Which of the following transactions occurred in the marketspace?

Developing a pool of concepts to serve as candidates for new products is the __________ stage of the new-product process.

· [removed]

open innovation

· [removed]

product development

· [removed]

new-product strategy development

· [removed]

idea generation

2

Segmentation based on some subjective mental or emotional attributes, aspirations, or needs of prospective customers is referred to as:

· [removed]

affective segmentation.

· [removed]

psychographic segmentation.

· [removed]

socioeconomic segmentation.

· [removed]

psychosocial segmentation.

3

Marketing research refers to:

· [removed]

the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.

· [removed]

the science of using observable human behavior in order to identify and solve marketing problems.

· [removed]

the use of information technology to find objective solutions to a marketing problem.

· [removed]

the process of systematically collecting and analyzing information in order to define a marketing problem.

4

Online retail purchases by consumers can be the result of several very different approaches, which include: (1) paying dues to become a member of an online discount service; (2) participating in an online auction; (3) going directly to online malls; and (4) _______.

· [removed]

becoming a member of a research group that evaluates new products

· [removed]

becoming a secret shopper

· [removed]

participating in a buying cooperative

· [removed]

using a shopping “bot” to search for a product at locations with the best price

5

Which of the following transactions occurred in the marketspace?

· [removed]

Joan bought a brand new pair of Dansko shoes through Zappos.com.

· [removed]

Corey bought a double-dipped chocolate ice cream cone from the ice cream person when his mobile ice cream truck came down the street.

· [removed]

Connie sold Discovery Toys creative puzzles at an in-home demonstration.

· [removed]

Josh bought his mother a menorah through the Source for Everything Jewish gift catalog by calling a toll-free telephone number.

6

While pricing objectives frequently reflect corporate goals, pricing constraints often relate to:

· [removed]

an organization’s code of ethics.

· [removed]

conditions existing in the marketplace.

· [removed]

the financial realities within the organization itself.

· [removed]

stockholder demands.

7

Which of the following conditions are necessary for marketing to occur?

· [removed]

two or more parties with unsatisfied needs, a desire and an ability to satisfy them, a way to communicate, and something to exchange

· [removed]

two or more people, a method of assessing needs, a way to communicate, and an exchange

· [removed]

two or more people, a product, a reasonable price, and a place to make an exchange

· [removed]

a quality product, a fair price, a clever method of promotion, and a place where a customer can buy the product

8

The goal of a SWOT analysis is to:

· [removed]

identify the critical strategy-related factors that can impact the firm.

· [removed]

determine how raises, bonuses, and dividends will be paid.

· [removed]

identify market research questions in order to develop new products for new market segments.

· [removed]

reorganize the firm’s marketing department.

9

Advertising, personal selling, sales promotion, public relations, and direct marketing are marketing communications alternatives that make up a firm’s __________.

· [removed]

marketing mix

· [removed]

promotional mix

· [removed]

media strategy

· [removed]

communication source

10

Jay stops at the shopping mall to purchase a new pair of jeans from the Diesel store. He is the ultimate consumer in a pipeline from the producer through intermediaries, including the clothing store. This pipeline is actually a _______.

· [removed]

marketing tunnel

· [removed]

consumer market

· [removed]

distribution matrix

· [removed]

marketing channel

11

What is the marketing objective for the growth stage of the product life cycle?

· [removed]

increase market share

· [removed]

maintain brand loyalty

· [removed]

minimize promotion

· [removed]

stress differentiation

12

A global marketing strategy refers to:

· [removed]

the strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.

· [removed]

the strategy currently used by most U.S. domestic firms that when entering a new international market, these firms offer only those products that require the least amount of product adaptation.

· [removed]

the strategy used by multinational firms that have as many different product variations, brand names, and advertising programs as countries in which they do business.

· [removed]

the global strategy of seeking out already established firms in other nations and selling them the rights to manufacture and distribute the firm’s products through a host nation’s local businesses.

13

The study of similarities and differences among consumers in two or more nations or societies is referred to as __________.

· [removed]

international sociographics

· [removed]

transnational finance

· [removed]

market synthesis

· [removed]

cross-cultural analysis

14

Variables such as location, the North American Industry Classification System (NAICS) code, and type of buy are all examples of ways to:

· [removed]

promote NAFTA.

· [removed]

forecast sales to a consumer market.

· [removed]

segment an organizational market.

· [removed]

differentiate products.

15

In the nonprofit world of the performing arts, box office technology has essentially remained the same since the 1980s. A company called Tessitura is trying to change that. Tessitura is able to track every transaction with its patrons in one database. The information collected includes ticket purchases, fund-raising, volunteering, and gift shop purchases that will help symphonies, operas, and theaters develop customer profiles in order to tailor their sales messages to specific individuals. In other words, Tessitura will allow arts groups to engage in:

· [removed]

mainstream marketing

· [removed]

societal marketing

· [removed]

relationship marketing

· [removed]

market aggregation

16

The initial step in the strategic marketing process is to begin planning by conducting a _______.

· [removed]

business portfolio analysis.

· [removed]

situation (SWOT) analysis

· [removed]

market-product analysis and setting goals

· [removed]

diversification analysis

17

Relationship selling refers to:

· [removed]

the practice of building ties to customers based on a salesperson’s attention and commitment to customer needs over time.

· [removed]

when suppliers and sellers combine their expertise and resources to create customized solutions; commit to joint planning; and share customer, competitive, and company information for their mutual benefit, and ultimately the customer.

· [removed]

the assignment of a single salesperson to a single customer throughout the entire sales process.

· [removed]

the practice of maintaining contact with a customer on a regularly scheduled basis following the initial sale of a product or service.

18

Four trends in the past decade have significantly influenced the landscape of global marketing. One of them is:

· [removed]

a more aggressive attitude towards initiating international tariffs and quota systems.

· [removed]

an increase in most countries’ GDPs coupled with an increased degree of consumer ethnocentrism.

· [removed]

a decrease in most countries’ GDPs and a renewal of nationalism.

· [removed]

the emergence of networked global marketspace.

19

The term branding refers to __________.

· [removed]

the establishment of a commercial, legal name under which a company does business

· [removed]

the identification of an organization’s products based upon individual SKUs

· [removed]

an organization’s use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors

· [removed]

the licensing of a name, phrase, design, symbol, or combination of these for a period of 17 years, at which time a firm may renew its intellectual property rights to them

20

Marketing refers to:

· [removed]

the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers.

· [removed]

the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.

· [removed]

the production of products or services that will generate the highest return on investment.

· [removed]

the process of identifying target market segments for a product or service.

21

Environmental scanning refers to:

· [removed]

setting up a regular schedule to assess the performance of different divisions within a firm.

· [removed]

continually acquiring information on events occurring outside the organization to identify and interpret potential trends.

· [removed]

assessing any possible negative impact a firm’s activities might have on the local ecology.

· [removed]

initiating an internal talent search to identify employees who can think “outside the box” to generate solutions to marketing problems caused by changes in the marketing environment.

22

At Mattel, Barbie is child-tested to be sure the doll cannot be broken apart and accidentally choke a child. This type of consumer or safety test occurs during the __________ stage of the new-product process.

· [removed]

new-product strategy development

· [removed]

development

· [removed]

screening and evaluation

· [removed]

market testing

23

A __________ is a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.

· [removed]

mission statement

· [removed]

marketing plan

· [removed]

operation plan

· [removed]

marketing dashboard

24

The product life cycle refers to __________.

· [removed]

a concept that describes the stages a product goes through in the marketplace—introduction, growth, maturity, and decline

· [removed]

a concept that describes the stages a product goes through in the marketplace—early growth, accelerated development, maturity, and decline

· [removed]

a concept that describes the stages a new product goes through from product concept to commercialization

· [removed]

the average life span of a product

25

Computer-based networks that trigger actions by sensing changes in the real or digital world are known as:

· [removed]

intelligence technologies.

· [removed]

global marketing platforms.

· [removed]

smart systems.

· [removed]

convergent systems.

26

Neuromarketing is becoming more important in marketing as experts realize that traditional research methods such as focus groups and surveys may not be enough to understand what drives consumer purchase behavior due to:

· [removed]

Consumers cannot verbalize their emotional responses

· [removed]

It is not possible to formulate questions without bias

· [removed]

The sample size is too small

· [removed]

The data obtained is not quantifiable

27

What is meant by “accelerating the process?”

· [removed]

Increase advertising costs during product launch

· [removed]

Speed up new product time to market

· [removed]

Create a new market space

· [removed]

Identify major competitors early

28

In personal branding, the “price” component of the marketing mix refers to:

· [removed]

The annual cost of maintaining online profiles (such as LinkedIn)

· [removed]

The number of hours you spend job searching

· [removed]

The salary range and job benefits you hope to receive

· [removed]

The expense associated with job-hunting

29

There is no single “generic” marketing plan that can apply to all organizations or all institutions. Rather, the specific format for a marketing plan for an organization depends on the following: the industry, the kind and complexity of the organization, and ________.

· [removed]

the competition

· [removed]

available resources

· [removed]

the financial investment needed

· [removed]

the target audience and purpose

30

Customer value refers to:

· [removed]

the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.

· [removed]

a statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers’ needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers.

· [removed]

the cluster of benefits that an organization promises customers to satisfy their needs.

· [removed]

the need of a customer to receive the highest quality product at the lowest possible price.