MKT 102 Final Exam Answers (California Coast University)
Which of the following is the most likely result of a marketing strategy that attempts to serve all
Family Dollar stores pro tably focusing on buyers who have relatively modest means is an example of ____________
The ______________ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do.
Customer-driven marketing is most likely to work well when _____________ and when customers ______________.
Of the following, which is the most important concept of modern marketing?
Which of the following strategies would a company most likely use to increase customer satisfaction?
Greater consumer control means that companies must rely more on marketing by _____________ than by __________
When the economy tightens, customer loyalty and customer retention become ______________ for marketers.
Greater consumer control means that companies must rely more on marketing by _____________ than by ______________.
When the economy tightens, customer loyalty and customer retention become ______________ for marketers.
Which of the following is a true statement about the economic crisis that began in 2008?
Ben & Jerry’s challenges all stakeholders, including employees, top management and even ice cream scoopers in their stores to consider individual and community welfare in their day-to-day decisions. Actions such as this by companies seizing the opportunity to do well by doing good re ects _____________
A ______________ de nes a business in terms of satisfying basic customer needs.
When the makers of a ballpoint pen state they are in the communication equipment business, they are de ning their mission too ___________
All of the following are examples of product-oriented mission statements, EXCEPT which one?
If Under Armour, the successful maker of moisture-wicking shirts and shorts, considered introducing a line of Under Armour tness equipment, the company would be considering ______________.
Each department in a company that carries out value-creating activities can be thought of as a link in the company’s ______________.
The process of customer-driven marketing involves ______________, ______________, ______________, and ______________.
Effective positioning begins with ______________ the company’s marketing offer in order to give consumers more perceived value.
The ______________ organizational format was rst used by Procter and Gamble in 1929.
Kimball Gardens is a company that operates as two distinct businesses: one that sells lawn and garden products and one that markets booklets. Each business is called a ______________
All of the groups within a company are called the __________
Your marketing department is currently researching the size, density, location, age and occupations of your target market. Which environment is being researched?
The most important demographic trend in the United States is the ________
Which of the following demographic groups has NOT seen a percentage increase in the past 50 years?
The ______________ environment consists of factors that affect consumer purchasing power and spending patterns.
Even the most liberal advocates of free-market economies agree that the system works best with ______________ regulation.
Noora DeLange is helping her company develop a marketing program for a new product line. The program involves emphasizing experience over acquisition and uses a marketing pitch that is less overt than the company’s previous programs. The marketing program is most likely designed to appeal to which of the following demographic groups?
Chet Hoffman’s chain of travel agencies has identi ed the lesbian, gay, bisexual and transgender community as a growing market that spends an increasing percentage of its income on travel. Which of the following would be the least effective component of a marketing plan for Chet to take advantage of this opportunity?
Consumers undertaking which of the following would be most likely to be identi ed as “cocooning” or “nesting”?
Which of the following is NOT considered a source of marketing intelligence?
What is the rst step in the marketing research process?
Ethnographic research _____________
Experimental research is best suited for gathering ______________ information
Which contact method for marketing research is exible, allows for explanation of dif cult questions and lends itself to showing products and advertisements?
When managers use small convenience samples such as asking customers what they think or inviting a small group out to lunch to get reactions, they are using _______
The availability of which of the following is most problematic in international marketing research?
The best approach for researchers to take to guard consumer privacy includes all of the following EXCEPT which one?
For a small business manager deciding where to relocate within the city, relevant research will LEAST likely include ______________.
The marketer wants to understand how the stimuli are changed into responses inside the consumer’s ______________, which has two parts: the buyer’s characteristics that in uence how he or she perceives and reacts to the stimuli and the buyer’s decision process itself.
Each culture contains smaller ______________, or groups of people with shared value systems based on common life experiences and situations.
This group of consumers tends to buy more branded, higher-quality products and to make shopping a family event with children having a big say in the purchase decision. In general, they are very brand loyal and they favor companies who show special interest in them.
What is one way that social class is NOT measured?
A buyer’s decisions are in uenced by ______________ such as the buyer’s age and life-cycle stage, occupation, economic situation, lifestyle and personality and self-concept.
Almost all major purchases result in ______________, or discomfort caused by postpurchase con ict.
Kroger buys a lot of cranberry products at Christmas due to high consumer demand. This is an example of ______________ demand.
What are the four steps, in order, to designing a customer-driven marketing strategy?
Through market segmentation, companies divide large, heterogeneous markets into smaller segments that can be reached more ______________ with products and services that match their unique needs.
When Positive Image, Inc., caters to clothing, cosmetics and toiletries markets, it is most likely using which type of segmentation?
Barney Hopkins has compiled a list of things that make segments more attractive. Which of the following items should NOT be on the list?
When marketers at Procter & Gamble selected the Millennials, a demographic that includes college students, as an untapped group of potential customers for their Febreze line of products, they were executing which step in the process of designing a customer-driven marketing strategy?
A marketer focuses on several commonalities among all consumers. This marketer appears to be engaging in ______________.
Product planners consider products and services on three levels. The most basic level is the ______________, which addresses the question, “What is the buyer really buying?”
Most manufactured materials and parts are sold directly to ______________. Price and service are the major marketing factors; branding and advertising tend to be less important.
All of the following are a manufacturer’s sponsorship options for a product EXCEPT ______________.
You have an upset stomach. Your spouse rushes to the corner convenience store for a bottle of Pepto-Bismol. This product is a(n) ______________ product.
Which of the following capital items is NOT considered accessory equipment?
The Ad Council of America has developed dozens of ______________ marketing campaigns including classics such as “Smokey the Bear,” “Keep America Beautiful,” and “Only You Can Prevent Forest Fires.”
For some ______________, a simple description consisting of a word or picture might be suf cient.
Bonneville Communications is concerned about test marketing its new device. Which of the following is NOT a disadvantage of test marketing that would likely concern Bonneville Communications?
The search for new-product ideas should be ______________ rather than ______________.
Increasing pro ts will most likely occur at which stage of the PLC?
At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production and nance work in a cross-functional group to save time and money in the
new product development process. Fantastic Flavors uses a(n) ______________ approach.
When Kraft focused on cost-cutting with its older and established brands, leaving them without much investment or modi cation, Kraft had decided to ______________ the older products.
______________ uses buyers’ perceptions of what a product is worth, not the seller’s cost, as the key to pricing.
When there is price competition, many companies adopt ______________ rather than cutting prices to match competitors.
Price setting is usually determined by ______________ in large companies.
What type of pricing is being used when a company temporarily prices its product below the list price or even below cost to create buying excitement and urgency?
Busch Stadium in St. Louis charges different prices for seats in different areas of the ballpark even though their costs are the same. What is this form of pricing called?
When a company is identifying its major channel alternatives, it should consider its choices in terms of types, number and ______________ of intermediaries.
Which type of distribution is used when the producer wants more than one, but fewer than all, of the intermediaries who are willing to carry its products?
When establishing the responsibilities of channel members, the producer establishes a
list price, gives a fair set of discounts for intermediaries and de nes each channel member’s ______________.
What is the goal of integrated supply chain management?
Proud Pets, a producer of clothing and accessories for pets, has recently partnered with a regional chain of pet stores. Which of the following would Proud Pets be LEAST likely to expect from its new channel member?
Which of the following retailers likely put the most emphasis on salespeople assisting customers?
______________ are ourishing due to increased use of market segmentation and market targeting.
Costco’s surprise offerings of seconds, overstocks and closeouts, occasionally including diamonds, is an example of how a retailer can differentiate itself through _______
A ______________ is a group of retail businesses planned, developed, owned and managed as a unit.
_____________ and ______________ do not take title to goods and they perform only a few channel functions.
Which of the following is NOT a factor in the changes occurring in today’s marketing communications?
All of the following are important decisions during the process of developing an advertising program EXCEPT which one?
A product in the maturity stage will often require ______________ advertising.