Final Quiz – 100 QuestionsTop of FormOne of Wal-Marts adverti.docx

Final Quiz – 100 Questions
Top of Form
One of Wal-Mart's advertising campaigns featured a round
smiling yellow decimal point that looked like a happy face. This
ad concentrated on showing that the large retailer offered its
customers the lowest possible prices. Wal-Mart is pursuing a(n)
_____ strategy).
Question 1 options:
overall cost leadership
mass marketing
niche marketing
focus
Save
Question 2 (1 point)
The program formulation step in the business strategic planning
process immediately follows:
Question 2 options:
goal formulation
SWOT analysis
strategy formulation
assignment of resources
development of the business mission
Save

The business strategic planning process requires a feedback and
control step because:
Question 3 options:
the firm's strategic fit with its environment will change
clear strategies and solid supporting programs are worthless
without the support of top management
the firm's mission statement is too broad to be treated as a
corporate directive
internal stakeholders accept and expect evaluation
time horizons for strategies tend to be very short
Save
In 2002, the Hispanic community's buying power in the state of
Georgia grew to $4.7 billion as more Hispanics migrated to the
state. This is an example of how changes in the _____
environment impact the _____ environment.
Question 4 options:
social-cultural; natural
demographic; economic
economic; social-cultural
political-legal; economic

natural; political-legal
Save
The U.S. is experiencing increasing ethnic diversity:
Question 5 options:
but the population growth has kept the size of the immigrant
population at below three percent of the entire population
with a corresponding diversity of wants and buying habits
but a growing uniformity in buying habits
but with a declining representation of Latinos and Asians
with Asians soon to become the largest minority group
Save
Today, many people are opposed to blood transfusions due to
concerns about diseases that can be transmitted in blood plasma.
Yet, many people need transfusions to survive accidents and
surgeries. After expensive research and development, Biopure
Corporation has developed a product that is a safe and effective
substitute for blood plasma. Biopure's product is already being
used by veterinarians, but the U.S. government and the
European Community have not given the product their
approvals. This is an example of the _____ environment and the
_____ working at cross-purposes.
Question 6 options:
technological; increased regulation of technological change

economic; technological
economic; political-legal
technological; social-cultural
political-legal; economic
Save
Ideas for new products can come from:
Question 7 options:
customers and channel members
scientists and engineers
examining competitors
top management
all of the above
Save
A potential marketer of new shower enclosures coated with
Teflon asks consumers, "Do you understand how the addition of
Teflon will benefit you?" and "Would this type of shower
enclosure solve a cleaning problem for you?" This marketer is
in the _____ stage of new-product development.
Question 8 options:
concept development and testing

business analysis
product development
idea generation
market testing
Save
A new-product department is excited about a new product idea
for a suntan lotion that goes on blue, but fades away as the
ability of the lotion to protect skin disappears. Projected sales,
growth, and profit looked very promising. The idea has been
passed to R&D to determine if the product could be feasibly
made. At this point, the new-product department's idea is in the
_____ stage.
Question 9 options:
marketing-strategy development
market testing
product-development
concept development
business analysis
Save
Which kind of consumer-goods market testing involve
consumers who initially try the product at no cost then who are
reoffered the product, or a competitor's product, at a slightly

reduced price.
Question 10 options:
Sales-Wave Research
Simulated Test Marketing
Controlled Test Marketing
Test Markets
Alpha Testing
Save
Which of the following is the most expensive step of the new
product development process?
concept testing
business analysis
product development
commercialization
idea generation
Save
A zero-level channel:

may also be called a backward channel
is the same as a direct marketing channel
has only one intermediary between producer and consumer
has three members
refers to intensive distribution channels where there are an
indeterminate number of channel members
Save
A dog food that is only available at veterinarians' offices is an
example of a product that is sold using _____ distribution.
geographic
intensive
restrictive
exclusive
invasive
Save
A highly respected manufacturer of a sought after perfume has
retailers willing to carry the manufacturer's complete cosmetic
product line. This is an example of _____ power.

legitimate
reward
referent
coercive
expert
Save
Channels need to be reviewed for possible modification when:
consumer buying patterns change
new competition enters the market
the product changes stages in the product life cycle (PLC)
the distribution system is not working as planned
any of the above occur
Save
Albert and Tania produce and sell vanilla, chocolate, lemon,
peppermint, and strawberry flavor extracts for baking. They are
debating over a description of the potential customers for their
product. Albert and Tania are trying to define:
customer value

customer satisfaction
their target market
what constitutes an exchange
relationship marketing
Save
If a marketer seeks to retain customers' long-term preference
and business through a win-win business style, the marketer is
engaged in _____ marketing.
relationship
transaction
transfer
reciprocal
give-and-take
Save
Texas Instruments, one of the first producers of handheld
calculators, put a great deal of effort into expanding production
of calculators to drive down the cost and thus, expand the
market. This is most indicative of the _____ concept.

production
product
customer
marketing
societal
Save
The marketing concept assumes:
consumers will favor products that offer quality, performance,
and innovation
a company has a social responsibility for the effects of its
products
if left alone, consumers will ordinarily not buy enough of the
organization's products
consumers do not have to be compelled by promotions to buy
what a company is selling
the key to achieving organizational goals is the company being
more effective than the competition at creating, delivering, and
communicating to its target market
Save
Which of the following is NOT an example of a primary activity

as described in Porter's value chain?
procurement
marketing and sales
operations
outbound logistics
service
Save
An intensive growth strategy of _________ would be when a
firm develops or acquires new products for the current markets.
market-development
market-penetration
integrative growth
product-development
diversification
Save
One view of holistic marketing is that firms take a traditional
view of the value-delivery process in which product design is
primary and that marketing takes place only after the product is

produced.
True
False
Save
Which of the following is NOT one of the Marketing
Management Tasks associated with a holistic marketing firm?
Creating Value
Delivering Value
Communicating Value
Value Mining
Connecting with Customers
Save
At regular intervals, eBay.com, the largest Internet auction
company, conducts intense all-day meetings with representative
buyers and sellers. At these meetings, they discuss various
aspects of the services eBay provides and what eBay could do to
enhance those services. These meetings are part of eBay's _____
system.
sales reporting

marketing research
experiential research data
accountability information system (AIS)
marketing intelligence
Save
The first step in the marketing research process is the:
development of the research plan
survey of stakeholders to determine if problems exist
decision regarding the research tools and target group
collection of the available sources for needed information
definition of the problem and research objectives
Save
The manufacturer of Brother sewing machines wants to know
the effect rebates have on sales. It plans on dividing its retailers
into three regions. One group will offer consumers who buy a
Brother sewing machine a $25 cash rebate. One will offer
buyers of the machine $50 worth of "free" machine accessory
parts. A third region will offer buyers a $40 store credit. The
results of this market research will provide Brother with _____
data.

observational
survey
secondary
experimental
descriptive
Save
Respondents are asked to rate an attitude object on a number of
multiple-point rating scales bounded at each end by one of two
bipolar adjectives or phrases. This type of question is called:
dichotomous
a semantic differential
multiple choice
rating scale
a Likert scale
Save
The manufacturer of the line of Grote industrial meat slicers
wants to identify all of the supermarkets, delis, and restaurants
that are potential customers for its products in each of its

market areas. Then, it wants to estimate which model each will
need to buy. What method of assessing market potential will the
manufacturer need to use?
the multiple-factor index method
the market-buildup method
the total market potential formula
the market-demand breakdown
a multi-regression analysis
Save
______________ is a large social, economic, political, and
technological changes that are slow to form and, once in place,
influence us for some time.
trends
fads
megatrends
fashions
styles
Save

Which of the following is the most influential primary reference
group?
family
social class
friends
coworkers
celebrities
Save
Which of the following is NOT an example of a personal factor
that affects consumer behavior?
family
age and stage in the life cycle
economic circumstances
lifestyle
self-concept
Save
The first step in the buying process is the:

information search
evaluation of alternatives
purchase decision
location of alternatives
recognition of the need or problem
Save
The basis for segmentation that recognizes that not everyone
who buys the product has the same needs or wants the same
benefits from it.
Psychographic segmentation
Demographic segmentation
Needs-Based segmentation
market concentration
Geographic segmentation
Save
A(n) _____ market is characterized by a fairly narrowly defined
market with a complete and distinct set of needs, and a
willingness to pay a premium to meet those needs.

local
niche
individual
derived
homogeneous
Save
Which of the following is an example of a demographic
segmentation variable?
social class
personality
attitude toward the product
lifestyle
user status
Save
Which of the following is an example of a psychographic
occupation

education level
readiness stage
lifestyle
usage rate
Save
Which of the following is an example of a behavioral
generation
user status
personality
religion
social class
Save
A marketer who selected a _________ segmentation strategy
would find
this segmentation strategy has the greatest amount of risk
associated
with it despite firms typically having a strong knowledge of the
segment's needs and operating economies.

selective specialization
single-segment concentration
full market coverage
market specialization
product specialization
Save
Which of the following statements is true about positioning
strategies?
Not all products can be differentiated.
A product that is not positioned as superior, distinctive,
preemptive, or affordable will succeed if it is implemented
correctly.
The end result of positioning is the successful creation of a
customer-focused value proposition.
Positioning strategies must stress real benefits or they will fail.
All brand differentiation strategies are meaningful and
worthwhile.
Save
_____ is the act of designing the company's offerings and image

so they occupy a meaningful and distinct competitive position
in the target customers' minds.
Product differentiation
Positioning
Image differentiation
Maximarketing
Integrated marketing
Save
Profits improve substantially during the _____ stage of the
product life.
introduction
repositioning
growth
maturity
decline
Save
The stage of the life cycle characterized by low sales, heavy
promotion, low profit, and minimal competition is the _____

stage.
introduction
growth
repositioning
maturity
decline
Save
The first thing any business should do when setting pricing
policy is to:
determine demand
estimate costs
determine their target market
select a pricing method
select a pricing objective
Save
When Gillette introduced the MACH 3 shaving system, Gillette
charged 35 percent more than was currently being charged by its
nearest competitor to communicate a quality image for the

product. Because Gillette had patents that prevented
competitors from quickly imitating the shaving system, a high
initial price was placed on the product. Gillette used a _____
pricing strategy.
cost-oriented
market-skimming
value-oriented
market-penetration
product-quality leadership
Save
When Rooms-to-Go furniture store offers customers "Nothing
down, and no payments until 2008!" in order to entice
customers to buy now, the furniture chain is using:
cash discounts
promotional pricing
trade allowances
functional discounts
loss-leader pricing
Save

A _____ combines successive stages of production and
distribution under single ownership.
horizontal marketing system
conventional marketing system
corporate vertical marketing system
multichannel marketing system
contractual vertical marketing system
Save
Zoe was reading the newspaper while she watched television.
An article in the newspaper on the new women's football league
caused Zoe to miss commercials for Mountain Dew, Claritin,
and KFC. In terms of the communication process for the ads,
the article that caught Zoe's attention is an example of:
a feedback inhibitor
an unanticipated decoder
encoding
noise
a reception barricade
Save

The first step in the development of effective communication is:
identifying the target audience
determining the communication objectives
designing the message
setting the budget
selecting the communication channels
Save
The ________ is practiced most aggressively with unsought
goods, goods that buyers normally do not think of buying, such
as insurance, encyclopedias, and funeral plots.
marketing concept
production concept
holistic marketing concept
selling concept
product concept
Save

In ____consumers may share a strong need that cannot be
satisfied by an existing product.
declining demand
negative demand
non-existent demand
irregular demand
latent demand
Save
The most formal definition of marketing is ________.
identifying and meeting human and social needs
meeting needs profitably
the 4Ps (Product, Price, Place, Promotion)
improving the quality of life for consumers
the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have
value for customers, clients, partners, and society at large
Save
________ marketing has the aim of building mutually satisfying

long-term relations with key parties such as customers,
suppliers, distributors, and other marketing partners in order to
earn and retain their business.
Direct
Relationship
Synthetic
Holistic
Demand-based
Save
______ is the ability of a company to meet each customer's
requirements - to prepare on a mass basis individually designed
products, services, programs, and communications.
macromarkets
single-segment concentration
mass customization
customer cliques
market targets
Save

A good way to describe the ________ would be discuss all the
activities involved in building deeper understanding,
relationships, and offerings to individual customers.
customer relationship management process
customer equity process
customer fulfillment management process
customer acquisition process
customer prospecting process
Save
Most word of mouth is generated online.
False
True
Save
The ________ is a tool for identifying ways to create more
customer value.
promotion channel
supplier database

value chain
customer survey
brand loyalty index
Save
________ consists of people, equipment, and procedures to
gather, sort, analyze, evaluate, and distribute needed, timely,
and accurate information to marketing decision makers.
A marketing research system
A marketing database
A marketing information system
A promotional campaign
A marketing intelligence system
Save
Marketing managers rely on internal reports. By analyzing this
information, they can spot ________.
macro-markets
consumer demographic units
opportunities and problems

micro-markets
competitive strategies
Save
The heart of the internal records system is the ________.
service consideration
asset acquisition process
database
order-to-payment cycle
information liquidity ratio
Save
A ________ is a set of procedures and sources managers use to
obtain everyday information about developments in the
marketing environment.
vertical system
marketing intelligence system
marketing information system
product management system

marketing research system
Save
________ is the systematic design, collection, analysis, and
reporting of data and findings relevant to a specific marketing
situation facing the company.
Demographics
Marketing management
Marketing research
MIS (marketing information system)
Marketing intelligence
Save
Which of the following types of marketing research firms would
best be described as being one that gathers consumer and trade
information which they sell for a fee (e.g., Nielsen Media
Research)?
Specialty-line marketing research firms.
Non-profit marketing research firms.
General-line marketing research firms.

Syndicated-service research firms.
Custom marketing research firms.
Save
The first step in the marketing research process is to ________.
analyze the internal environment
contact a professional consultant
define the problem and research objectives
develop a research plan
read marketing research journals
Save
________ are data that were collected for another purpose and
already exist somewhere.
Tertiary data
Primary data
Secondary data
Inordinate
Ordinate

Save
The aim of customer relationship management (CRM) is to
maximize customer ________.
profitability
satisfaction
equity
value
loyalty
Save
In which stage of the Product Life Cycle is there a slowdown in
sales growth and profits stabilize or decline due to increased
competition?
Introduction
mass customization
Growth
Maturity
Decline
Save

A customer touch point in the airline industry would include an
item such as ________.
ease of access to the airport
mechanics ability to service the airplanes
the value of air travel versus surface transportation
competency of a travel agent
reservations
Save
Another term for high customer ________ is customer churn.
defection
value
perception
belief
retention
Save

A(n) ________ is a descriptive thought that a person holds
about something.
belief
emotion
attitude
feeling
desire
Save
The expectancy-value model of attitude formation posits that
consumers evaluate products and services by combining their
________.
consuming attitudes
needs
wants
brand beliefs
desires
Save
Customer value analysis reveals the company's strengths and

weaknesses relative to various competitors. Which of the
following would be considered to be the first step in this
process?
Examine customer ratings of the company and competitors.
Monitor customer values over time.
Identify the major attributes customers value.
Assess the company and competitors' performances on customer
values.
Assess the quantitative importance of the different attributes.
Save
With respect to consumer purchase intention, all of the
following would be among the sub-decisions made by
consumers EXCEPT ________.
payment method
emotional value
dealer
timing
brand
Save

A ________ consists of a group of customers who share a
similar set of needs and wants.
market level
market slice
market segment
market group
market target
Save
Which is NOT a criteria that could determine whether a brand
association could truly function as a point-of-difference?
All are criteria that would apply.
Desirable to consumer
Differentiating from competitors
Straddle frame of reference
Deliverable by the company
Save
Marketers usually identify niches by ________.

allowing consumers to gravitate toward product brands
dividing a segment into subsegments
conducting VALS tests
examining the demographics section of The Handbook of
Marketing
producing products that can be used in a variety of ways
Save
When Nike attempts to get close to its customers at the local
level by sponsoring local school teams and providing shoes,
equipment, and clothing to many of them, Nike is using which
of the following marketing formats?
Consumer marketing
Partner marketing
Grassroots marketing
Instructional marketing
Differentiated marketing
Save
From a marketing management perspective, there are three main

sets of brand equity drivers. Which of these drivers was most
applicable when McDonald's decided to use the "golden arches"
and Ronald McDonald as symbols of their brand?
The product and all accompanying marketing activities and
supporting marketing programs.
The profitability associated with brand development.
Associations indirectly transferred to the brand by linking it to
some other entity.
The initial choices for the brand elements or identities making
up the brand.
The service and all accompanying marketing activities and
supporting marketing programs.
Save
________ are those trademarkable devices that serve to identify
and differentiate the brand.
Brand tracks
Brand perception
Brand image
Brand value
Brand elements
Save

If a brand element can be used to introduce new products in the
same or different categories, the brand element is said to be
________.
likeable
transferable
memorable
meaningful
adaptable
Save
With respect to powerful brand elements, a ________ is an
extremely efficient means to build brand equity. The element
can function as useful "hooks" or "handles" to help consumers
grasp what the brand is and what makes it special.
patent
promotional descriptor
product shape
slogan
spokesperson

Save
All marketing strategy is built on STPsegmentation, targeting,
and ________.
promotion
performance
product
positioning
planning
Save
The result of positioning is the successful creation of ________,
a cogent reason why the target market should buy the product.
strategic window of opportunity
a customer-focused value proposition
an award winning promotional campaign
every-day-low-pricing
a demand channel
Save

Which of the following is NOT one of the ways to convey a
brand's category membership?
announcing category benefits
relying on the product descriptor
Points-of-difference
comparing to exemplars
None of the above address the main ways to convey a brand's
category membership
Save
Associations that make up points-of-difference may be based on
_____________.
brand categories
brand attributes or benefits
brand specifications
brand partitions
brand values
Save

A company's costs take two forms. ________ are costs that do
not vary with production or sales revenue.
Fixed
none of these
Attributed
Variable
Adjusted
Save
Today's companies try to adapt their offers and terms to
different buyers. ________ accounting tries to identify the real
costs associated with serving each customer. It allocates
indirect costs to the activities that use them and are tagged back
to each customer.
Activity-based cost
Experience cost
Target costing
Direct product profitability
Cost accounting
Save

Value pricing is not a matter of simply setting lower prices; it is
a matter of reengineering the company's operations to become a
low-cost producer without sacrificing quality; and lowering
prices significantly to attract a large number of ________
customers.
price-orientated
product-orientated customers
none of these
value-conscious
expert customers
Save
When a firm charges the same, more, or less than its major
competitors do, it is using a pricing strategy that is called
________.
going-rate pricing
perceived value pricing
high-low pricing
value pricing
everyday low pricing

Save
Intermediaries who buy, take title to, and resell the merchandise
are called ________.
marketers
merchants
retailers
facilitators
agents
Save
Transportation companies, independent warehouses, banks, and
advertising agencies assisting in the distribution process but
neither take title to goods nor negotiate purchases or sales are
called ________.
facilitators
agents
none of the store
merchants
marketers

Save
A ________ strategy involves the manufacturer using its sales
force and trade promotion money to induce intermediaries to
carry, promote, and sell the product to end users.
none of these
pull
promote
provide
push
Save
Generally speaking, the use of peripheral cues, such as a
celebrity endorser, would best attract what kind of shopper?
High value deal seekers
Low-involvement shoppers
High-involvement shoppers
Variety-loving shoppers
Habitual shoppers
Save

Communication tools vary in cost-effectiveness at different
stages of buyer readiness. ________ and publicity play the most
important role in the awareness-building stage.
"buzz"
direct marketing
publicity
sales promotion
advertising
Save
The appeal of public relations and publicity is based on three
distinctive qualities. These include, ________, the ability to
catch buyers off guard, and dramatization.
high credibility
low cost
exposure
"free"
invitation
Save

Many companies set promotion expenditures at a specified
percentage of sales (either current or anticipated) or of the sales
price. This method of budgeting is called ________.
percentage-of-sales method
none of these
objective-and-task method
competitive parity method
affordable method
Save
Any discussion about the effectiveness of mass communication
has to take into account the dramatic changes that have
________ the effectiveness of the mass media.
all of these
expanded
increased
eroded
supplemented
Save

What kind of creative strategy would attempt to stir up
emotions to motivate purchase?
transformational appeals
objective and task appeals
reverse engineering
none of these
informational appeals
Save
What aspect of designing the communication would be focused
on deciding what celebrity to use in advertising?
creative strategy
Choice of personal communication channels
message source
communication objectives
none of these
Save

The new-product development process starts with the search for
________.
new concepts
ideas
products that can be improved upon
strategy
overseas products
Save
A ________ occurs when the company dismisses an otherwise
good idea.
GO-error
DROP-error
product failure
brand failure
dual error
Save
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Final Quiz – 100 QuestionsTop of FormOne of Wal-Marts adverti.docx

Final Quiz – 100 QuestionsTop of FormOne of Wal-Marts adverti.docx

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Final Quiz – 100 QuestionsTop of FormOne of Wal-Marts adverti.docx