turn its mission statement into detailed supporting objectives for each level of management. The next step after setting the mission statement is to? ____________________________.
12-Companies know that they cannot profitably serve all consumers in a given? market, at least not all consumers in a uniform way. Most firms are in a situation to serve some portions of the market better than? others, and they undertake four steps in order to make that effective. These steps are as follows? (placed in sequential? order): ____________________.
13-There are two steps to business portfolio planning.? First, the company analyzes its current business portfolio and determines which businesses should receive? more, less, or no investment. Which of the following is the second?step?
14-Designing a business portfolio involves finding businesses and products the company should consider in the future. Companies need growth if they are to compete more? effectively, satisfy their? stakeholders, and attract top talent. At the same? time, a firm must be careful not to make growth itself an objective. The? company's objective must be to manage? __________.
15-After determining the? market-oriented mission, what is the next step in the process of strategic? planning?
16-More companies today are partnering with other members of the supply chain. These partnerships include? __________ and they improve the performance of the customer value delivery network.
17-If Google wrote its mission? statement, what would it be advised to? write? The mission of Google is? __________.
18-?__________________ is(are) the measurement of the profits generated by investments in marketing activities.
19-Astute marketers practice partner relationship management and must work closely with partners in other company departments to form an effective internal value chain that serves customers.? Additionally, they must partner effectively with other companies in the marketing system to form a competitively superior? _____________________.
20-The? growth-share matrix defines four types of SBUs.? High-growth, high-share businesses or products are called? ______________.
21-A member of top? management, the? _____, is the champion of the? customer's cause and heads up the? company's entire marketing? operation, representing marketing on the? company's top management team.
22-SWOT analysis is an integral part of the first stage of the market? process, which is analysis. The parts of the SWOT analysis that apply to external elements? are___________ and? __________.
23-The Boston Consulting Group? growth-share matrix classifies SBUs the firm has in two? dimensions; the first dimension is? _______________, which measures market attractiveness for the entire industry on the vertical axis.
24-Once a marketing plan is? written, the manager has to convert the plan into actions that actually accomplish the strategic marketing objectives. The process of? ______________________ addresses the? who, where,? when, and how of the marketing plan.
25-Although strategic planning models like the Boston Consulting Group? share-growth matrix are valuable tools for? managers, they have limitations. Which of the following is an advantage of using the Boston Consulting Group?share-growth matrix?
Chapter 3
1-Generation? Y, or echo? boomers, are also known as? ________. They are the portion of the population that was born between 1977 and 2000.
2-Many firms are already using? ________ technology to track products through various points in the distribution channel.
3-This ethnic segment of the American market comprises roughly? 5% of the total population.? _____________ are consistently more confident about their financial situations than other segments and are more likely to live within their means. They tend to avoid credit card debt and save more for future eventualities.
4-The marketing manager confronts two types of beliefs as she analyzes the cultural? environment, ________ beliefs and secondary beliefs.
5-In the process of analyzing the global economic? environment, the marketing manager needs to determine which type of economy the country is and how the nation varies from other countries in the level and distribution of income. An economy that consumes most of its own agricultural and industrial output and offers few market opportunities is? a(n) ________ economy.
6-?Consumers' orientation to society influences their consumption patterns and attitudes toward the marketplace. For? example, American? ________ has? (have) been increasing gradually for the past two decades.
7-Over the past two? decades, the U.S. population has shifted toward the? ________ states.
8-The? ________ environment offers marketers many opportunities in one of the most dramatic ways—it affects such wonders as? antibiotics, robotic? surgery, miniaturized? electronics, smartphones, and the Internet.
9-The demographic environment shows a changing? ________ structure, which is one of the most significant demographic trends in the American? marketplace, along with shifting family? profiles, geographic population? shifts, a?better-educated and more? white-collar population, and increasing diversity.
10-Which of the following firms could be identified as taking a proactive stance toward the marketing? environment?
11-The past two decades have seen a sharp decrease in? ________ America's business and political organizations and? institutions, and marketing managers need to be aware of changing beliefs about firms and organizations when developing marketing mixes.
12-Marketers should increasingly be aware of regulations designed to protect consumers when applying new technologies and developing new products. Many government agencies investigate and ban potentially unsafe? products, but the two with the most direct impact on marketing managers are the Food and Drug Administration? (FDA) and the? ________.
13-In the? microenvironment, there are five different types of customers. A? _________ is not a type of customer.
14-To exercise their social responsibility and build more positive? images, many companies are now building efforts in the area of? ________ marketing, linking themselves to? respectable, socially minded organizations and? ideas, which firms increasingly use as a form of corporate giving.
15-As part of the? microenvironment, ________ form an important link in the? company's overall customer value delivery network. They provide the resources needed by the company to produce its goods and services.
16-The? ________ consists of the actors close to the company who affect its capability to engage and serve its? customers, including the? company, suppliers, marketing? intermediaries, customer? markets, competitors, and publics.
17-It is important for brands to participate in social networks as part of the marketing strategy because new ways in which consumers use technology strongly affect how companies market their brands and communicate with customers.? "Mass mingling" and? ________ are two trends the marketer needs to consider.
18-Marketing intermediaries help the company? promote, sell, and distribute its products to final buyers.? _________ are not marketing intermediaries.
19-A public is any group that has an actual or potential interest in or impact on an? organization's capability to achieve its? objectives, including the? ________ public, which influences the? company's capability to obtain funds.
20-Core values are fairly persistent within the culture across time. The cultural swings that occur usually take place in secondary values. Which of the following is an area in which consumers tend to elicit cultural? shifts?
21-The? ________ consists of the larger societal forces that affect the microenvironment—?demographic, economic, natural,? technological, political, and cultural forces.
22-A critical element of microenvironmental scanning is? ________, which is the study of human populations in terms of? size, density,? location, age,? gender, race,? occupation, and other statistics. This portion of the environment is of major interest to marketers because it involves people who make up markets.
23-The? ________ environment involves the physical environment and the resources that are needed as inputs by marketers or that are affected by marketing activities.
24-Some companies hire lobbyists to influence legislation affecting their industries and stage media events to gain favorable press coverage. These firms will often run? ________, which are ads expressing editorial points of view.
25-Marketing managers need to analyze the? environment, which includes two? parts; these are known as the? ________ and the? ________.
Chapter 4
1-With budgetary constraints facing small? businesses, small firms can still take advantage of many marketing research options from governmental and trade agencies to diversify research approaches.? _________ is(are) not feasible for the small businesses that want to conduct market research.
2-A data warehouse is a database of finely detailed customer and market information that needs to be sifted through for significant pieces of information and trends. The data warehouse operates at which? level?
3-A firm will often employ? a(n) ________, which is comprised of both people and procedures dedicated to assessing information? needs, developing the needed? information, and helping decision makers use the information to generate and validate actionable customer and market insights.
4-The? firm's MIS is useful to the marketing? managers, but it does involve one distinct disadvantage. The company must deal with what factor before? obtaining, analyzing,? storing, and delivering? information?
5-Many firms use company intranet and internal CRM systems to facilitate the process of granting access to research and intelligence? information, customer contact? information, and reports within the firm. Some or all of this data might also be shared with? suppliers, customers,? resellers, and select other network members via what delivery? mechanism?
-Extranets
6-Marketing? managers, overloaded with data and often overwhelmed by? it, face the issue of? ________, which? refer(s) to the huge and complex data sets generated by? today's sophisticated information technologies.
7-?Internet-based survey research offers many advantages over traditional? phone, mail, and personal interviewing approaches. Why would a researcher be advised not to use? online, Internet-based survey? research?
8-Firms face ethical issues in using marketing research data in many forms but primarily in two? areas: the misuse of research findings and? ________.
9-Companies have tremendous amounts of information available on? competitors, resellers, and other players in the? marketplace, but they must also use that data to gain insight into? ________ as Pinterest did successfully in creating a scrapbooking site for shared pictures.
10-A researcher is using a somewhat expensive data collection method that is fairly? flexible, offers researchers reasonable response? rates, and creates the situation in which the interviewer can skip questions or probe further with the respondent. The research is using which data collection? method?
11-Managers seeking competitive intelligence can use any of the scores of online? databases, some of which are free and some for which the user pays. All of the following are sources of competitor? information, but one is not an online database. Which one is not an online? database?
12-An increasing number of companies now use ethnographic? research, which involves sending researchers to watch and interact with consumers in their? "natural environments." For? example, at? Legoland, children play with the toys and are watched and recorded for how they use the blocks and what they build. This ethnographic work is a specific data collection method and is part of which research? approach?
13-A fitness center has? 1,000 members. It selects one in every ten members and conducts an online survey about customer satisfaction. Assuming a good response? rate, the fitness center used which sampling? plan?
14-One of the latest trends in Web analytics and targeting takes online eavesdropping beyond behavioral targeting to social targeting. Beyond simply tracking consumer movements across online? sites, social targeting does? what?
15-Online secondary data sources and Internet search engines provide researchers with secondary data.? However, secondary data presents the researcher with several problems.? __________ is not an issue encountered in using secondary data.
16-Although a marketing information system primarily serves the? company's marketing and other? managers, it might also provide information to external? partners, such as? suppliers, resellers, or marketing services agencies. An example of how the MIS can provide customer information to partners beyond the firm is? ________.
17-As a result of the shortcomings of mail? surveys, increasingly more marketers are now shifting to? faster, more? flexible, and? lower-cost e-mail,? online, and mobile phone surveys. Mail surveys present researchers with what other significant? problem?
18-Innovative marketing firms are restructuring their marketing information and research functions and are creating? ________, which are typically headed by a senior marketing executive with representatives from as many as two dozen of the? firm's functional areas.
19-?Typically, a firm begins the research process with which type of marketing? research?
20-A marketer defines her research objective to define and identify things within the market such as how many times a week does the customer go to the grocery store and how many bananas does the consumer purchase at a? time? This is classified as which type of market? research?
21-Collections of consumer and market information obtained from data sources within the? company's network, or internal? databases, are derived from several functional areas within the firm.? __________ are not sources of internal data.
22-A marketing manager wants to know the effect of offering a coupon in different amounts in different places across the? country, which he suspects are more and less price sensitive. He tests the effect on sales of four different coupon offers in ten geographic locations. The research being conducted is which type of? research?
23-?MasterCard's Conversation? Suite, which? monitors, analyzes, and responds in a timely way to millions of online conversations around the? world, is an example of which type of market research? tool?
24-International researchers follow the same steps as domestic? researchers, from defining the research problem and developing a research plan to interpreting and reporting the results.? However, these researchers often face more and different problems particularly when collecting primary data. Which of the following creates a problem for collecting secondary data? internationally?
25-?Essentially, the marketing research process encompasses four steps.? __________ is not a step in the research process.
Chapter 5
1-A consumer is curious as to whether or not he would like a tablet instead of a laptop. He knows there are differences but does not really understand brand differences nor does he know the specific features of different tablets. He begins doing some online research. He is described as being in which stage of the new product adoption? process?
2-Each culture contains smaller groups of people with shared value systems based on common life experiences and situations. These smaller? groups, identified as? ________, include? nationalities, religions, racial? groups, and geographic regions. They often make up important market segments.
3-The buying decision process follows several steps. How is the final step in the process? identified?
4-Which subcultural market segment is the most affluent demographic? segment?
5-Consumer buyer behavior refers to the buying behavior of final? consumers, which is defined to include? whom?
6-Many small groups have a direct influence on a? consumer's behavior. When one is not a member of the group but imagines he is a member of the group to which he wants to? belong, it is considered? a(n) ________ group.
7-A competitive and? well-respected lifestage segmentation system is? __________________, which classifies every American household into one of 66 distinct lifestage segments that are further organized into 11 major lifestage?groups, based on? affluence, age, and family characteristics.
8-Soda Stream is an innovation in soft drinks that enables consumers to create their own sodas at home with purchased? syrup, tap? water, and a carbonation device. To increase the adoption? rate, the firm is advised to present the relative advantage. How would the relative advantage of Soda Stream be? described?
9-Researched? extensively, marketers are particularly interested in the roles and influence of group members on the purchase of different products and services.What factor is the most important? consumer-buying organization in? society?
10-Hispanics represent a? large, fast-growing market. The? nation's more than 55 million Hispanic consumers will account for? 11% of the? nation's total buying power by? 2015, but they do vary in buying behavior from the mainstream American public. Which of the following statements is true about the Hispanic? consumer?
11-A? buyer's decisions are influenced by many personal characteristics that include which of the following? factors?
12-A child in which of the following cultures normally learns or is exposed to the following? values: achievement and? success, freedom,? individualism, hard? work, activity and? involvement, efficiency and? practicality, material? comfort, youthfulness, and fitness and? health?
13-Which subcultural American market segment is more price conscious than other? segments?
14-Social? classes, society's relatively permanent and ordered divisions whose members share similar? values, interests, and? behaviors, are not determined by a single factor but are measured as a combination of other variables.?________ does not factor into the equation when it comes to calculating social class.
15-Maslow sought to explain why people are driven by particular needs at particular times. His answer is that human needs are arranged in a? hierarchy, which runs from the most urgent to least pressing. Identify the correct order of needs.
16-The most basic cause of a? person's wants and behavior is his? ________, which is learned from childhood.
17-In addition to group? influences, a? person's buying choices are further influenced by four major psychological factors.? ________ is not an influencing psychological factor but is a factor that influences? one's buying behavior.
18-In the second stage of the buyer decision? process, the consumer gathers information. The sources from which the buyer can collect this information include which of the? following?
19-Perception is the process by which people? select, organize, and interpret information to form a meaningful picture of the world. Consumers can form different perceptions of the same stimulus because of several perceptual processes including selective attention. Which of the following is an example of selective? attention?
20-Marketing managers have to analyze what goes on in the? consumers' "black? box." The black box has two parts. The first is that the? buyer's characteristics influence how he or she perceives and reacts to the stimuli. What is the second? element?
21-Consumer purchases are strongly influenced by many factors the marketer cannot control.? __________ is a factor that the marketer can control.
22-Consumers are involved in complex? decision-making buying situations when there are certain conditions of the buying process. These conditions do not include which of the following? situations?
23-Which adopter group is made up of opinion leaders in their communities and who adopt new ideas? carefully?
24-Marketers are always trying to spot? ________ so as to discover new products that might be wanted by buyers. One of these is the growing concern among consumers about their health and? fitness, which has created a great opportunity for flavored vitamin waters.
25-Marketers of brands that are subjected to strong group influence must figure out how to reach? ________, people within a reference group who exert social influence on others. Because consumers listen to these influential?consumers, marketers try to create? ________ using them to serve as? "brand ambassadors" who spread the word about brands.
Chapter 6
1-In a business marketing? scenario, demand is typically? ________ and fluctuates more than in the consumer marketplace.
2-Which role is it that has the formal authority to select the supplier and arrange terms of? purchase? Persons in this role might help shape product? specifications, but their major role is in selecting vendors and negotiating. In more complex? purchases, high-level officers might participate in this role in the negotiations.
3-The first step in a fairly? lengthy, complex process of making a purchase in a business marketing situations is? what?
4-What are the major types of buying situations in the business? market?
5-In the buying? center, which role is responsible for controlling the flow of information and might include secretaries and technical? staff?
6-In contrast with consumer? purchases, a business purchase usually involves? ________ and a more professional purchasing effort.
7-The? decision-making unit of a buying organization is called its? ________. It consists of all the individuals and units that play a role in the business purchase? decision-making process.
8-Many factors of the environment and supply chain influence the business? buyers' decisions. If the marketer has to consider the difference from one buyer to? another, such as? McDonald's and? Wendy's, in terms of their respective?objectives, strategies,? structure, systems, and? procedures, he is aware of what set of decision? factors?
9-Siemens Corporation is selling an Argentinean manufacturer a? $2 million turbine engine. In the process of this? sale, which one of the following factors should Siemens? avoid?
10-Before the buying firm begins the supplier? search, the firm determines the specifications with help of what technique to analyze cost reduction and to determine whether the required product can be? redesigned, standardized, or made by less costly methods of? production?
11-In many? cases, a sales team focuses on the economic factors of cost and price in presenting the purchase to a business buyer. How do business buyers make decisions on what? dimensions?
12-?Increasingly, customer-oriented companies are not using Purchasing Departments to acquire goods from vendors.? Walmart, for? example, depends on which concept to systematically build networks of? supplier-partners to ensure a dependable supply of the products and materials used in making their own products or reselling to? others?
13-There are several ways in which a firm can engage in? e-procurement. Which of the following is a method for sharing only sales and inventory data? online?
14-The main differences between consumer and business buyer behavior include differences in market structure and? demand, ________, and the types of decisions and the decision process involved.
15-In the business? market, a typical car manufacturer incorporates a sound? system, which might be purchased from Pioneer. When the consumer buys the? car, the Pioneer sound system is already installed and Pioneer relies on auto manufacturers for much of its sales. These interrelated? markets, driven by? consumers, are described as? ________ demand.
16-Why would any firm choose to do business with the U.S. government especially given the complications involved in selling to? it?
17-One type of nonbusiness organizational market is the institutional market. It includes which of the following typical? buyers?
18-?________ refers to the buying behavior of organizations that buy goods and services for use in the production of other products and services that are? sold, rented, or supplied to others.
19-During supplier? selection, members of the buying center review the proposals and select a supplier or suppliers.? Additionally, which of the following is a task that takes place during supplier? selection?
20-The business marketer usually deals with a difference in the market size and type of customer from consumer markets. The business market is characterized with? ________ buyers and much? ________ buyers than does the consumer marketer.
21-Although the Internet makes it possible for suppliers and customers to share business data and even collaborate on product? design, there are some inherent problems associated with it. How does it present a? problem?
22-Organizational buying behavior also applies to certain groups of buyers beyond the traditional business. To which other? entities, with special? characteristics, does organizational buying? apply?
23-There are several sources of information for business marketers looking to sell to the U.S. government. Which of the following is the source that provides a complete education on the way government agencies? buy, the steps that suppliers should? follow, and the procurement opportunities? available?
24-Costco wants the processor of the brand of yogurt it has been selling for eight years to increase the number of units per pack from 9 to 12 and to reduce its profit margin from? 14% to? 12%. The buying situation would be described as which? type?
25-Many large buyers practice what kind of? system, in which they turn over ordering and inventory responsibilities to their? suppliers? Under such? systems, buyers share sales and inventory information directly with key suppliers.
Chapter 7
1-One of the most popular bases for segmentation is? ________ segmentation because consumer? needs, wants, and usage rates often vary closely with these variables.? Additionally, they are easier to measure than most other types of variables. Often when marketers first define segments using other? bases, such as benefits sought or? behavior, they often rely on this base of segmentation to assess the size of the target market and reach it efficiently.
2-Although most producers of tablets market their devices to? adults, Amazon has spotted a smaller tablet market. Feedback from parents suggested that they were handing their? entertainment-packed Kindle Fire tablet over to their young children for? entertainment, education, and babysitting purposes. Amazon introduced FreeTime? Unlimited, a multimedia subscription service targeted toward? three- to? eight-year-olds. This strategy employs which base for?segmentation?
3-?P&G offers a great variety of bestselling detergent and laundry care? brands, including? Tide, Gain,? Cheer, Era,? Dreft, Bold,? Bounce, and Downey.? Essentially, in the laundry? market, P&G is competing with itself. Why does it offer so many competing? brands?
4-In the? four-step process used to design a? customer-driven marketing? strategy, which step involves dividing the market into smaller segments of buyers with distinct? needs, characteristics, or behaviors that might require separate marketing strategies or? mixes?
5-The department store chain? Macy's has rolled out a localization program called? "My Macy's" in which merchandise is customized under 69 different geographical districts. Due to climate and taste? differences, the firm markets brands and promotions specifically to the needs and wants of local customer groups. Which marketing strategy is? this?
6-There are many ways to segment a? market, but not all segmentation strategies are effective. To be? useful, market segments must meet four requirements. Which one of the following is an undesirable quality for segmenting?markets?
7-Even when competing offers look the? same, buyers might perceive a difference based on company or brand? ________ differentiation. A? company's or? brand's identity should convey a? product's distinctive benefits and positioning derived through creativity and hard work.
8-A cosmetics firm selects seven different segments to target with five different brands and product lines. The firm has embraced which targeting? strategy?
9-Marketers use which type of segmentation to help increase product? usage? This type of segmentation groups buyers according the situations under which they get the idea to? buy, actually make their? purchases, or use the purchased items.
10-When choosing a? target-marketing strategy, the firm should pay close attention to several factors. In addition to? competitors' marketing? strategies, market? variability, product variability and the extent of? variety, the firm should consider which of the? following?
11-Crest toothpaste does not segment the market by geography or? gender, but it divides it by the features and outcomes buyers expect from their toothpaste such as? whitening, cavity-fighting, or? breath-freshening qualities. What approach is Crest using to segment the? market?
12-A firm learns that potential customers are graduating from high school and soon attending college. It might segment the market based on? ________ and try to reach potential buyers who are consumers facing? life-stage changes and who can be turned into heavy users for products such as? popcorn, credit? cards, or air travel. What approach to segmentation is this? approach?
13-Many marketers think that companies should aggressively promote only one benefit to the target market. Former advertising executive Rosser? Reeves, for? example, said that a company should develop which single feature concept for each? brand?
14-The positioning of a brand is called the? "brand's value? proposition," which is the full mix of benefits on which a brand is differentiated and positioned. There are essentially five possible value propositions. Which of the following examples is not correctly paired with a? brand?
15-?Traditionally, marketing was not focused on specific buyers but marketers were scattering their marketing efforts through? ________, which is more of a? "shotgun" approach.
16-Cruise ships and companies in the travel industry often divide the market into segments according social? class, lifestyle, or personality? characteristics, which is also known as what type of? segmentation?
17-There are four steps in designing a? customer-driven marketing strategy. The first? two, ________ and? ________, deal with selection of the customers the firm chooses to serve.
18-There are four steps in designing a? customer-driven marketing strategy. The second? two, ________ and? ________, deal with how the firm decides on the value proposition for the markets and how it will create value for the chosen markets.
19-What is the third step in the differentiation and positioning? task?
20-The? ________ is the way a product is defined by consumers or the place the product occupies in? consumers' minds relative to competing products. Products are made in? factories, but brands happen in the minds of consumers.
21-Business buyers can be segmented? geographically, demographically based on industry and company? size, or by benefits? sought, user? status, usage? rate, and loyalty status.? However, business marketers also use some additional variables such as operating? characteristics, personal? characteristics, and what other? factors?
22-A grocery chain decides to divide the market into? urban, suburban, and rural markets and then direct efforts towards the suburban segments first and eventually move into urban areas. The grocer is employing what type of?segmentation?
23-After market? segmentation, the firm next will decide on which segment to target. Targeting can be carried out at several different levels ranging from mass? marketing, which is very? broad, to? ________, which is very narrow.
24-One of the most frequently used systems is? ________, which can break down markets by zip codes and will classify households into lifestyle segments. An example of a lifestyle segment is Sports Utility Families.
25-Modern communication technologies enable consumers to connect across many of the traditional segmentation bases.? Increasingly, firms will employ? ________ segmentation in the international market to form segments of consumers who have similar needs and buying? behaviors, even though they are located in different countries.
Chapter 8
1-A? firm's market offering might include a range of options from? ________ such as gasoline or toasters at one end to? ________ such as a haircut or a trip to the dentist.
2-Procter and Gamble divides its 106 American brands into 7 categories such as? laundry, detergents, shampoos and hair? care, and so on. Within each of those 7? categories, shampoo, for? example, has multiple competing brands such as? Pantene, Herbal? Essence, and Head and? Shoulders, with 5–35 varieties of sizes and scents in each brand.? P&G's product offering across these 7 categories is described as which of the? following?
3-The major brand strategy decisions a firm has to make in building a strong brand begins with brand? ________ and is followed by brand? ________.
4-?Goody, a company that makes hair brushes and? combs, has several sponsorship options facing it. If it sells the majority of its product under the Kirkland brand name for? Costco, what is the sponsorship? selected?
5-Many experts say that the most distinctive skill a professional marketer might have is the ability to build and manage a? ________, which can include a? name, term,? sign, symbol, or? design, or a combination of these.
6-A buyer purchases a new vacuum cleaner to use in his? house-cleaning business. Which type of purchase is this? considered?
7-Firms like? Coca-Cola, Harley-Davidson,? Apple, and Google measure their respective? brands' ability to capture consumer preference and loyalty. What is the differential effect that knowing the brand name has on customer response to the product and its marketing? called?
8-A firm might engage in product line filling and stretching for several reasons including all of the following but one. Which is not a reason marketers stretch and fill product? lines?
9-Procter and Gamble divides its 106 American brands into 7 categories such as? laundry, detergents, shampoos and hair? care, and so on. Within each of those 7? categories, shampoo, for? example, has multiple competing brands such as? Pantene, Herbal? Essence, and Head and? Shoulders, with 5–35 varieties of sizes and scents in each brand. Pantene? shampoo, conditioner, and hair styling products are available in 33 different versions representing which aspect of the? firm's offering?
10-Anything that can be offered to a market for? attention, acquisition,? use, or consumption that might satisfy a want or need can be considered? what?
11-After the Exxon Valdez oil spill in? Alaska, Exxon spent heavily on an advertising campaign to tell the public what was being done to clean up the spill and protect the environment and Alaskan wildlife. In what type of marketing activity did Exxon? engage?
12-A man is looking to buy his wife a birthday gift and heads to the Apple store to purchase a new iPhone. Which type of consumer product category is this? purchase?
13-Consumers see products as complex bundles of benefits that satisfy their? needs, but there are different levels of the product. For? example, when a consumer buys a cup of Starbucks? coffee, he is buying more than a caffeinated?beverage, but also an experience in the store that often is referred to as the? "third place." This is considered to be which of the three elements of the? product?
14-Greater than? 80% of the American economy is derived from the service sector. There are several dimensions on which service marketing differs from product? marketing, including four of the following. Which dimension could equally apply to services and? products?
15-?Typically, the package label is used in several ways by the marketer beyond simply identifying the product. What are the other functions of the? label?
16-Packaging has increased roles it plays for marketers. From the following? activities, which one would the marketing manager want to avoid in designing the? packaging?
19-A brand such as? Apple, which has deep relationships with loyal? customers, positions the brand on the highest level of positioning using what? dimension?
20-Naming a brand is not a simple task because there are several issues the firm must address to develop a desirable name. A firm started in 1988 named the brand Twentieth Century Computers. What naming factor did the firm?ignore?
21-Consumers see products as complex bundles of benefits that satisfy their? needs, but there are different levels of the product. For? example, when a consumer buys an? iPad, he is buying? entertainment, communication, and connectivity. This is considered to be which of the three elements of the? product?
22-Consumer products include several different categories of goods that consumers buy that are classified primarily by the ways in which consumers buy them. Which of the following describes the variations of a? product?
23-For most competitive? companies, customer-driven quality has become a way of doing business. One of the most commonly used? approaches, known as? ________, is one in which all of the? company's people are involved in constantly improving the quality of? products, services, and business processes.
24-A consumer is in the market for a product that is less frequently purchased and for which she will compare carefully the dimensions such as? suitability, quality,? price, and style. In looking for this? product, she will spend time and effort gathering information and making comparisons before making the purchase. Which type of product category is? this?
25-Successful service providers understand the elements of the service profit? chain, which links service firm profits with employee and customer satisfaction. Before the Brew House Restaurant opens a new? facility, it sends all servers and bartenders to? "beer school" to learn how different beers are made and which to recommend with different meals. Which element of the service profit chain encompasses this type of? activity?
Chapter 9
1-The? five-stage product life cycle? (PLC) defines the? ________ stage as the one in which sales slow down because the product has achieved adoption by most potential buyers. Profitability usually levels off.
2-There are several reasons why new products fail. Which one of the following reasons that has been given for a new? product's failure can the marketing manager? ignore?
3-One marketing expert describes an? R-W-W ("real,? win, worth? doing") new product screening framework that asks three questions. Two of these? are: Is there really a market for the product and can the firm garner a sustainable advantage in the market. Which of the following is the third question the marketer should? ask?
4-International product and services marketers face special challenges.? First, the firm must figure out what products and services to introduce and in which countries. What is the second issue the firm must? address?
5-In the growth? stage, the firm will experience many predictable actions. Which of the following activities is expected in a stage of the product? life-cycle other than the growth? stage?
6-During which period of the PLC are sales? zero?
7-LegalZoom was the first Web site developed to assist consumers in doing legal transactions such as writing? wills, getting? divorced, and doing simple patent and trademark work online without hiring a lawyer. LegalZoom is? a(n) ________ in the industry starting out in the introductory stage of the PLC.
8-Options in managing the decline stage vary. A manager can follow several different strategies including? drop, ________, or maintain.
9-The concept of product life cycle that marketers use presents a challenge because all products eventually decline.? Consequently, a firm must be good at developing new products to replace aging ones. This is known as what?issue?
10-Managers of products and services in the maturity stage will use several techniques to extend that stage and not enter the decline stage. Which of the following strategies is essentially impossible for the marketing manager to not employ in order to extend? maturity?
11-Which of the following statements about products and services in the decline stage of PLC is? accurate?
12-The PLC concept can describe several different categories of products of interest to marketers. Which one has the fairly traditional PLC shape and is represented by items such as? tablets, wine? coolers, and wearable PCs and Internet? connections?
13-Many firms do not use a traditional sequential process of new product development that passes the product from department to department.? Instead, they use? __________ new product? development, which assembles people from various departments who stay with the new product from start to finish. Which type of new product development approach is? this?
14-If the purpose of idea generation is to create a large number of? ideas, what are all the succeeding steps in the new product development process designed to? do?
15-In the idea generation? stage, firms can generate new product ideas from internal and external sources. Which of the following is an internal source for idea? generation?
16-Rather than leaving new products to? chance, a company must carry out strong new product planning and set up a? systematic, customer-driven new product development process for finding and growing new products. There are eight major steps in this process beginning with? ________ and ending with? ________.
17-As the result of? screening, a firm determines there is a market for a device that automatically tosses a ball for a dog so the owner does not have to throw the ball. The firm does not yet know how big the device would? be, of what material it would be? made, or how much it would cost. The? dog-tossing device is described as what level of new? product?
18-In the fourth stage of the new product development? process, the firm creates the marketing strategy? statement, which consists of three parts. The final portion of this process is to describe? what?
19-There are many legal responsibilities facing the marketing firm. Which of the following is the firm exempt from having to do legally in managing its product? offering?
20-Many entrants to the global marketplace have been driven or? "pulled" into the global arena as they followed their client companies that were entering global competition. For which of the following industries is this? follow-through behavior most? common?
21-Which stage of PLC typically lasts the? longest, and consequently there are more products in this stage of the product life cycle than at any other point in the? PLC?
22-Some PLCs are short and some endure a long time. The PLC for a product? class, such as a kilt like the Scottish tartan? skirt, lasts for several centuries and is a? basic, distinctive mode of expression. The kilt is best described as?a(n) ________.
23-A firm can develop new products or acquire them from other firms.? However, innovation can be expensive and very risky. By one? estimate, ________ of all new products introduced by established companies fail within two? years, and? ________ of all innovations fail to return their development costs.
24-Marketing researchers for a new golf glove to be introduced to the golf market measure consumer responses to the product in various fabrics and? colors, and styles as well pricing and other marketing tactics in a laboratory? "pro shop." Which research method is the firm? employing?
25-Above? everything, new product development must be? ________ centered, which focuses on finding new ways to solve problems and create more satisfying experiences.
Chapter 10
1-?McDonald's resisted creating a value menu for many years.? Finally, in response to? Wendy's, Burger? King, and Taco? Bell, McDonald's began to offer the dollar menu. Which pricing strategy did it employ with the addition of the dollar?menu?
2-A plane flies daily from Los Angeles? (LAX) to? Bangkok, Thailand? (BKK). The? fuel, staff,? taxes, and landing fees are approximately? $40,000. The cost per passenger is? food, beverages, and the weight of the passenger and his?baggage, which the airline averages as? $250. The plane can carry 200 passengers when it is full or a total variable cost of? $50,000. What is the total cost of the flight one way on a day when the plane is? full?
3-A restaurant is busy in the summer months but fairly slow in the winter months and has trouble earning enough revenue to pay the? rent, utilities, and management salaries to cover the operation. These expenses are known as which type of? costs?
4-A firm makes 4GB flash drives that sell three to a package. Because most buyers cannot differentiate between flash drives and simply buy the cheapest per unit? pack, marketing? research, product? development, pricing,? advertising, and sales promotion play a very little role. What type of economic market is the manufacturer? facing?
5-The normal demand curve indicates what relationship between price and? demand?
6-Determining price does not occur in a vacuum. In price? setting, what other internal variables influence the price finally? chosen?
7-In industries such as? airlines, railroads, and? oil, in which pricing is a key factor and there are very high fixed? costs, typically who is responsible for making pricing? decisions?
8-A tablet manufacturer is new to the market and finds its costs are very high initially. One year? later, the? per-unit cost has decreased by? 22% from the first days of operation. The tablet manufacturer has realized this drop in average cost over time through what? process?
9-What is the basic strategy or strategies a marketing manager can choose in determining? price?
10-Soda machines have the prices set at? $1, $1.25,? $1.50, and so? on, in convenient price? amounts, not at? $1.32. Which pricing tactic is used in pricing in vending? machines?
11-A company that sets prices based on the costs of? producing, distributing, and selling the product plus a fair rate of return for the? company's effort and risk is using which pricing? strategy?
12-In the aftermath of the Great Recession of 2008–?2009,many consumers rethought the? price-value equation and became more value conscious. In? response, which of the following is a recommended? long-term pricing strategy for?marketers?
13-A pizza parlor knows its fixed and variable costs and determines that when it sells 124 meals a? day, it can be profitable. Based on the total? costs, including its? profits, and the? break-even volume, the firm determines to sell pizza at?$8.99 per pie. Which pricing tactic is the pizza parlor? using?
14-Pricing can play an important role in helping to accomplish company objectives at many levels. Which one of the following plays an insignificant role in the marketing? manager's task of price? setting?
15-A car dealership in upstate New York where winters are cold and snowy has experienced lower sales for auto repairs. To capture a larger portion of the? community's car? repairs, it has offered free car washes all year and guarantees to return the car clean and dry even in drought conditions when water usage is regulated weather. Which pricing tactic is in? operation?
16-Marketers need to fully understand price elasticity or how responsive demand will be to a change in price. The firm knows its market is very elastic under what? condition?
17-In a monopolistic competition? market, which consists of many buyers and sellers trading over a range of prices rather than a single market? price, how much do prices vary between? competitors?
18-In designing a new? product, a firm hosts many focus groups of product owners and? non-owners to discuss the product? concept, product? features, and relative price. Which type of pricing strategy is the firm using to set the price and design of a product that meets the perceived consumer? value?
19-A plane flies daily from Los Angeles? (LAX) to? Bangkok, Thailand? (BKK). The? fuel, staff,? taxes, and landing fees are approximately? $40,000. The cost per passenger includes? food, beverages, and the weight of the passenger and his?baggage, which the airline averages as? $250. The plane can carry 200 passengers when it is full. What is the variable cost per? passenger?
20-A marketer considers? buyers' perceptions as key to pricing and product design. The marketer considers all other marketing mix variables before the marketing program is set. Which pricing strategy is being? used?
21-Although markup? pricing, or? cost-plus pricing, does not directly respond to demand? fluctuations, the method remains popular for which of the following? reasons?
22-What is the simplest and most common form of pricing manufacturers and resellers? use?
23-A cruise ship is having trouble filling all the cabins on voyages and decides to offer passengers a free second cabin for children accompanying their parents. The initial price of the? voyage, which includes the cabin and all? meals, stays the same. Which pricing tactic is the cruise line using to increase? occupancy?
24-Stores like? Target, Macy's, and J.C.? Penney's use a pricing? strategy, which is directly the opposite of? EDLP, everyday low prices. What pricing tactic do they use that involves charging higher prices on an everyday basis and frequent promotions to lower prices temporarily on selected items through? sales, coupons, and other promotional? activities?
25-The pricing variable is closely related to the other four elements of the market mix.? However, price differs dramatically from? product, placement, and promotion in terms of the speed with which it can be changed. Which of the following factors differentiates price as a market mix? variable?
Chapter 14
1-A consumer is ready to buy a new refrigerator and has done some comparison shopping. She heads to Home Depot to do one last comparison between two? side-by-side units with the external ice dispenser—one is an LG? model, which she thinks she likes? more, and the other is a Frigidaire. At what stage in the buying readiness process is? she?
2-The marketer is developing an appeal to buyers that tells a story about a daughter leaving for college and her parents being? sad, and then going to The Olive Garden where the message is? communicated, "You're? family." What is the appeal of this? message?
3-Some industry experts predict that the traditional? mass-media communication model will become obsolete for all of the following reason but one. Which of the following is driving IMC decisions away from the? mass-communication model?
4-What is currently considered to be the? "hottest" element of the market mix given the rapidity with which it? changes?
5-Which of the IMC tool mixes includes? broadcast, print,? online, mobile,? outdoor, and other forms of? communication?
6-In the communication? process, what are the two parties who are involved in the? process?
7-In the dynamic arena of IMC? decisions, the marketing manager must respond to many recent changes in the marketplace. Which of the following is currently an issue with which marketers must? deal?
8-To deliver a clear and compelling? message, each tool of the promotional mix must be fully coordinated with what? concept?
9-Which method is not one of the four common methods used to set the total budget for? advertising?
10-As the marketer begins to develop an effective? message, he is advised to follow the AIDA model. What is the final element of? AIDA?
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11-To develop an effective integrated marketing communications? program, the first step is to identify the target market. Four of the following five elements are steps in the process. Which of the following steps is second in the?process?
12-The marketing communicator needs to know where in the? buyer-readiness hierarchy the target audience now stands and to what stage it needs to be moved. What is the final stage in the? six-stage process?
13-Of the five tools that comprise the? IMC, which is typically designed to achieve? short-term goals?
14-Of the five tools that comprise the? IMC, which is more directed to the channels and less towards the final? consumer?
15-A marketing manager is concerned about the execution of an ad series being developed for multiple video media. He is concerned about the? colors, layout,? actors, costuming,? background, and sound qualities. About what is he specifically? concerned?
16-?Coca-Cola has developed a video ad campaign that encompasses several different viewing platforms including? TV, digital,? mobile, and social media. What is this approach that combines and integrates multiple media? options?
17-What are marketers called who no longer simply just develop and place TV ads or print ads but instead? create, inspire, and share brand messages and conversations with and among customers across a fluid mix of? paid, owned,?earned, and shared communication? channels?
18-If a firm allocates? 65% of its IMC budget primarily to personal selling and trade promotion toward channel members to induce them to carry the product and promote it to final? consumers, what strategy is being? used?
19-There are several categories of nonpersonal communication channels including major media and what are the? others?
20-?McDonald's, which has? 38% of the? fast-food market? share, sets its monthly promotional budget in the United States at? $22M. Wendy's has? 15% of the? fast-food market share and allocates? $19M to its promotional budget. What method is? Wendy's using to determine the? budget?
21-?McDonald's has been running the? "I'm Lovin'? it" ad campaign for several years. What part of the communication model is described as the process of putting thought into symbolic meaning and? words, "I'm? Lovin' it?"
22-One very personalized version of? communications, which can be very important in communicating about the brand but over which the marketer has little? control, is called? what?
23-How should a marketing manager begin the process of auditing the communication? process?
24-To improve the communication process and ensure the message is fully? communicated, what is advised in the relationship of the sender and the? receiver?
25-Although? advertising, particularly TV? advertising, is very? expensive, there are distinct advantages to using it as a promotional tool. Why does the IMC manager use TV? advertising?
Chapter 15
1- Budweiser ran an ad during the Super Bowl in January? 2012, following? 9-11, in which the team of Clydesdales hauled the Budweiser? dray, stood in front of the Hudson River across from the Twin Towers where the World Trade Center had? stood, and the entire team bowed in respect. This ad style builds? __________ around the product or? service, such as? beauty, love,? intrigue, serenity, or pride.
2- The PR Department in a firm performs many functions. Which one of the following is allocated to personnel in marketing other than the public relations? staff?
3- What is the difference between consumer impressions and consumer? expressions?
4- What is the final step in the process of developing the advertising? program?
5- Where are the costs derived for public? relations?
6- The Progressive Insurance Ad campaign knows that the average person in the target market is exposed to the message 13 times in 3 months. What does this? measure?
7- What are the two major elements that make up advertising? strategy?
8- ?Frito-Lay was looking for new flavors for potato chips and ran a? multi-stage contest among consumers who submitted ideas for new chips. Those entries eventually were narrowed to three flavors which were then manufactured and tested in the market. What tactic was? Frito-Lay employing?
9- Which promotional tool is the least used of the major tools but has the ability to create a very favorable company image and build consumer awareness and preference at a low? cost?
10- ?Maytag, for? years, ran a campaign around the Maytag? repairman, who was the? "loneliest man in? town." The same actor played the role for several decades and was seen doing crossword? puzzles, playing? cards, or reading and waiting for a Maytag machine to break. What is the execution employed in this? campaign?
11- An iPad competitor details its advantages over the iPad in a TV ad and concludes by jokingly? saying, "Do you still think I am? pretty?" What is the objective task of the Microsoft? Surface's ad?
12- There are several sequential decisions a marketer needs to make in developing an advertising program. What is the first step in this? process? Which of the following is not a step correctly identified according to its position in the?sequence?
13- There are several different objectives that an advertisement might be designed to accomplish in reaching a specified target within a distinct period of time. Which one of the following is an element of consumer behavior and is not directly related to advertising? objectives?
14- Although advertising is used mostly by business? firms, a wide range of? not-for-profit organizations,? professionals, and social agencies also use advertising to promote their causes to various target publics. The fiftieth largest advertising spender is what? organization?
15- What does the term? "Madison and? Vine" mean?
16- When the Milk Processor Education Program? (MilkPEP), known for its successful? "Got Milk?" campaign in previous? years, created a campaign to promote the health benefits and boost consumption of chocolate milk through schools and other? communities, what promotional tool did MilkPEP? use?
17- Public relations people use a variety of materials including annual? reports, brochures,? articles, company? newsletters, and magazines to reach and influence their target markets. What are these materials? called?
18- The movie Castaways was written to have the main character work for FedEx and end up on an island in a FedEx plane crash. His only? "companion" was a volleyball made by Wilson sporting goods. Wilson became the? survivor's sole companion and included getting a face drawn on him. What category does this tactic? exemplify?
19- Marketers use several public relations tools. Which one of the following tools is used in the realm of marketing and not? PR?
20- How does the? brand's market share affect the amount spent on the advertising budget for the? brand?
21- Which of the following are legitimate characteristics of advertising? appeals?
22- A print ad for a new BMW model? says, "More powerful than Big? Bertha," has a picture of the? car, and has two brief paragraphs describing the? car's power sources. What are the two paragraphs? called?
23- PR offers the IMC manager many advantages over other promotional tools. Which of the following primary benefits of public relations? (PR) is? inaccurate?
24- When developing an advertising? program, marketing managers must make four important decisions. Which one of the following is the fourth one of those four? steps?
25- How do media planners compute the cost for various? media?
