Marketing Warm-Up 1

  1. What is marketing?

    B.  Marketing is a process of creating customer value.
  2. In the final step of the​ five-step marketing​ model, companies​ __________.

    E.  reap the rewards of creating customer value
  3. ​__________ is the act of obtaining a desired object from someone by offering something in return.

    C. Exchange
  4. A​ brand's __________ involves the set of benefits or values it promises to deliver to consumers.

    E. value proposition
  5. The​ __________ concept holds that consumers will favor products that are available and affordable.

    E. production
  6. Customer relationship building blocks consist of​ __________.

    A. customer value and satisfaction
  7. Which is the​ fastest-growing digital marketing​ platform?

    D. Mobile marketing
  8. ​__________ marketing is perhaps the​ fastest-growing digital marketing platform.

    D. Mobile
  9. The first step in strategic planning involves​ __________.

    D. defining the​ company's mission
  10. A​ company's mission statement should be focused on​ __________.

    D. customers
  11. The major activity in strategic planning is the analyses of a business​ __________.

    D. portfolio
  12. Within the​ growth-share matrix,​ "cash cows" are​ __________.

    C. ​low-growth, high-share businesses or products
  13. Each department can be thought of as a link in the​ company's __________.

    E. value chain
  14. __________ plays a key role in the​ company's strategic planning.

    B. Marketing
  15. ​__________ involves evaluating each market segments attractiveness and selecting one or more segments to enter.

    B. Market targeting
  16. ​__________ refers to activities that communicate the merits of the product and persuade target customers to buy it.

    C. Promotion
  17. In SWOT​ analyses, the favorable factors or trends in the external environment that the company may be able to exploit to its advantage are referred to as​ __________.

    C. opportunities
  18. The most common form of marketing organization is​ __________.

    A. functional organization
  19. __________ are distribution channel firms that help the company find customers or make sales for them.

    A. Resellers
  20. The​ "echo boomers" is another name for​ __________.

    E. millennials
  21. The​ __________ environment consists of economic factors that affect consumer purchasing power and spending patterns.

    E. economic
  22. Shortages of certain raw materials is a major trend related to the​ __________ environment.

    C. natural
  23. The​ __________ environment is the most dramatic force shaping the destiny of the markets and marketing.

    C. technological
  24. Business legislation has been enacted for a number of reasons which include all of the following except​ __________.

    B. developing a code of ethics
  25. The​ __________ environment consists of institutions and other forces that affect a​ society's basic values.

    C. cultural
  26. ​A(n) __________ stance by companies toward the marketing environment is preferred over a reactive stance.

    C. proactive
  27. Many companies view the marketing environment as​ a(n) __________ element to which they must react and adapt.

    A. uncontrollable
  28. When​ McDonald's offers healthy menu choices and uses recyclable​ packaging, it is most appropriately following the​ __________.

    C. sustainable marketing concept
  29. The​ __________calls for socially and environmentally responsible actions that meet the present needs of consumers and needs of future generations.

    E. sustainable marketing concept
  30. Critics have charged that some companies use ​__________​, causing their products to become unfashionable before they actually should need replacement.

    A. planned obsolescence
  31. GlaxoSmithKline has stated in its​ ads, "Today's medicines finance​ tomorrow's miracles." Considering the criticisms of marketing this statement can be related to​__________.

    D. excessive​ mark-up
  32. Based on​ consumerism, the traditional​ sellers' rights include all of the following except​ __________.

    D. the right to be protected against questionable products and marketing practices
  33. According to the environmentalism​ movement, at the most basic​ level, a company can practice ​__________.

    C. pollution prevention
  34. Marketing means that the company should define its strategy in broad social terms rather than narrow product terms.

    C. ​Sense-of-mission
  35. ​__________ products have low immediate appeal but may benefit consumers in the long run.

    E. Salutary
  36. Conscientious marketers face many​ dilemmas, which include all of the following except​ __________.

    B. companies and their managers are not responsible for making moral judgments
  37. Which statement does not describe sustainable​ companies?

    B. By setting​ guidelines, sustainable companies can resolve all the difficult ethical decisions.
  38. Compared to the mainstream buying​ public, Hispanic consumers tend to be deeply​ __________ oriented, making this a special characteristic and behavior.

    B. family
  39. According to the​ stimulus-response model of buyer​ behavior, marketing and other stimuli enter the​ consumer's __________ and produce certain responses.

    D. black box
  40. Consumer purchases are influenced strongly by certain characteristics which include all of the following except​ __________.

    E. cognitive
  41. Consumer​ motivation, perception, and learning are related to the​ __________ factors influencing consumer behavior.

    E. psychological
  42. ​__________ behavior occurs when consumers are highly involved with an​ expensive, infrequent, or risky purchase but see little difference among brands.

    C. ​Dissonance-reducing buying
  43. When does the habitual buying behavior​ occur?

    C. Under conditions of​ low-consumer involvement and little significant brand difference
  44. In the product adoption​ process, __________.

    D. there are five stages
  45. The first group marketers try to bring their new products to the attention to are potential​ __________.

    A. innovators
  46. Which of the following statements is not a difference between business markets and consumer​ markets?

    E. The market is very small and limited.
  47. Business markets have demand that​ __________.

    C. is inelastic
  48. A business buying situation in which the buyer reorders something without any modifications is known as a​ __________

    E. straight rebuy
  49. ​__________ are members of the buying center who help define specifications and provide information for evaluating alternatives.

    D. Influencers
  50. Developing product specifications follows​ __________ in the business buyer decision process.

    D. general need description
  51. ​__________ includes the final order with the chosen supplier or suppliers and lists other required items.

    C. ​Order-routine specification
  52. To do​ e-procurement, companies can conduct ​__________​, in which they put their purchasing requests online and invite suppliers to bid for the business.
    A. trading exchanges
    B. extranet link
    C. intranet link
    D. company buying site
    E. reverse auctions
    E. reverse auctions
  53. The rapidly expanding use of​ e-procurement in​ business-to-business deals provides several​ advantages; however, one of the disadvantages is​ __________.

    C. it pits suppliers against one another
  54. Institutional markets are​ __________.

    B. characterized by low​ budget, captive patrons
  55. Hospital purchasing agents should prefer​ __________.

    C. food vendors with low prices and quality products
  56. Market​ __________ evaluates each market​ segment's attractiveness and selects one or more segments to serve.

    E. targeting
  57. The step in designing a customer valuedash–driven marketing strategy in which a company divides a market into distinct groups of buyers is known as market​ __________.

    D. segmentation
  58. ​__________ segmentation divides buyers into different segments based on lifestyle or personality characteristics.

    E. Psychographic
  59. ​__________ segmentation divides buyers into segments based on their​ knowledge, attitudes,​ uses, or responses to a product.

    D. Behavioral
  60. Using​ a(n) __________ marketing​ strategy, a firm might decide to ignore market segment differences.

    D. undifferentiated
  61. Instead of going after a small share of a large​ market, a firm goes after a large share of a smaller niche segment. This type of marketing strategy is known as​__________.

    C. concentrated marketing
  62. The winning value proposition by discount stores such as Walmart and Best Buy can be categorized as​ __________.

    C. the same for less
  63. Blood donations to the Red Cross are considered​ __________ products.

    E. unsought
  64. Freedom from defects and consistency in delivering a targeted level of performance is an attribute of​ product's __________.

    B. conformance quality
  65. Which of the following is not considered one of the links in the service profit​ chain?

    B. Buyer–seller interaction
  66. ​__________ is a measure of the​ brand's ability to capture consumer preference and loyalty.

    E. Brand equity
  67. The branding strategy of launching a product or service as a national or store brand is considered a​ __________.

    D. brand sponsorship
  68. New product development starts with​ __________.

    C. idea generation
  69. Through a company invites broad communities of people into the innovation process.

    D. crowdsourcing
  70. ​__________ development focuses on finding new ways to solve customer problems.

    A. ​ Customer-centered new product
  71. Profits increase during the​ __________ stage of the product life cycle.

    C. growth
  72. One of the disadvantages of product and service standardization for international market is​ __________.

    A. varying worldwide market
  73. What is the stage in competitor analysis in which marketing management tries to find out​ competitors' objectives?

    E. Assessing competitors
  74. ​"Kodak didn't lose out to competing film makers such as​ Fuji; it fell to the makers of digital cameras that use no film at​ all." This statement is a classic example of​__________.

    E. competitor myopia
  75. A winning strategy for competitive positioning in which the company concentrates on creating a product line and marketing program so that it comes across as the class leader in the industry is referred to as​ __________.

    D. differentiation
  76. The most preferred orientation for companies is​ __________.

    C. to be market oriented
  77. Market nichers who focus on companies such as Walmart or General Motors are referred to as​ __________.

    E. specific customer nicher
Card Set
Marketing Warm-Up 1