Term
Marketing is defined as producing, promoting, & selling products.
A) True
B) False |
|
Definition
|
|
Term
Which marketing mgmt philosophy is often adopted by organizations that sell unsought products such as life insurance, retirement plans, and preplanned funeral services?
A) Sales Orientation
B) Production Orientation
C) Marketing Orientation
D) Product Orientation
E) Customer Orientation |
|
Definition
A) Sales Orientation
Exam 1 |
|
|
Term
SAP, the world's largest business software company, has pledged to put "the customer at the center" of their universe. SAP has captured the idea of:
A) The 80/20 Rule
B) Maslow's Hierarchy of Needs
C) The Marketing Concept
D) The Sales Orientation Philosophy
E) The Societal Concept |
|
Definition
C) The Marketing Concept
Exam 1 |
|
|
Term
An advantage that cannot be copied by the competition is called a(n) _____ competitive advantage.
A) Sustainable
B) Monopolistic
C) Primary
D) Unique
E) Dominant |
|
Definition
|
|
Term
If Facebook were a country, it would be ranked as the world's _____ largest country.
A) 1st
B) 2nd
C) 3rd
D) 4th
E) 5th |
|
Definition
|
|
Term
In the past 24 years, Mother's Work has grown from a small, mail-order catalog business headquartered inside the founder's home to become the world's largest seller of maternity apparel, with nearly 1,600 locations. In terms of the business market, Mother's Work would best be classified as a(n):
A) Reseller
B) Producer
C) Distribution Network
D) Inventory Carrier
E) Business Facilitator |
|
Definition
|
|
Term
Until the 1990s, few firms practiced market segmentation.
A) True
B) False |
|
Definition
|
|
Term
The requirement for a market segmentation to be responsive is:
A) Over half of the consumers in the identified segment will be actively interested in the product
B) All segments identified by the marketer SHOULD respond to the marketing mix
C) All segments identified by the marketer should NOT differ in their level of response
D) The segments identified by the marketer should NOT differ in their responsiveness to the marketing mix
E) The segments identified by the marketer SHOULD differ in how they respond to the marketing mix when compared to another segment confronted with the same mix |
|
Definition
E) The segments identified by the marketer SHOULD differ in how they respond to the marketing mix when compared to another segment confronted with the same mix
Exam 1 |
|
|
Term
Volkswagen developed an 18-month-long project to gain a better understanding of American culture so it could develop cars more appealing to the American market. The research project was called "Moonraker". "Moonraker" was intended to play a(n) _____ role in Volkswagen's marketing research.
A) Diagnostic
B) Descriptive
C) Predictive
D) Heuristic
E) Demonstrative |
|
Definition
|
|
Term
After listening to a group of middle-aged women discuss their biggest concerns about the jeans they wore, a company designed a new line of comfortable women's jeans and touted them as "not your daughter's jeans." This is an example of research conducted to:
A) Improve the quality of company decision making
B) Find out why a marketing plan failed
C) Learn how to more effectively retain customers
D) Understand the ever changing marketplace
E) Conduct business analysis |
|
Definition
A) Improve the quality of company decision making
Exam 1 |
|
|
Term
All of the following are examples of products EXCEPT:
A) a Carton of Milk
B) Contact Lenses
C) a Haircut
D) a Pair of Shoes
E) All of the above are products |
|
Definition
E) All the above are products (yes a haircut is a product)
Exam 2 |
|
|
Term
There are many cell phones on the market, and they vary so much on price, quality, and features that consumers often have trouble comparing them. A cell phone would probably be considered a _____.
A) Convenience Product
B) Specialty Product
C) Heterogeneous Shopping Good
D) Homogeneous Shopping Good
E) Generic Product |
|
Definition
C) Heterogeneous Product (different at different places)
Exam 2 |
|
|
Term
Which of the following is an example of a product item?
A) Tarter Protection Crest Toothpaste
B) Campbell's Soup
C) Chevrolet Automobiles
D) Ore-Ida Frozen Foods
E) All the above are product items |
|
Definition
A) Tarter Protection Crest Toothpaste
Exam 2 |
|
|
Term
Firms increase the depth of their product lines for all the following reasons EXCEPT:
A) To attract buyers with different preferences
B) To diversify risks
C) To further segment the market
D) To capitalize on the economies of scale
E) To even out seasonal sales patterns |
|
Definition
B) To diversify risks
Exam 2 |
|
|
Term
The development of Coke Zero by Coca-Cola would not be considered a new product since the company was already making soft drinks. It would simply be called a line extension.
A) True
B) False |
|
Definition
|
|
Term
The 1st filter in the product development process is called screening.
A) True
B) False |
|
Definition
|
|
Term
The 1st stage of the new product development process is:
A) Screening & Concept Testing
B) Establishing a New-Product Strategy
C) Exploring Opportunities
D) Developing a Business Analysis
E) Building a Prototype |
|
Definition
B) Establishing a New-Product Strategy
Exam 2 |
|
|
Term
Services are considered inseparable because most services cannot be felt or touched in the same way most goods can be sensed.
A) True
B) False |
|
Definition
|
|
Term
Companies operating under a demand-supply integration philosophy are better at their business because all of the different divisions within the company:
A) Work to minimize complexity
B) Have their own mgmt systems
C) Compete with each other to earn revenue
D) Play from the same sheet of music
E) Operate under a strict hierarchy |
|
Definition
D) Play from the same sheet of music
Exam 2 |
|
|
Term
Fairway is a chain or retail outlets in IA, MN, NE, & IL that are described as large, departmentalized, self-service stores that specialize in food and limited non-food items. Fairway stores are:
A) Off-Price Retailers
B) Discount Stores
C) Wholesalers
D) Convenience Stores
E) Supermarkets |
|
Definition
|
|
