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WorksheetsCollege Marketing Midterm Review
Total questions: 100
Worksheet time: 50mins
Comcast segments its cable TV packages by age, gender, or income. Which type of segmentation is this?
Demographic
Geographic
Psychographic
Product-related
Behavioristic
When evaluating market segments, why is assessing competitors important?
It is difficult to segment a market with multiple competitors.
No competitors make it hard to measure segment sales potential.
Sales estimates may make a segment look lucrative, but competitors may already have a large share.
Competitive analysis may cause confusion about key competitors.
Competition is not a major problem if a marketer is aware of it.
Gotham Home Decor sells custom-made products through designers and a less expensive line through stores like Nordstrom’s. Gotham Home Decor is most likely using a(n) ______ targeting strategy.
differentiated
undifferentiated
concentrated
homogeneous
heterogeneous
Which element of the marketing mix is used to increase awareness of a product or company?
information
product
price
distribution
promotion
Which document specifies the activities to implement and control marketing activities for eScooters Inc.?
profit plan
marketing program
strategic market program
strategic business plan
marketing plan
Business decisions made in creating a marketing mix
are made before a target market is identified.
are unchangeable once agreed upon by management.
are only as good as the organization's understanding of the target market's needs.
usually take place when a strategic window is open.
must always be consistent with the firm's opportunities.
Which psychographic variable includes characteristics related to activities, interests, and opinions?
motive
social class
personality
stage of family life cycle
lifestyle
Which method involves hiring professionals to make initial forecasts, averaging them, and then refining individual forecasts?
Expert forecasting survey
Customer forecasting survey
Sales force forecasting survey
Delphi technique
Professional judgment
Communicating with the marketing unit, motivating marketing personnel, and coordinating marketing activities are part of the ______ component of strategic planning.
Formulating marketing strategies
Assessing organizational resources
Marketing evaluation
Developing the marketing plan
Marketing implementation
Animal Crackers sells children's clothing at home parties for families with small children and middle- to upper-middle-class income. Animal Crackers is using ____ variables to segment its market.
demographic
psychographic
sociographic
behavioristic
geographic
When Smartsheet delayed its new app to make changes, its TV ads had to be revised. A change in the ____ variable caused changes in the ____ variable of the marketing mix.
distribution; promotion
distribution; product
product; price
product; promotion
promotion; price
Successful businesses should turn internal weaknesses into ____ and external threats into ____.
opportunities; core competencies
core competencies; strengths
opportunities; strengths
strengths; core competencies
strengths; opportunities
Indicate the answer choice that best completes the statement or answers the question. The marketing plan is
a plan for all aspects of an organization's strategy.
written the same for each SBU.
a written document detailing activities to implement and control marketing actions.
designed to specify marketing and other business activities.
updated only periodically.
Strategic planning requires ________ to assess opportunities or threats from competitors.
internet surveys
marketing analytics
international marketing
marketing research
consumer data
Analyzing demographic information, customer needs, preferences, and behaviors for product design, pricing, distribution, and promotion is part of which strategic planning process?
Assessing organizational resources and opportunities
Managing marketing implementation
Establishing mission and goals
Developing a written document known as the marketing plan
Developing marketing objectives and marketing strategies
HP shifted from “built-to-order” to “make-to-stock” manufacturing and started selling limited computer models through retailers like Best Buy. This required changes in production, inventory, and transportation. Which variable of the marketing mix is most affected by this decision?
Product variable
Pricing variable
Distribution variable
Promotion variable
Strategic variable
When selecting specific target markets, a firm should
revert to an undifferentiated approach if the market is deemed heterogeneous.
choose the segments most in line with the firm's objectives and long-term growth.
choose all segments that are determined to be profitable for the organization.
choose the minimum number of segments necessary to achieve company sales potential.
pick the segments with the best sales forecasts for the upcoming period of time.
A marketing manager is analyzing how political, legal, sociocultural, and economic forces affect the firm's operations. The manager is examining the ____ that influence(s) the firm's strategy.
operating situation
marketing environment
surroundings
economic conditions
trends
Which product is most likely to have its market segment based on age?
Nike shoes
Lipton Iced Tea
Bic pens
Legos
Carpet
Establishing long-term, mutually beneficial arrangements where both buyer and seller focus on value enhancement is called
marketing synthesis.
relationship marketing.
a marketing orientation.
the marketing concept.
strategic marketing.
The marketing mix is built around the
product.
company.
customer.
employee.
retail outlet.
Before marketers can create a marketing mix, they must
adopt a sales orientation.
determine customer lifetime value.
build relationships with stakeholders.
practice the marketing concept.
collect up-to-date information about customer needs.
The first step in strategic performance evaluation is
take corrective action.
reduce the difference between actual and desired standards.
evaluate actual performance.
compare actual performance and standards.
establish performance standards.
Which of the following is true about marketing research?
Marketing research is not related to a company’s SWOT analysis.
Marketing research helps create marketing mixes that meet customer needs.
Marketing research no longer uses personal interviews.
Marketing research is being replaced by marketing analytics.
Marketing research helps assess a company’s regulatory compliance.
You are writing an Environmental Analysis for your company’s marketing plan. From the following list of environmental factors, which ones should be included in the subsection on political and regulatory factors?
Foreign exchange rates; Trade policy; Population growth rates
Trade policy; Tax policy; Environmental regulations
Tax policy; Environmental regulations; Health and medical trends
Trade policy; Health and medical trends; Tax policy
Environmental regulations; Foreign exchange rates; Tax policy
Sony’s strong name recognition and customer demand for its TVs and game systems are elements of the firm’s
strengths.
opportunities.
weaknesses.
threats.
strategies.
If White Mountain Group saw all sugar customers as alike and offered only one marketing mix, it would use the ____ strategy.
directed
undifferentiated
segmented
differentiated
product-use
Howard Cooper asks a homebuilder how much fiberglass insulation he will use next year, then multiplies that by the number of builders. What approach is this to measure sales potential?
multivariable
use of product
breakdown
regression
buildup
Kia uses the J. D. Power & Associates Sales Satisfaction Survey to assess its product and service level. By doing this, Kia is
controlling marketing activities.
taking corrective action.
empowering its employees.
evaluating actual performance.
setting performance standards.
Secondary data cannot be obtained from
trade journals.
the government.
international sources.
surveys.
computerized literature retrieval databases.
_____ that are accepted or rejected become the main conclusions of a marketing research study.
Descriptions
Issues
Primary data
Samples
Hypotheses
Standards for judging the reliability of marketing research include the _____ developed by the American Marketing Association to promote ethical research.
questionnaire construction
single-source data
analytic software
sampling method
code of conduct
The marketing concept focuses on
achieving the goals of top executives.
creating maximum visibility for the firm.
maximizing sales to achieve organizational objectives.
maximizing market share to achieve organizational objectives.
satisfying customers’ needs to achieve organizational objectives.
Burke Marketing Research is concerned about using surveys because
fewer people are willing to participate.
primary data are much cheaper and easier to gather.
survey data collection is highly inaccurate.
survey data do not provide in-depth responses.
the survey method has been replaced by the internet.
A survey question that requires a yes or no answer is called a
qualifier.
multiple-choice question.
50-50 question.
dichotomous question.
bimodal question.
Honda found that Latinos are 15% more likely to buy Japanese auto brands and make up 20% to 30% of Honda’s consumers. Honda has been the top-selling brand for Latinos for over 10 years due to targeted marketing, such as Spanish-language TV ads and partnerships. Based on this, which orientation best applies to Honda?
Environmental orientation
Target market orientation
Sales orientation
Production orientation
Market orientation
A major challenge for marketing researchers is finding
secondary data.
a sample that represents the population.
primary data.
qualified researchers.
unbiased researchers.
Scenario 6.1 — Use the following to answer the question. Lil Angels Kids Spa offers treatments for girls under 14, like manicures, pedicures, facials, tea parties, and birthday packages. They plan to expand to girls aged 14 to 17 and want to know if older girls will be interested in birthday and tea party services. Refer to Scenario 6.1. Lil Angels Kids Spa is currently using a targeting strategy.
undifferentiated
exclusive
concentrated
differentiated
selective
The United Methodist Church airs TV commercials with children answering questions. The church is using marketing to promote its
goods.
services.
experiences.
production.
ideas.
When the right circumstances occur for an organization to act toward a target market, the firm faces a
market objective.
market requirement.
strategic market plan.
market opportunity.
corporate objective.
When using personality characteristics for market segmentation, marketers usually
assess the personalities of their target market.
use research from psychologists to find common traits among their consumers.
use traits that everyone in the population has.
choose a positive trait they believe their target market has or wants.
hold focus groups to find both positive and negative traits of their target market.
Pace salsa thinks sales are rising because people see salsa as a healthier dip. The company sends an online survey to customers to learn why they buy salsa. Pace is doing ______ research.
exploratory
descriptive
conclusive
experimental
hypothesis
Martin conducts a research project by asking questions, doing a telephone survey, writing a report, and giving it to his boss. Which step of the marketing research process did he miss?
Collecting data
Defining and locating problems
Interpreting research
Designing the research project
Reporting research findings
If the MU Bookstore wanted to know what textbooks and supplies are needed at Midwestern University, the study population would be
the faculty and staff of Midwestern University.
all college-aged adults in Iowa.
all people in Des Moines and nearby areas.
undergraduate students at Midwestern University.
all students, faculty, supporters, and staff of Midwestern University.
What does a customer mainly expect from a marketer in an exchange?
a reward or benefit greater than the costs incurred.
the price of the product.
customer satisfaction.
quality merchandise that meets expectations.
a discounted price.
Which of the following is true about a marketing plan?
It is the largest strategic business plan in the organization.
It is the final step in strategic planning.
It is only useful for the company as a whole.
It should be an adaptive response to day-to-day issues and unanticipated situations.
It should be unique to the organization for which it was created.
The product variable of the marketing mix includes all of the following except
creation of brand names.
consumer perception of the product price.
development of product packaging.
warranty issues.
repair services.
The manager wants to quickly get many responses about the store's new layout and produce selection. Which data collection method is best?
Mail survey
Direct observation in the store
Telephone survey
Focus-group interview
Shopping mall intercept interview
The essence of marketing is
to select a target market big enough to make marketing efforts worthwhile.
to collect market information and use it to develop long‑lasting customer relationships.
to develop satisfying exchanges from which both customers and marketers benefit.
to modify marketing mix variables so as to secure the highest market share.
to provide customers with the greatest amount of value.
According to the text, a market is defined as
a place to buy products.
the buyers of the products that a company develops, promotes, prices, and distributes.
the group of customers an organization focuses its marketing on.
a group with needs for products and the ability, willingness, and authority to buy them.
the percentage of customers that buy a product from a company.
Scenario 5.1 — Use the following to answer the question. Marketing researchers use optical scanners and cable TV to test advertising. Volunteers in several cities allow their grocery purchases to be tracked and see different commercials at home. Their buying patterns are compared. For example, Barbara's Bakery tested a Shredded Wheat promotion: half the homes saw a commercial with the promotion, half saw one without. Scanner data was used to evaluate the promotion. Refer to Scenario 5.1. Barbara's testing of the Shredded Wheat promotion is an example of
the collection of secondary data used in a descriptive study.
information feedback used in an exploratory study.
the collection of secondary data used in an exploratory study.
the collection of primary data used in a descriptive study.
the defining and locating problems through an observational technique.
In which sampling design does the interviewer choose the respondents?
Stratified
Random
Cluster
Area
Quota
Where should a detailed marketing organizational chart be included in a marketing plan?
SWOT Analysis
Performance Evaluation
Marketing Implementation
Marketing Objectives
Environmental Analysis
_____ communication helps marketing managers understand the needs of lower-level employees.
Coordination
Downward
Upward
Centralized
Decentralized
Moki created a questionnaire to measure "outdoor activity preferences," but his professor said it measured something else. The professor was questioning the research design's
reliability.
significance.
truthfulness.
corroboration.
validity.
Apple succeeded by predicting what consumers wanted in technology, convenience, and ease of use. The iPad is an example of a ______ for Apple, something the company does very well and may give it an advantage over competitors.
benchmark
sustainable competitive advantage
core competency
strategic vision
marketing opportunity
GE Transportation makes locomotive engines for different countries. If GE decided to make engines only for the United States, the segmentation variable would be
geographic location
type of organization
market density
product use
customer size
What is the foundation for developing a company's marketing mix?
articulation of its marketing strategy
articulation of its competitive advantage
identification and analysis of the current market opportunity
identification and analysis of the marketing environment
identification and analysis of a target market
Brand Keys identifies top brands like Amazon, Google, Apple, and Netflix for high customer loyalty. These companies are engaging in ______ marketing.
relationship marketing
competitive marketing
production marketing
sales-oriented marketing
strategic marketing
At Mama Maggie’s Bakery, decisions are slow and top managers delegate little authority. Mama Maggie’s is a(n) ____ organization.
centralized
decentralized
empowered
marketing-oriented
sustainable
Anh is collecting data about the drinking habits of urban professionals at happy hour by observing what they order. The data Anh collects is ______, and she will use ______ to collect it.
secondary; observation
primary; personal interviews
primary; ethnographic techniques
secondary; ethnographic techniques
primary; focus groups
H&M researched why its U.S. sales are declining, focusing on Millennials' shopping habits. Results show Millennials prefer companies that support causes or social justice. Which orientation best applies to H&M?
Sales orientation
Target market orientation
Market orientation
Production orientation
Stakeholder orientation
If Woody’s Inc. marketed only to home construction companies, it would use a(n) ______ strategy. If it sold to both construction companies and DIY retailers, it would use a(n) ______ strategy.
undifferentiated; undifferentiated
undifferentiated; differentiated
differentiated; multisegmented
concentrated; differentiated
concentrated; concentrated
Which sales prediction method uses the relationship between sales and factors like population density or income?
executive judgment
time series analysis
regression analysis
a market test
an expert survey
Apple introduced the HomePod, a smart speaker. For Apple, HomePod represents a strategy of
question mark
diversification
product development
market penetration
market development
Which of the following is an example of benefit segmentation?
A cigarette manufacturer separates the market into heavy, moderate, and occasional users.
Colgate-Palmolive offers toothpaste with fluoride, whitening, and for sensitive gums.
REI has bikes for active bicyclists and for recreational users.
Lego targets children and adult collectors with different lines.
Michelin makes durable tires for hot climates.
Amazon Prime has high customer loyalty, with many subscribers renewing yearly or monthly. Many customers rely mainly on streaming services like Amazon Prime and Netflix for entertainment. Amazon Prime video is included in the $99/year Prime suite or $12.99/month. If many subscribers continue annually, Amazon builds stable revenue from repeat customers. One customer subscribed for five years and generated over $700 in revenue. Which marketing term best describes the importance of customer loyalty and its impact on Amazon?
Customer impact score
Customer retail calculation
Customer patronage value
Customer profitability value
Customer lifetime value
Which best describes the acceptance of the marketing concept by organizations?
The marketing concept has yet to be fully accepted by all organizations.
All organizations fully utilize the marketing concept.
Nearly half of organizations are still sales-oriented and have not implemented the marketing concept.
Most organizations have not accepted the marketing concept due to its costs and problems.
American organizations accept the marketing concept, but many foreign companies do not.
Herbal Organics used actor Sweet Dave Brown as its spokesperson in viral videos, leading to increased deodorant sales. What type of competitive growth strategy did Herbal Organics use?
Product penetration
Market development
Diversification
Market penetration
Product development
The marketing concept says an organization should satisfy customers’ needs and also
increase market share
increase sales
achieve the organization’s goals
produce high-quality products
coordinate its activities to increase production
Inventory levels and storage costs are concerns of which marketing mix variable?
distribution
product
exchange
price
promotion
Green Hills Cemetery offers eco-friendly burials using natural materials that decompose without harming the environment. The service is new in the U.S. but common in Great Britain. Customers choose Green Hills because of its ______, which shows a ______.
pricing; sales orientation
environmental consciousness; market orientation
novelty; production orientation
environmental consciousness; business orientation
pricing; profit orientation
In a business, what is a profit center that operates independently in sales, markets, production, and resources called?
profit entity
strategic business unit
marketing program
small business
diversified corporation
US Foods distributes food to various businesses. What targeting strategy would it most likely use?
Differentiated
Concentrated
Multifaceted
Undifferentiated
Cluster
Which internal source of secondary marketing information is often overlooked?
sales receipts
accounting records
interviews with salespeople
quality control data
consumer surveys
You are buying a laptop or tablet for notes and studying. You belong to a(n)
concentrated market
business market
B2B market
industrial market
consumer market
Segmentation variables for consumer markets are usually grouped into four categories:
demographic, geographic, religion, and income
geopolitical, income, behavioristic, and psychographic
attitudes, lifestyles, behaviors, and gender
geographic, demographic, psychographic, and attitudes
demographic, geographic, psychographic, and behavioristic
The U.S. unemployment rate is part of which set of forces in the marketing environment?
Sociocultural forces
Political forces
Economic forces
Competitive forces
International trade forces
A ____ is created when a company matches its core competency to opportunities in the marketplace.
market opportunity
market requirement
competitive advantage
strategic window
competitive opportunity
To understand an effective marketing concept, the marketer must know that __________ is the main focus. This helps the firm __________, leading to __________.
customer satisfaction; earn long-term profits; increased shareholder value
securing management; earn long-term profits; management continuity
employee satisfaction; earn long-term profits; positive labor relations
selling products; earn long-term profits; organizational stability
regulatory compliance; earn long-term profits; reduced regulatory costs
A(n) ____ is a collection of information for easy access and retrieval.
database
marketing information system
marketing decision support system
online information service
e-mail system
Moki Hunt owns a kayaking rental business. He found that retired males often rent kayaks, so he decided to include at least 25% retired males in his sample. The interviewers chose the respondents. This sampling method is known as ____ sampling.
quota
stratified
random
representative
area
Systems like Claritas and PRIZM give companies lifestyle and demographic data about U.S. neighborhoods. This helps with
behavioristic segmentation
geodemographic segmentation
market density analysis
demographic segmentation
geographic segmentation
Eighteen-year-old students do not form a market for alcoholic beverages because they
do not have enough buying power
are not allowed to buy this product
do not want this product
do not have enough experience with this product
do not have enough money
Which of the following is NOT a part of a marketing plan?
Environmental analysis
Marketing strategies
Product specifications
Executive summary
Marketing implementation
What is the final step in establishing an implementation timetable?
Assigning responsibility for each activity
Organizing activities in order
Determining completion time
Identifying activities
Separating sequential and simultaneous activities
Subscription services like IRI, which track consumer purchases, provide marketing researchers with ____ data.
census
statistical
internal secondary
external secondary
primary
A research method where people are exposed to an idea and their interaction is observed is called a(n)
in-home interview
mail survey
focus-group interview
shopping mall intercept interview
chat room interview
You are giving a keynote address and want to define marketing for the audience, who mostly think marketing is just advertising.
You define marketing as:
the process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers.
the process of persuading or seeking to persuade a customer or organization to take a preferred course of action.
the process of speaking or writing in support or defense of a firm’s products or services.
the process or practice of calling public attention to a firm’s goods and services through communications in print media, social media or other forms of information distribution.
the process of proving that a product or service offered by an organization meets or exceeds customers’ expectations.
All registered voters in Gabrielle Jackson's district would be the study’s
experiment
dependent variable
population
independent variable
sample
A system for collecting and managing information from inside and outside an organization is called
marketing research agencies
a marketing information system
the marketing mix
a marketing research system
a secondary data system
When conducting international marketing research, primary data gathering is more successful if the firm
employs local researchers who know how to approach respondents and speak their language.
uses its own researchers who know the company’s research methods.
uses its own researchers who know ethical research practices.
uses nonprobability sampling.
focuses on qualitative data instead of quantitative data.
The marketing concept is a management philosophy that affects
only marketing activities.
all efforts of the organization.
mainly the efforts of sales personnel.
mainly customer relations.
only business organizations.
To improve the accuracy of a sales forecasting regression model based on the U.S. economy, which type of data is most important?
Quantitative data about your company’s historical sales and U.S. economic performance statistics
Qualitative data about your company’s historical sales and U.S. economic performance statistics
Qualitative data about the department’s sales force
Quantitative data about your company’s historical sales only
Qualitative data about your marketing environment
Which statement about the undifferentiated targeting strategy is false?
It should be used when customers' needs are similar.
It uses one promotional program for everyone in the target market.
It is good for staple items like sugar and salt.
It uses multiple distribution systems to reach individuals in the target market.
The opposite is the differentiated targeting strategy.
A marketing plan
is typical of production-oriented firms and mass producers.
gives a framework for carrying out and checking marketing activities.
always raises the marketing manager’s costs.
creates only short-term plans.
limits the marketing manager’s future choices.
Common problems in failing companies are poor planning and unrealistic
sales forecasts
company sales potential
segmentation
Delphi techniques
regression analyses
Which statement is NOT true about business markets?
The purchase may be made to resell the item.
The purchase is always made by more than one individual.
The purchase may be made to use in general daily operations.
The purchase may be made to use in production of another product.
They can also be referred to as organizational markets.
For most firms, marketing costs consume about what portion of the consumer's dollar?
One-half
One-fifth
One-fourth
One-third
One-sixth
Forecasting methods that assume past sales trends will continue are types of
regression analysis.
random factor analysis.
seasonal analysis.
time series analysis.
past sales forecasting surveys.
