mar 100 review for midterm - spring 2014

8/11/2019 Mar 100 Review for Midterm - Spring 2014

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MAR 100 Spring 2014 - review for midterm

Multiple Choice

Identify the choice that best completes the statement or answers the question.

____ 1. For an exchange to take place:a. there must be at least two parties involvedb. money must be used in the transactionc. each party must feel obligated to accept the offerd. at least one party must have something of value that the other party desirese. neither party must communicate with the other

____ 2. A newspaper ad for a hospital that states !"e have the most modern delivery rooms and state#of#the artmedical e$uipment% is an indication of which marketing management philosophy&a. 'alesb. (ustomerc. )arket

d. 'ocietale. *roduction

____ +. "hich marketing management philosophy assumes that a sale does not depend on an aggressive sales forcebut rather on a customer,s decision to purchase a product&a. 'alesb. *roductionc. *roductd. )arkete. -xchange

____ . )arket#oriented firms primarily focus their efforts upon:a. improving the technological skills and competitive advantages of the firm

b. satisfying the organi/ation,s needs for low overheadc. achieving the company,s societal responsibilities inexpensivelyd. distributing goods and servicese. satisfying the wants and needs of their customers

____ 0. ellogg,s gives consumers the chance to receive a free 3. (onsumers who buy five boxes of speciallymarked cereal can cut out the coupons and mail in their completed official form to get a free 3. ellogg,sis engaging in:a. transactional marketingb. sports distributionc. relationship marketingd. one#to#one marketing

e. customer transformation

____ 4. A market#oriented firm defines its business in terms of:a. goods and servicesb. the benefits its customers seekc. employee empowermentd. competitive positione. customer satisfaction


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d. -thical values are situation specific and time oriented.e. All of the statements describe ethics.

____ 1. ?ne approach to developing a personal set of ethics is to:a. rely solely on one,s personal character to determine what action to takeb. stress the importance of rules

c. ignore problems associated with the magnitude of conse$uencesd. avoid examining the conse$uences of particular actse. never trust your own behavioral instincts

____ 10. =he four components of the pyramid of corporate social responsibility are:a. sustainability creativity profit and cultureb. organi/ational culture creativity imagery economic performance and ob>ectivityc. organi/ational financial social and cultural responsibilitiesd. sustainability legality creativity and competitione. economic legal ethical and philanthropic responsibilities

____ 14. At what level of the pyramid of corporate social responsibility will firms do what is right >ust and fair&a. -conomic

b. *hilanthropicc. @egald. -thicale. )oral

____ 15. =he external environment:a. can be controlled in much the same manner as the internal marketing mixb. cannot be influenced by marketing managersc. does not change over timed. does not have an impact onFortune 0


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e. Athletic apparel

____ 21. "hich of the following statements about American teenagers is correct&a. =hey spend about < hours per week tuned in electronically.b. About 20 percent go to the mall at least once a week.c. )ore than 0< percent have a personal online blog.

d. =hey prefer online friends to !real% friends.e. =hey would rather shop in a store than online.

____ 22. (onsider a small southern town where more than half the residents are African American and the rest arewhite. A successful marketing campaign for this community would include:a. internet advertising.b. radio advertising.c. billboards.d. newspaper advertising.e. none of these.

____ 2+. "hich ethnic group prefers products from their native country&a. Bispanic Americans

b. African Americansc. Asian Americansd. 'outh Americanse. (uban Americans

____ 2. Dndividuals and organi/ations utili/ing a global vision to effectively market goods and services across theworld are engaged in:a. international selling schemesb. borderless commercec. global marketing standardi/ationd. global logisticse. global marketing

____ 20. asketball is played nearly everywhere in the world and is an easily understood sport. =he Eationalasketball Association EAG finals reached more than 4obs as production shifts abroad.d. has brought entire nations out of poverty.


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e. has increased per capita income for some countries.

____ 27. Ilobali/ation:a. relies on strong government regulations to keep down pricesb. promotes economic freedom and increases living standardsc. tends to dry up the flow of foreign capital in less developed countries

d. has made it easier for governments to abuse the freedom and property of their citi/ense. has kept wages low in developing countries around the world

____ 28. "hen multinational firms enable individual subsidiaries to compete independently in domestic nations theyare engaged in:

a. global marketing standardi/ation.b. multidomestic strategy.c. product extension.d. technological receptivity.e. marketing hegemony.

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b. -xport brokerc. @icense agentd. Dmport agente. -xport agent

____ +0. 'ony *anasonic and other Hapanese manufacturers that build products to customer order instead of churning

out products in anticipation of demand have decided to hire 6.'. companies to produce electronics for them.=he Hapanese companies will handle the marketing of the products. Hapanese electronics companies are using:a. contract manufacturing.b. direct investment.c. franchising.d. direct exporting.e. countertrading.

____ +4. (urrency markets operate under a system in which the prices of different currencies move up or down basedon the demand for and supply of each currency. =his practice is called:a. (ountertrading.b. floating exchange rates.c. variable purchasing power.d. flexible monetary policies.e. purchasing power elasticity.

____ +5. =he processes consumers use when making purchase decisions are called:a. consumer behavior.b. marketing.c. consumerism.d. perceptual mapping.e. database mining.

____ +7. @isa has to have a iet (oke for breakfast. At a breakfast meeting she was offered coffee and refused. 'heonly wanted a iet (oke. =his illustrates that @isa needs iet (oke to:

a. satisfy a wantb. satisfy a needc. satisfy a beliefd. satisfy a physiological drivee. satisfy a momentary stimulus

____ +8. =he steps of the consumer decision#making process in order are:a. need recognition alternative aggregation reevaluation purchase decision postpurchase

behaviorb. need positioning stimulus response reactions evaluation of alternatives purchase

decision postpurchase behaviorc. need positioning alternative aggregation and divestment purchase decision postpurchase

evaluationd. information search need positioning evaluation of alternatives product trial purchasedecision postpurchase satisfaction

e. need recognition information search evaluation of alternatives purchase andpostpurchase behavior

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b. primary setc. inert setd. complete sete. >ustifiable set

____ 1. -xtending a well#known and respected brand name from one product category to another product category is

referred to as:a. brand stretchingb. brand extensionsc. brand bouncingd. brand transfere. brand building

____ 2. )ai @in is checking out at the grocery store when she notices the candy display right next to the cash register.!D haven,t had a )ounds bar in years% she thinks. !=hat looks goodJ D think D,ll grab one.% 'o she hands thecandy to cashier and says !D,ll take this too.% )ai @in has >ust made anG:

a. partially planned purchaseb. unplanned purchase

c. unwise purchased. fully planned purchasee. frivolous purchase

____ +. "hich of the following items is )?'= likely to be a fully planned purchase&

a. a pair of >eansb. a bottle of soda popc. a motorcycled. a flashlighte. All of the above.

____ . "hich of the following activities is most likely to be an example of routine response behavior&a. =he purchase of a three#week vacation cruiseb. A homeowner,s purchase of a new grill for K4


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____ 5. A value or attitude deemed acceptable by a group is called anG:a. expectationb. referencec. aspirationd. opinione. norm

____ 7. ecause her mother only went to the supermarket once a month this is how )oni$ue prefers to do hergrocery shopping. ?ne of the reasons )oni$ue is such an efficient shopper is that like her mother )oni$uebelieves !"aste not want not.% =he passing down of norms and values to )oni$ue is an example of:a. consumerism.b. the sociali/ation process.c. acculturation.d. the roles opinion leaders play in business decision making.e. the role of society in consumer decision making.

____ 8. "hen consumers change or distort information that conflicts with their feelings or beliefs it is called:a. selective distortionb. selective dissonancec. intermittent reinforcementd. selective retentione. selective exposure

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d. discrimination.e. transference.

____ 0. usinesses that buy finished goods and sell them for a profit are called:a. inventory carriers.b. producers.

c. distribution networks.d. resellers.e. business facilitators.

____ 00. "hat would a 6.'. company that manufactures the lighted signs used in amusement parks at outdoor sportsarenas for restaurant promotion and by state departments of transportation on the sides of roads use tofacilitate its market segmentation and targeting if it wanted data that were readily available and usable&a. A large amount of marketing research including scanner data and focus groupsb. ?ther competing firms as a strategic alliance referral servicec. Iovernment bidding processesd. =he Eorth American Dndustry (lassification 'ysteme. erived demand

____ 04. EAD(' data are helpful for analy/ing segmenting and targeting markets. =he system was developed by:a. large manufacturers in 6nited 'tates and )exico that produce similar goods.b. the Eorth American Free =rade Agreement partners.c. ra/il (hile Argentina (anada and the 6nited 'tates working together in a >oint

venture.d. the 'D( committee.e. the 6.'. government.

____ 05. 'alt is an important ingredient in many soups produced by (ampbell,s. Df the price of salt rises (ampbell,swill not likely reduce the amount of salt it purchases from salt suppliers because salt is such a crucialingredient. =herefore you know the demand for salt is:a. resistant.

b. inelastic.c. derived.d. elastic.e. bundled.

____ 07. -lectric cars will increase the demand for electricity which will then dramatically increase demand for thee$uipment needed to provide consumers with the electricity. =his dramatic increase is due to the:a. demand fluctuator principle.b. >oint demand principle or division effect.c. inelastic demand effect.d. circumlocution effect.e. accelerator principle.

____ 08. "hich of the following is the -'= example of accessory e$uipment&a. A parking lotb. A store display rackc. Accounting servicesd. A river bargee. @ight bulbs

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a. raw materials.b. ?-) products.c. processed materials.d. component parts.e. replacement parts.

____ 41. ?ne way processed materials differ from component parts is that processed materials:

a. do not retain their identity in final products.b. are always much cheaper than component parts.c. have had some processing.d. do not become part of a final product.e. All of the above are true.

____ 42. usiness services:a. are capital items.b. are never outsourced.c. are not used in reciprocity arrangements.d. typically become part of the finished product.

e. are expense items.

____ 4+. Dn terms of how business buyers evaluate products and suppliers the most important criterion is:a. price.b. behavior.c. $uality.d. personal relationships.e. reciprocity.

____ 4. usiness buyers use a variety of criteria to evaluate alternative products and suppliers. =he three mostimportant criteria in order of importance are:a. price sales support and service.

b. $uality service and price.c. reputation price and capability.d. price delivery time and product reliability.e. service $uality and reputation.

____ 40. A new buy situation refers to the:a. setting of new standards for current vendors.b. establishment of a new buying center.c. resolution of new conflict between buyer and seller.d. search for replacement vendors for standard currently used parts.e. purchase of a product or service when a new demand arises.

____ 44. A routine purchasing situation in which the purchaser is not looking for new information or other suppliers is

called a:a. modified rebuy.b. value buy.c. synergistic buy.d. straight rebuy.e. make#or#buy.

____ 45. A professor sent the following memo to his department chair for his authori/ation:


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Ilen: D need to purchase a camera )ac computer and microphone for the selling center lab L2 >ust like wedid for lab L1. =his buying situation should be described as a:a. make#or#buy.b. value buy.c. new buy.d. modified rebuy.

e. straight rebuy.

____ 47. =o be useful a segmentation scheme must produce segments that meet four basic criteria. =he criteria are:a. segmentability targetability reliability and validity and homogeneityb. tangibility inseparability nonperishability and uni$uenessc. substantiality identifiability and measurability accessibility and responsivenessd. reliability flexibility tangibility and unbiasede. complexity compatability relative advantage trialability and observability

____ 48. =he re$uirement for a market segment to be responsive means:a. over half of the consumers in the identified segment will be actively interested in the

productb. all the segments identified by a marketer should respond to the marketing mixc. all the segments identified by a marketer should not respond to the marketing mixd. the segments identified by a marketer should not differ in the level of their responsiveness

to the marketing mixe. the segment identified by a marketer should differ in how it responds to the marketing mix

when compared to another segment confronted with the same mix

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a. !A bird in the hand is worth two in the bush.%b. !-very action has an opposite and e$ual reaction.%c. !A rifle is more exact than a shotgun.%d. !on,t put all of your eggs in one basket.%e. !irds of a feather flock together.%

____ 5+. "hen Benry Ford made the )odel = he said that consumers !can have their car in any color they want aslong as it,s black.% =his was a case of:a. ;epositioning.b. ;eengineering.c. one#to#one marketing.d. undifferentiated targeting.e. niche marketing.

____ 5. (lorox saw sales of its bleach products suffer when it introduced laundry detergents with bleach as an addedingredient. =his is an example of:a. demarketingb. cannibali/ationc. undifferentiationd. repositioninge. perceptual confusion

____ 50. =he place a product brand or group of products occupies in consumers, minds relative to competingofferings is referred to as a product,s:a. statusb. e$uityc. framed. rolee. position

____ 54. *roducts such as bleaches aspirin unleaded regular gasoline and some soaps are distinguished by differences

such as brand names packaging color smell or !secret% additives. "ith these products marketers attempt toconvince customers that their product is significantly different from the others and should therefore bedemanded over competing brands. =hese marketers are using:a. cannibali/ationb. perceptual mappingc. psychographic targetingd. integrated marketinge. product differentiation

____ 55. Ad campaigns for Aleve pain reliever emphasi/e the fact that to get the same relief offered by one Aleve youwould need to take six aspirin or =ylenol and four Advil. =hese promotions are using the positioning base of:a. product class

b. competitorc. product userd. product meritse. price and $uality

____ 57. *hillip )orris 6'A the manufacturer of the )arlboro 6ltra 'mooth cigarette targeted to people who want tosmoke a potentially safer cigarette has asked for marketing research to explain the reasons for the recentfailure of the new cigarette. =his type of research is described as:a. descriptive


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b. predictivec. diagnosticd. normativee. historical

____ 58. =rade groups commercial publications and government departments can be used as sources of:

a. secondary datab. consensual informationc. primary datad. artificial intelligencee. marketing audits

____ 7ectives.b. capturing relevant customer data on interactions.c. identifying customer relationships with the organi/ation.d. understanding the interactions the company has with current customers.e. deciding on a segmentation strategy.

____ 7+. An intelligence system that helps managers assess their competition and vendors in order to become moreefficient and effective competitors is called:a. competitive research.b. competitive intelligence.

c. industrial espionage.d. an audit.e. differential competitive advantage.

____ 7. (ompared to the other classifications of consumer products shopping products are:a. widely available so they need little or no promotion.b. usually less expensive than convenience products.c. purchased without significant planning.d. usually more expensive than convenience products and are found in fewer stores.


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e. purchased immediately after the consumer reali/es he or she needs them.

____ 70. "hich of the following is the best example of a convenience product&a. (oncert ticketsb. (hewing gumc. Heans

d. (hemical for the swimming poole. A birthday present

____ 74. "hich of the following is the best example of a shopping product for most consumers&a. "ashing detergentb. (rackersc. A soft drinkd. A digital camerae. A maga/ine

____ 75. "hen Bonda automobiles first entered the 6.'. market they were small and not very durable. Bowever overthe years Bonda has modified its automobiles to be one of the most dependable cars on the market. =hischange in dependability and durability is representative of which type of product modification&

a. 'tyleb. *lanned obsolescencec. Functionald. Nuality extensione. Nuality

____ 77. Apple recently updated its i*od =ouch product expanding its storage from 7 I to 14 I. -nlarging the i*od=ouch,s storage capacity is an example of a:a. product modification.b. brand mix extension.c. product diversification.d. brand repositioning.

e. demographic modification.

____ 78. A style modification is anG:a. change in the product,s durability or dependabilityb. safety improvementc. aesthetic product changed. way to add conveniencee. improvement in product versatility and effectiveness

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e. Ilobal brand

____ 82. rand loyalty can:a. increase product diffusionb. encourage competitionc. shorten the amount of time a product spends in the maturity stage

d. help ensure repeat salese. sell a bad product

____ 8+. leenex is a well#known brand name of facial tissue. *eople often refer to leenex as if it were the productname. =he company that makes leenex may someday find its brand name becoming anG:a. e$uity brandb. certified namec. trademarkd. faux brande. generic product name

____ 8. =he two types of package labeling in common usage today are:a. informational and persuasive.

b. promotional and nonpromotional.c. functional and persuasive.d. government mandated and seller controlled.e. motivational and re$uired.

____ 80. =hree aspects of packaging that are especially important in international marketing are labeling aestheticsand:a. price.b. length of distribution channel.c. counterfeiting potential.d. warranties.e. climate considerations.


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MAR 100 Fall 2013 - review for midterm

Anwer Section

M!"#$%"& C'($C&

1. AE': AFor exchange to occur there must be at least two parties each party has something that might be of value tothe other party each party is capable of communication and delivery each party is free to accept or re>ect theexchange offer and each party believes it is appropriate or desirable to deal with the other party.

?H: ustification for an organi/ation,s existence is the

satisfaction of customer wants and needs while meeting organi/ational ob>ectives.

?H:


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?H: ust and fair.

?H:


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?H:


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?H:


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=his is the definition of subculture.

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EAD(' is an industry classification system that replaced the standard industrial classification 'D(G system in1885 for the Eorth American Free =rade Agreement partners. =he partners include the 6nited 'tates (anadaand )exico.

?H: or e$uipment and is usedin the conducting of business. Accessory e$uipment also tends to be purchased by a widely dispersed market.@ight bulbs are supplies. Accounting services represent a business service.

?H:


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?ne of the roles of marketing research is to be diagnostic and to explain what happened.

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?H: 1

mar 100 review for midterm - spring 2014

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