MGMT 105 Quiz 1 (Ch. 1-4)

Which of the following describes the ultimate user of a good or service?

A. Marketer

B. Advertiser

C. Competitor

D. Final User

E. Consumer

Consumer

Which of the following terms is defined by the activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large?

A. Advertising

B. Instructor Manual

C. Marketing

D. Consumer Manual

E. Social Media

Marketing

Which of the following is NOT one of the "Four P's"

A. Product

B. Price

C. Place

D. Promotion

E. Profit

Profit

A product can be all of the​ following, except​ a(n) _____.

A. Place

B. Price

C. Good

D. Idea

E. Service

Price

​_____ includes many different activities marketers undertake to inform consumers about their products and to encourage potential customers to buy these products.

A. Price

B. Place

C. Profit

D. Promotion

E. Product

Promotion

​_____ refers to the availability of the product to the customer at the desired time and location.

A. Price

B. Product

C. Promotion

D. Profit

E. Place

Place

Intangible products that are paid for and​ used, but not owned are known as​ _____.

A. Consumer Goods

B. Ideas

C. Advertisements

D. Exchanges

E. Services

Services

Which of the following is NOT one of the four distinct eras in the evolution of​ marketing?

A. Relationship Era

B. Sales Era

C. Social Media Era

D. Triple-Bottom-Line Era

E. Production Era

Social Media Area

The​ _____ marketing concept states that marketers must satisfy​ customers' needs in ways that also benefit society while they still deliver a profit to the firm.

A. Financial

B. Customer

C. Societal

D. Quality

E. Environmental

Societal

If a company states in its advertisements that​ 10% of all profits go to planting trees in various parts of the​ world, that company is engaging in​ _____ marketing.

A. Transplanting

B. Green

C. Brown

D. Forest

E. Blue

Green

ROMI is an acronym that stands for​ _____.

A. Real operational marketing instructions

B. Return on marketing investments

C. Return on my investments

D. Random operations mixed in

E. Return on monetary investments

Return on Marketing Investments

Suppose that you receive a text message on your phone from one of your favorite online retailers about a​ 50% off sale for the next 24​ hours, and​ you're very excited about this news. The company that sent you the text message is engaging in​ _____ marketing.

A. Green

B. Annoyance

C. Mobile

D. Social Media

E. Traditional

Mobile

When the Lego Movie​ appeared, the intent was not necessarily to sell more​ Legos, but the firm did have a say in decisions about details of the movie. The movie itself is an example of​ _____ content.

A. Business to Business

B. User-Generated

C. Production

D. Consumer-Generated

E. Branded

Branded

A marketplace offering that fairly and accurately sums up the value that the customer will realize if he or she purchases the product is known as​ a(n) _____.

A. Value Line

B. Value Proposition

C. Value Summation

D. Absolute Value

E. Accurate Value

Value Proposition

Which of the following is the formula for calculating the lifetime value of a​ customer?

A. The amount a person will spend TIMES the cost to maintain the relationship.

B. The amount a person will spend DIVIDED BY the cost to maintain the relationship.

C. The amount a person will spend MINUS the cost to maintain the relationship.

D. The amount a person will spend PLUS the cost to maintain the relationship.

E. The amount a person will spend TIMES PLUS the cost to maintain the relationship.

The amount a person will spend MINUS the cost to maintain the relationship

An edge that a firm has over its competitors that allow it to have higher​ sales, higher​ profits, and more customers is known as​ _____.

A. Distinctive competency

B. Triple Bottom Line

C. Core Competency

D. Higher Advantage

E. Competitive Advantage

Competitive Advantage

​Coca-Cola is superior to its competitors in its distribution of products. This is an example of​ _____ competency.

A. Superior

B. Distinctive

C. Distributional

D. Managerial

E. Advantage

Distinctive

Suppose a restaurant offers breakfast options​ 24-hours a​ day, however, none of the competition even offers breakfast options. This would be an example of​ a(n) _____ benefit.

A. Competition

B. Green

C. Interpretive

D. Superior

E. Differential

Differential

Which of the following is NOT one of the activities involved in the value​ chain?

A. Designing

B. Marketing

C. Disposing

D. Delivering

E. Producing

Disposing

Facebook and Twitter are examples of​ _____.

A. Not-for-Profit Companies

B. Social Networking Platforms

C. Distinctive Competencies

D. Value Chains

E. Tangible Goods

Social Networking Platforms

​_____ is the industry term for inventory and cash losses from shoplifting and employee theft.

A. Pickpocket

B. Shrinkage

C. Loss Leader

D. Ballooning

E. Gravy Boating

Shrinkage

A document that describes the marketing​ environment, outlines the marketing objectives and​ strategy, and identifies who will be responsible for carrying out each part of the marketing strategy is known as​ a(n) _____ plan.

A. Profit

B. Operational

C. Marketing

D. Human Resources

E. Accounting

Marketing

If you own a small retail shop and you put ads in the local​ paper, put flyers on doors in every​ neighborhood, and buy billboards in the area so that you can reach as many potential consumers as​ possible, you are engaging in​ _____ marketing.

A. Mass

B.. Specific

C. Segmented

D. Niche

E. Targeted

Mass

If you own a sports bar and restaurant and cater specifically to​ sports-minded individuals in your food​ offerings, decoration,​ events, and​ ambiance, then you are likely targeting a specific​ _____.

A. Total Population

B. Mass Market

C. Marketing Plan

D. Market Segment

E. Intangible

Market Segment

Suppose you work for a company that manufactures and markets toys. You wish to use social media to reach young parents in the​ 20- to​ 28-year-old range. This market segment would be your​ _____.

A. Target Market

B. Mass Market

C. Cluster

D. Total Population

E. Marketing Grouping

Target Market

Which of the following is defined as the flow of goods and services among different countries - the total value of all the exports and imports of the​ world's nations?

A. Protectionism

B. World Trade Organization (WTO)

C. World Trade

D. General Agreement on Tariffs and Trade (GATT)

E. Countertrade

World Trade

The​ _____ consisted of a series of​ anti-government protests and uprisings in a number of Arab countries that were largely aided by new social media​ tools, gave hope to many that dictatorships in countries in the Middle East would become democracies and bring a better life to peoples of the countries.

A. Anti-Dictator Movement

B. Middle East Protest Movement

C. Occupy the Desert Uprising

D. Arabian Uprising

E. Arab Spring

Arab Spring

Firms consider four steps when determining whether or not to go global. Which of the following is the third step in the​ process?

A. Develop Marketing Mix Strategies

B. Market-Entry Strategy and Commitment

C. "Go" or "No-Go"

D. Develop standardization across operations

E. "Go"

Market-Entry Strategy and Commitment

Which of the following terms refers to limitations set by a government on the amount of a product allowed to enter or leave a country?

A. Tariffs

B. Economic Communities

C. Embargo

D. Protectionism

E. Quota

Quota

The price of one​ country's currency in terms of another​ country's currency is known as the​ _____.

A. Balance of Payment

B. Dollar Rate

C. Money Exchange

D. Exchange Rate

E. Currency Fluctuation

Exchange Rate

France, Germany, Greece, Ireland, and Italy are all members of which economic community?

A. CACM

B. ASEAN

C. MERCOSUR

D. SAPTA

E. EU

EU

Which of the following countries make up the economic community known as​ NAFTA?

A. Costa​ Rica, El​ Salvador, Guatemala,​ Honduras, and Nicaragua

B. Canada, Mexico, and the United States

C. ​Philippines, Singapore,​ Thailand, and Vietnam

D. Bolivia, Colombia,​ Ecuador, and Peru

E. ​Brazil, Paraguay,​ Uruguay, and Argentina

Canada, Mexico, and the United States

Which of the following is the MOST commonly used measure of a​ country's economic​ health?

A. LDC

B. GDP

C. Foreign Exchange Rate

D. Economic Infrastructure

E. Level of economic development

GDP

An economy experiencing falling​ demand, employment, and income is in which stage of the business​ cycle?

A. Recession

B. Recovery

C. Standard of Living

D. Prosperity

E. Inflation

Recession

Which term refers to the process of gathering and analyzing publicly available information about​ rivals?

A. Brand Competition

B. Product Competition

C. Competitive Intelligence

D. G8

E. Bottom of the Pyramid (BOP)

Competitive Intelligence

Which competitive macroenvironment do many athletic shoe​ manufacturers, including​ Nike, New​ Balance, Adidas, and more​ recently, Under​ Armour, vigorously compete with one another for​ consumers?

A. Oligopoly

B. Competitive intelligence

C. Perfect Competition

D. Monopolistic Competition

E. Monopoly

Monopolistic Competition

Which law prohibits harmful practices in the production of beef meant for human​ consumption?

A. Food and Drug Act

B. Prescription Drug Marketing Act

C. Fair Packaging and Labeling Act

D. Child Protection and Toy Safety Act

E. Federal Trade Commission Act

Food and Drug Act

Which of the following would be considered a developing or newly industrialized​ country?

A. Japan

B. United States

C. England

D. France

E. Brazil

Brazil

Which of the following refers to a form of protectionism that stipulates a certain proportion of a product must consist of components supplied by industries in the host country or economic​ community?

A. US Generalized System of Preferences (GSP)

B. Economic Sanctions

C. Expropriation

D. Nationalization

E. Local Content Rules

Local Content Rules

Which of the following terms indicates ways to​ dress, how to​ speak, what to​ eat, how to​ eat, and how to​ behave?

A. Collectivist Culture

B. Demographics

C. Individualist Culture

D. Consumer Ethnocentrism

E. Social Norms

Social Norms

Which term refers to a market entry strategy involving two or more firms creating a new​ entity, allowing the partners to pool their resources for common​ goals?

A. Exporting

B. Franchise Agreement

C. Joint Venture

D. Licensing Agreement

E. Direct Investment

Joint Venture

Which of the following market entry strategies involves an agreement in which one firm gives another firm the right to produce and market its product in a specific country or region in return for​ royalties?

A. Franchise Agreement

B. Direct Investment

C. Licensing Agreement

D. Exporting

E. Joint Venture

Licensing Agreement

If a firm retains the same product for domestic and foreign​ markets, the company is demonstrating which type of product​ strategy?

A. Straight Extension Strategy

B. Backward invention Strategy

C. Product Adaption Strategy

D. Strategic Alliance

E. Product Invention Strategy

Straight Extension Strategy

Which term refers to items that are imported without the consent of the trademark​ holder?

A. Product Adaption

B. Free trade zone

C. Gray Market Goods

D. Backward Invention Strategy

E. Dumping

Gray Market Goods

​_____ occurs when someone voluntarily offers payments to get an illegal advantage.

A. Ethical Relativism

B. Bribery

C. Exchange

D. Extortion

E. Payment Plan

Bribery

Which of the following occurs when someone in authority extracts payment under​ duress?

A. Bribery

B. Business Ethics

C. Ethical Relativism

D. Code of Ethics

E. Extortion

Extortion

What part of the sustainable marketing mix involves producing more environmentally friendly​ products, such as electric​ automobiles?

A. Promotion Strategies

B. Target Marketing Strategies

C. Price Strategies

D. Product Strategies

E. Place Strateegies

Product Strategies

Which of the following refers to a sustainability metric that refers to the net fuel energy in BTUs consumed to provide organizational heat and power​ requirements?

A. Pollutant (Greenhouse Gas) Emissions

B. Material Intensity

C. Energy Intensity

D. Water Consumption

E. Toxic Emissions

Energy Intensity

Which of the following is a sustainability metric that refers to pounds of pollutants emitted in the process of creating organizational​ output?

A. Toxic Emissions

B. Energy Intensity

C. Pollutant (Greenhouse Gas) Emissions

D. Water Consumption

E. Material Intensity

Pollutant (Greenhouse Gas) Emissions

Within the food​ industry, a growing trend is​ locavorism, which means consumers actively look for products that come from farms within​ _____ miles of where they live.

A. 1000 to 2000

B. Over 2000

C. 500 to 1000

D. 50 to 100

E. 100 to 500

50 to 100

Which of the following terms refers to an ongoing process of making decisions that guides the firm both in the short term and for the long​ term?

A. Functional Planning

B. Business Planning

C. Operational Planning

D. Marketing Planning

E. Strategic Planning

Business Planning

Which the following refers to a plan that includes the decisions that guide the entire​ organization?

A. Strategic Plan

B. Business Plan

C. Operational Plan

D. Functional Plan

E. Strategic Business Units (SBUs)

Business Plan

Which of the following is the document that describes the marketing​ environment, outlines the marketing objectives and​ strategy, and identifies who will be responsible for carrying out each part of the marketing​ strategy?

A. Operational Plan

B. Strategic Plan

C. Business Plan

D. Functional Plan

E. Marketing Plan

Marketing Plan

Which of the following refers to a managerial decision process that matches an​ organization's resources and capabilities to its market opportunities for​ long-term growth and​ survival?

A. Business Planning

B. Operational Planning

C. Functional Planning

D. Strategic Business Units (SBUs)

E. Strategic Planning

Strategic Planning

Which of the following refers to individual units within a firm that operate like separate​ businesses, with each having its own​ mission, business​ objectives, resources,​ managers, and​ competitors?

A. Diversification Strategies

B. Business Portfolio

C. Strategic Plan

D. Strategic Business Units (SBUs)

E. Market Development Strategies

Strategic Business Units (SBUs)

Assume you are the director of marketing for a major consumer products firm. You are directly involved in the planning process. Because of your role​ (job title) in the​ organization, when it comes to business​ planning, which level of planning would MOST describe your​ activities?

A. Strategic Planning

B. Business Planning

C. Functional Planning

D. Strategic Business Units (SBUs)

E. Operational Planning

Functional Planning

Which of the following planning processes focuses on developing detailed plans for​ day-to-day activities that carry out an​ organization's functional​ plans?

A. Strategic Business Units (SBUs)

B. Functional Planning

C. Business Planning

D. Strategic Planning

E. Operational Planning

Operational Planning

Which of the following terms refers to a formal statement in an​ organization's strategic plan that describes the overall purpose of the organization and what it intends to achieve in terms of its​ customers, products, and​ resources?

A. Business Plan

B. Situation Analysis

C. Mission Statement

D. SWOT Analysis

E. Return on Marketing Investments

Mission Statement

In step 2 of the strategic planning​ process, a firm engages in​ a(n) ________ to assess its internal and external environments.

A. Situation Analysis

B. Portfolio Analysis

C. Action Plan

D. Operational Plan

E. BCG Growth Market Share Matrix

Situation Analysis

Which of the following would NOT be part of a​ firm's internal environment that would be assessed in step 2 of strategic​ planning?

A. New products being offered by a competitor

B. Portfolio Analysis

C. Situation Analysis

D. SWOT Analysis

E. External Environment

New Products being offered by a competitor

Which of the following terms refers to the uncontrollable elements outside an organization that might affect its performance either positively or​ negatively?

A. Internal Environment

B. Situation Analysis

C. Portfolio Analysis

D. SWOT Analysis

E. External Environment

External Environment

In step 2 of the strategic planning​ process, a firm analyzes its strengths and weaknesses and the opportunities and threats in its internal and external environment. What is this analysis​ called?

A. Situation Analysis

B. BCG Growth Market Share Matrix

C. Product Development Strategy

D. Portfolio Analysis

E. SWOT Analysis

SWOT Analysis

A​ ________ refers to the group of different products or brands owned by an organization and characterized by different​ income-generating and growth capabilities.

A. Strategic Business Unit (SBUs)

B. Business Plan

C. BCG Growth Market Share Matrix

D. Business Portfolio

E. Strategic Plan

Business Portfolio

As part of the strategic planning​ process, step 4 includes conducting a​ ________, which evaluates a​ firm's business mix and assesses the potential of an​ organization's strategic business units.

A. SWOT Analysis

B. Portfolio Analysis

C. Production Development Strategy

D. Situation Analysis

E. BCG Growth Market Share Matrix

Portfolio Analysis

​_____ is a portfolio analysis model developed by the Boston Consulting Group that assesses the potential of successful products to generate cash that a firm can then use to invest in new products.

A. BCG Growth Market Share Matrix

B. Marketing Plan

C. SWOT Analysis

D. Return on Marketing Investment (ROMI)

E. Situation Analysis

BCG Growth Market Share Matrix

According to the BCG growth market share​ matrix, ________ are SBUs with products that have a dominant market share in​ high-growth markets.

A. Stars

B. Dogs

C. Question Marks

D. Cash Cows

E. Squirrels

Stars

According to the BCG growth market share​ matrix, ________ are SBUs with a dominant market share in a​ low-growth-potential market.

A. Stars

B. Dogs

C. Question Marks

D. Cash Cows

E. Squirrels

Cash Cows

According to the BCG growth market share​ matrix, ________ are SBUs with low market shares in​ fast-growth markets.

A. Stars

B. Dogs

C. Question Marks

D. Cash Cows

E. Squirrels

Question Marks

According to the BCG growth market share​ matrix, ________ are SBUs with a small share of a​ slow-growth market. They are businesses that offer specialized products in limited markets that are not likely to grow quickly.

A. Stars

B. Dogs

C. Question Marks

D. Cash Cows

E. Squirrels

Dogs

Which of the following marketing strategies is NOT one of the quadrants in the​ product-market growth​ matrix?

A. Product Development

B. Diversification

C. Market Development

D. Market Penetration

E. Market Investment

Market Investment

A firm seeking a growth strategy designed to increase sales of existing products to current​ customers, nonusers, and users of competitive brands in served markets would utilize which of the following marketing​ strategies?

A. Product Development

B. Diversification

C. Market Development

D. Market Penetration

E. Market Investment

Market Penetration

Which of the following strategies are utilized to introduce existing products to new​ markets?

A. Product Development

B. Diversification

C. Market Development

D. Market Penetration

E. Market Investment

Market Development

In​ _____ of the marketing planning​ process, marketing managers decide which markets to target and develop the marketing mix strategies to support how they want to position the product in the market.

A. Step 5

B. Step 2

C. Step 3

D. Step 1

E. Step 4

Step 3

Which of the following refers to step 4 in the market planning​ process?

A. Select a target market and the best marketing mix strategy

B. Implement and control the marketing plan

C. Set marketing objectives

D. Develop marketing strategies

E. Conduct a situation analysis

Implement and control the marketing plan

Which of the 4 Ps of marketing is MOST closely related to a distribution​ strategy?

A. Product

B. Place

C. Price

D. Promotion

E. Profit

Place

Which of the following refers to an organized collection​ (often electronic) of data that can be searched and queried to provide information about​ contacts, products,​ customers, inventory, and​ more?

A. Database

B. Intranet

C. Data

D. Marketing Information System (MIS)

E. Market Intelligence System

Database

Which of the following refers to a process that first determines what information marketing managers need and then​ gathers, sorts,​ analyzes, stores, and distributes relevant and timely marketing information to system​ users?

A. Database

B. Market Intelligence System

C. Marketing Information System (MIS)

D. Market Research

E. Marketing Decision Support System (MDSS)

Market Intelligence System (MIS)

Organizations can utilize​ a(n) ________ as an internal corporate communication network that uses Internet technology to link company​ departments, employees, and databases.

A. Database

B. Intranet

C. Data

D. Marketing Information System (MIS)

E. Market Intelligence System

Intranet

Which of the following describes a method by which marketers get information about everyday happenings in the marketing​ environment?

A. Database

B. Market Intelligence System

C. Marketing Information System (MIS)

D. Market Research

E. Marketing Decision Support System (MDSS)

Market Decision Support System (MDSS)

Which of the following processes involves physically deconstructing a​ competitor's product to determine how​ it's put​ together?

A. Custom Research

B. Syndicated Research

C. Market Intelligence System

D. Market Research

E. Reverse Engineering

Reverse Engineering

Which of the following refers to the process of​ collecting, analyzing, and interpreting data about​ customers, competitors, and the business environment in order to improve marketing​ effectiveness?

A. Market Intelligence System

B. Custom Research

C. Market Research Ethics

D. Market Research

E. Syndicated Research

Market Research

If a company is collecting data on a regular basis and selling the reports to multiple​ firms, it is conducting which of the following types of​ research?

A. Market Research

B. Exploratory Research

C. Syndicated Research

D. Descriptive Research

E. Custom Research

Syndicated Research

Which of the following types of research refers to research conducted for a single firm to provide specific information its managers​ need?

A. Descriptive Research

B. Exploratory Research

C. Syndicated Research

D. Custom Research

E. Casual Research

Custom Research

Which of the following refers to the data analysis software and interactive software that allow managers to conduct analyses and find the information they​ need?

A. Database

B. Market Intelligence System

C. Marketing Information System (MIS)

D. Market Research

E. Marketing Decision Support System (MDSS)

Market Decision Support System (MDSS)

Which of the following refers to​ raw, unorganized facts that need to be​ processed?

A. Database

B. Information

C. Data

D. Secondary Data

E. Primary Data

Data

Which the following refers to interpreted​ data?

A. Database

B. Information

C. Data

D. Secondary Data

E. Primary Data

Information

Which of the following refers to the​ collection, deployment, and interpretation of information that allows a business to​ acquire, develop, and retain its​ customers?

A. Database

B. Customer Insights

C. Reverse-Engineer

D. Neuromarketing

E. Market Intelligence System

Customer Insights

Which of the following describes a type of primary research involving a technique marketers use to generate insights for​ future, more rigorous​ studies?

A. Custom Research

B. Descriptive Research

C. Casual Research

D. Ethnographic Research

E. Exploratory Research

Exploratory Research

Which of the following exploratory market research techniques typically involves a​ product-oriented discussion among a small group of consumers led by a trained​ moderator?

A. Customer Insights

B. Neuromarketing

C. Ethnography

D. Case Study

E. Focus Group

Focus Group

The​ _____ is a research method with primary data that becomes a comprehensive examination of a particular firm or organization.

A. Observation

B. Case Study

C. Questionnaire

D. Ethnography

E. Focus Group

Case Study

​_____ research is research that probes systematically into the marketing problem and bases its conclusions on a large sample of participants.

A. Observational

B. Informative

C. Descriptive

D. Casual

E. Analytical

Descriptive

Which of the following refers to a descriptive technique involving the systematic collection of quantitative​ information?

A. Telemarketing

B. Experiments

C. Casual Research

D. Cross-Sectional Design

E. Longitudinal Design

Cross-Sectional Design

Which of the following is a type of descriptive research that involves tracking the responses of the same sample of respondents over​ time?

A. Casual Research

B. Longitudinal Design

C. Telemarketing

D. Experiments

E. Cross-Sectional Design

Longitudinal Design

Marketers use​ _____ research techniques when they want to know if a change in one thing is responsible for a change in something else. These factors are known as independent and dependent variables.

A. Formative

B. Casual

C. Descriptive

D. Cross-Sectional

E. Observational

Casual

Which of the following has negatively impacted consumers the MOST when it comes to businesses wanting to conduct marketing research over the​ phone?

A. Unobtrusive measure

B. Neuromarketing

C. Mail-Intercept

D. Focus Group

E. Telemarketing

Telemarketing

​_____ are text files that a website sponsor inserts into a​ user's hard drive when the user connects with the site.

A. Emogees

B. Emoticons

C. Viruses

D. Cakes

E. Cookies

Cookies

Which of the following is a marketing metric used to analyze Web​ traffic?

A. Cookies

B. Bounce Rate

C. Longitudinal Design

D. Sampling

E. Predictive Technology

Bounce Rate

Which of the following is a sample in which each member of the population has some known chance of being​ included?

A. Reliability

B. Probability Sample

C. Representativeness

D. Non probability Sample

E. Convenience Sample

Probability Sample

Which of the following is a sample composed of individuals who just happen to be available when and where the data are being​ collected?

A. Case Study

B. Nonprobability Sample

C. Convenience Sample

D. Representativeness

E. Probability

Convenience Sample

Which of the following is a sample in which personal judgment is used to select​ respondents?

A. Nonprobability Sample

B. Case Study

C. Convenience Sample

D. Representativeness

E. Probability Sample

Nonprobability Sample