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1. We must learn a valuable lesson in marketing. Many sellers make the mistake of paying more attention to the specific products they offer than to the ________ produced by those products.
a. experiences
b. benefits
c. benefits and exper - Answer: c
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2. Marketing consists of actions taken to build and maintain desirable ________ with target audiences involving a product, service, idea, or other object.
a. exchange relationships
b. exchange transactions
c. exchange communication
- Answer: a
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3. The federal government finds it necessary at times to limit demand by reducing the number of customers or to shift their demand temporarily or permanently. Name the term for this type of action.
a. debugging
b. demarketing
c. deregul - Answer: b
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4. We have learned by sad experience that the product concept can lead to marketing ________.
a. failures
b. incongruences
c. myopia
d. malfeasance
e. problems - Answer: c
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5. When designing a marketing strategy, a marketing manager focuses on ________ and ________.
a. social responsibility; the product concept
b. marketing myopia; brand experiences
c. low prices; product benefits
d. the target marke - Answer: d
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According to the production concept, consumers will favor products that are ________ and ________.
a. available; affordable
b. satisfying; quality focused
c. segmented; convenient
d. in high demand; hard to find
e. high-perf - Answer: a
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Jolene's firm believes that consumers will not buy enough of the firm's products unless the firm undertakes a large-scale selling and promotion effort. Jolene's firm is practicing the ________.
a. selling concept
b. marketing concept
c. - Answer: a
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At the corporate level, a company starts the strategic planning process by defining its overall purpose and ________.
a. opinions
b. mission
c. values
d. vision
e. strengths - Answer: b
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Marketing planning at your firm occurs at what levels?
a. business unit; product; market
b. business unit; product
c. business unit; market
d. product; market
e. business unit; financial unit; market - Answer: a
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Which of the following does business portfolio analysis entail?
a. analyzing the current portfolio
b. deciding which units may require additional attention
c. deciding which units should receive more or less investment
d. deciding - Answer: e
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The firm you work for has decided to use the Boston Consulting Group's (BCG's) approach to classify its business units. Upon what is the approach based?
a. customer satisfaction
b. most profitable units
c. customer retention
d. gr - Answer: d
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The BCG relative market share serves as a measure of company ________.
a. diversification
b. strength in the market
c. success
d. profit
e. sales - Answer: b
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A problem with using the BCG matrix centers around the fact that it is ________ oriented instead of ________ oriented.
a. now; market
b. customer; supplier
c. now; future
d. financially; customer
e. future; now - Answer: c
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A common practice among marketers is to increase sales to current customers without changing their products. What is this practice called?
a. product extension
b. market skimming
c. market penetration
d. market development
e - Answer: c
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A common practice among marketers is to identify and develop new markets for their existing products. This practice is called ________.
a. dual adaptation
b. product development
c. market development
d. market skimming
e. ma - Answer: c
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The marketing process identifies the ________ and divides it into smaller ________.
a. market; segments
b. customer; preferences
c. competition; competitors
d. market; market shares
e. industry; markets - Answer: a
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When we practice ________, we arrange for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
a. positioning
b. market positioning
c. product distribution
- Answer: a
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Which SBU produces a lot of cash that the company may use to support other SBUs that need investment?
a. question marks
b. stars
c. dogs
d. cash cows
e. C and D - Answer: d
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Mountain Home Farms is now using the product/market expansion grid. The owners have found it to be quite useful for identifying ________.
a. target markets
b. suppliers
c. key customers
d. new products
e. growth opportunitie - Answer: e
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Your textbook suggested that Starbucks might consider a ________ strategy. This strategy would allow the company to start up or buy businesses outside of its current products and markets.
a. market penetration
b. diversification
c. mark - Answer: b
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Peter Cramer is involved in evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained. What do we call Peter's current work?
a. tactical planning
b. marketing planning
c - Answer: c
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________ is the most basic cause of a person's wants and behavior.
a. Brand personality
b. New product
c. Cognitive dissonance
d. Culture
e. Selective perception - Answer: d
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________ are society's relatively permanent and ordered divisions whose members share similar values, interests, and behaviors.
a. Attitudes
b. Social classes
c. Perceptions
d. Lifestyles
e. Purchase decisions - Answer: b
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A ________ consists of the activities people are expected to perform according to the persons around them.
a. perception
b. lifestyle
c. role
d. motive
e. tradition - Answer: c
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A person's buying choices are further influenced by four major psychological factors. Which is NOT one of these factors?
a. learning
b. perception
c. motivation
d. habitual buying behavior
e. none of the above - Answer: d
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Maslow has a list of human needs from the most pressing to the least pressing. They include all of the following except ________.
a. safety needs
b. social needs
c. need recognition
d. self-actualization
e. physiological nee - Answer: c
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People will forget much that they learn. They tend to retain information that supports their attitudes and beliefs. This is called ________.
a. selective distortion
b. selective attitude
c. selective retention
d. perceptual vigila - Answer: c
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________ describes a person's relatively consistent evaluations, feelings, and tendencies toward an object or idea.
a. Motive
b. Perception
c. Habitual behavior
d. Lifestyle
e. Attitude - Answer: e
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The buyer decision process consists of five stages. Which of the following is NOT one of these stages?
a. need recognition
b. information search
c. purchase decision
d. variety-seeking buying behavior
e. none of the above - Answer: d
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The marketer needs to know about ________that is, how the consumer processes information to arrive at brand choices.
a. lifestyle
b. habitual buying behavior
c. opinion leaders
d. postpurchase dissonance
e. alternative ev - Answer: e
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The marketer's job does not end when the product is bought. After purchasing the product, the consumer will be satisfied or dissatisfied and will engage in ________.
a. product assessment
b. alterative evaluation
c. habitual buying beha - Answer: d
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Blake is in the process of buying a new car. He is highly involved in the purchase and perceives significant differences among his three favorite models. Blake will likely undertake ________.
a. complex buying behavior
b. postpurchase behavio - Answer: a
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By ________ the market and having several detergent brands, Procter & Gamble has an attractive offering for consumers in all important preference groups.
a. segmenting
b. dividing
c. reaching
d. researching
e. understand - Answer: a
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Al Moline and his staff have decided to use target marketing to reach their sales goals. Identify their three steps (in order) to target marketing.
a. market positioning, market positioning, market segmentation
b. market segmentation, target - Answer: b
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Your firm has decided to localize its products and services to meet local market demands. A good approach to use would be ________ segmentation.
a. benefit
b. end-use
c. customer
d. geographic
e. image - Answer: d
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Mass marketers, such as Target and Venture Stores, ignore market segment differences and target the whole market with one offer. What is their approach to segmenting?
a. target marketing
b. intelligent marketing
c. blanket marketing - Answer: e
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When New Port Shipping uses segmented marketing, it targets several segments and designs separate offers for each one. This approach is called ________ marketing.
a. differentiated
b .multi-segmented
c. multiple-attractions
d. mas - Answer: a
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Ad man Rosser Reeves believes that firms should develop a USP for each brand and stick to it. For what does USP stand?
a. universally strategic practice
b. unique selling product
c. unique sales pitch
d. unique selling proposition - Answer: d
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Your current assignment at York Foods is to find the major benefits people look for in product classes, the kinds of people who look for each benefit, and the major brands that deliver each benefit. What is this segmentation method called?
a. demog - Answer: e
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Shampoo marketers rate buyers as light, medium, or heavy product users. This is ________.
a. user status
b. behavioral
c. usage rate
d. psychographic
e. benefit - Answer: c
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Segmenting democrats and republicans is an example of ________.
a. intermarket segmentation
b. occasion segmentation
c. demographic segmentation
d. psychographic segmentation
e. A and D - Answer: d
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When two or more parties give something of value to each other in order to satisfy needs or wants, this is called:
a. product orientation.
b. sales orientation.
c. IMC.
d. an exchange process.
e. form utility. - Answer: d
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When Spaulding molds raw materials into the shape of a graphite tennis racket, this represents what type of utility?
a. form
b. possession
c. place
d. time
e. value - Answer: a
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The first step in designing an organization's strategic plan is to:
a. develop marketing plans.
b. define the organizations mission.
c. analyze SBU performance.
d. define the SBUs.
e. specify organizational objectives. - Answer: b
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Morton Salt controls large relative market share in a low growth market. Morton Salt is a _________.
a. dog
b. ram
c. star
d. cash cow
e. question mark - Answer: d
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In a SWOT analysis, which of the following represents an external assessment of the firm's marketing environment?
a. strengths and weaknesses
b. weaknesses and threats
c. opportunities and strengths
d. opportunities and threats - Answer: d
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Learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way is the definition of:
a. intentions.
b. behaviors.
c. aptitudes.
d. attitudes.
e. conative characteristics. - Answer: d
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VALS means
a. various Lifesyles.
b. value Scale.
c. values and Lifestyles.
d. variable Lifestyle Scaling.
e. none of the above. - Answer: c
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A manufacturer determines that there are a large number of boat owners that earn more than $100,000 in his area. A yacht is developed aimed at this group of customers. This is an example of:
a. positioning segmenting.
b. post hoc segmenting. - Answer: c
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When L.L. Bean examines its database of customers to develop a specialty catalogue aimed at its fishermen customers, this is an example of:
a. situation segmentation.
b. post hoc segmentation.
c. geographic segmentation.
d. a prio - Answer: b
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The existence of clear differences in consumer preferences for a product describes which criterion for segmenting markets?
a. Heterogeneity
b. Actionable
c. Accessible
d. Measurable
e. Adaptation - Answer: a
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Coca-Cola has one marketing mix aimed at ten different segments. This is an example of a(n):
a. Cluster strategy.
b. Undifferentiated strategy.
c. Differentiated strategy.
d. Concentrated strategy.
e. Unconcentrated strategy - Answer: d
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The broader concept of the consumer brings into focus three different roles that are
a. purchasers, deciders, providers.
b. buyers, users, disposers.
c. users, buyers, disposers.
d. users, payers, buyers.
e. deciders, payers - Answer: d
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The steps in the consumer decision-making process flow as follows:
a. problem recognition, information search, alternative evaluation, purchase, post-purchase evaluation.
b. problem recognition, information evaluation, alternative search, pur - Answer: a
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When you were beginning the process of determining which university to go to, you likely initially started out with
a. an awareness set.
b. an evoked set.
c. a large set.
d. a consideration set.
e. all of the universities av - Answer: a
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Which type of choice model for alternative evaluation involves considering all of the product attributes and trading off some weaknesses for other strengths?
a. compensatory model
b. conjunctive model
c. disjunctive model
d. lexic - Answer: a
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When a consumer feels doubt about making the correct decision after purchasing a new car, this is an example of:
a. VALS.
b. psychographics.
c. cognitive dissonance.
d. motivation.
e. selective distortion. - Answer: c
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When the $1.3 billion toothpaste market has products that are for kids, teeth whitening, and gum care, this is an example of ________ segmentation.
a. homogeneous
b. situation
c. mapping
d. benefits-sought
e. positional - Answer: d
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When Cocoa-Cola Co. advertises Classic Coke as "the real thing," this is an example of what type of strategy?
a. Positioning
b. Mass marketing
c. Situation
d. Geographic
e. Segmenting - Answer: a