MKT 304 - Marketing Management » Spring 2019 » Exam
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Question #1
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.
market
B.
marketing program
C.
customer value proposition
D.
marketing
Question #2
the trade of things of value between buyer and seller so that each is better off after the trade
A.
exchange
B.
target market
C.
environmental forces
D.
market segments
Question #3
people with both the desire and the ability to buy a specific offering
A.
customer value
B.
marketing concept
C.
market
D.
market mix
Question #4
one or more specific groups of potential consumers toward which an organization directs its marketing program
A.
relationship marketing
B.
marketing
C.
target market
D.
societal marketing concept
Question #5
the controllable factors - product, price, promotion, and place - that can be used by the . marketing manager to solve a marketing problem
A.
utility
B.
exchange
C.
market mix
D.
market orientation
Question #6
the cluster of benefits that an organization promises customers to satisfy their needs
A.
market
B.
marketing
C.
profit
D.
customer value proposition
Question #7
the uncontrollable forces that affect a marketing decision and consist of social, economic, technological, competitive, and regulatory forces
A.
environmental forces
B.
market segmentation
C.
strategy
D.
exchange
Question #8
the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price
A.
core values
B.
customer value
C.
market
D.
points of difference
Question #9
links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit
A.
mission
B.
target market
C.
marketing strategy
D.
relationship marketing
Question #10
a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers
A.
organizational culture
B.
market mix
C.
marketing tactics
D.
marketing program
Question #11
the relatively homogeneous groups of prospective buyers that (1) have common needs and (2) will respond similarly to a marketing action
A.
market segments
B.
demographics
C.
business
D.
customer value proposition
Question #12
the idea that an organization should (1) strive to satisfy the needs of consumers while also (2) trying to achieve the organization's goals
A.
marketing dashboard
B.
environmental scanning
C.
target market
D.
marketing concept
Question #13
the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being
A.
market mix
B.
baby boomers
C.
marketing metric
D.
societal marketing concept
Question #14
an organization with a _____ focuses its efforts on (1) continuously collecting information about customers' needs, (2) sharing this information across departments, and (3) using it to create customer value
A.
points of difference
B.
business portfolio analysis
C.
customer value proposition
D.
market orientation
Question #15
a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value
A.
diversification analysis
B.
marketing strategy
C.
product
D.
environmental forces
Question #16
the people who use the products and services purchased for a household (also called consumers, buyers, or customers)
A.
strategic marketing process
B.
marketing tactics
C.
ultimate consumers
D.
customer value
Question #17
those manufacturers, wholesalers, retailers, service companies, not-for-profit organizations, and government agencies that buy products and services for their own use and for resale
A.
demographics
B.
culture
C.
situation analysis
D.
organizational buyers
Question #18
the benefit or customer value received by users of the product
A.
utility
B.
SWOT analysis
C.
environmental scanning
D.
economy
Question #19
the money left after a for-profit organization subtracts its total expenses from its total revenues and is the reward for the risk it undertakes in marketing its offerings
A.
technology
B.
market segmentation
C.
baby boomers
D.
profit
Question #20
an organization's long-term course of action designed to deliver a unique customer experience while achieving its goals
A.
marketing
B.
marketspace
C.
strategy
D.
relationship marketing
Question #21
the fundamental, passionate, and enduring principles of an organization that guide its conduct over time
A.
core values
B.
exchange
C.
Internet of Things (IoT)
D.
marketing program
Question #22
a statement of the organization's function in society that often identifies its customers, markets, products, and technologies. Often used interchangeably with vision
A.
market segments
B.
strategic marketing process
C.
mission
D.
market
Question #23
the set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization
A.
target market
B.
situation analysis
C.
organizational culture
D.
marketing concept
Question #24
the clear, broad, underlying industry or market sector of an organization's offering
A.
market mix
B.
business
C.
societal marketing concept
D.
SWOT analysis
Question #25
statements of an accomplishment of a task to be achieved, often by a specific time. Also called objectives
A.
customer value proposition
B.
market orientation
C.
goals
D.
market segmentation
Question #26
the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself
A.
points of difference
B.
market share
C.
product
D.
environmental forces
Question #27
a road map for the marketing actions of an organization for a specified future time period, such as one year or five years
A.
marketing plan
B.
ultimate consumers
C.
competition
D.
marketing strategy
Question #28
the visual display of the essential information related to achieving a marketing objective
A.
regulation
B.
marketing tactics
C.
marketing dashboard
D.
organizational buyers
Question #29
a measure of the quantitative value or trend of a marketing action or result
A.
demographics
B.
utility
C.
marketing metric
D.
consumerism
Question #30
a technique that managers use to quantify performance measures and growth targets to analyze their firms' strategic business units (SBUs) as though they were a collection of separate investments
A.
business portfolio analysis
B.
product
C.
environmental scanning
D.
self-regulation
Question #31
a technique that helps a firm search for growth opportunities from among current and new market as well as current and new products
A.
ultimate consumers
B.
diversification analysis
C.
customer value proposition
D.
moral idealism
Question #32
the approach whereby an organization allocates its marketing mix resources to reach its target markets
A.
organizational buyers
B.
utilitarianism
C.
environmental forces
D.
strategic marketing process
Question #33
taking stock of where the firm a product has been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it
A.
utility
B.
social responsibility
C.
situation analysis
D.
customer value
Question #34
an acronym describing an organization's appraisal of its internal Strengths and Weaknesses and its external Opportunities and Threats
A.
relationship marketing
B.
green marketing
C.
SWOT analysis
D.
profit
Question #35
involves aggregating prospective buyers into groups, or segments, that (1) have common needs and (2) will respond similarly to a marketing action
A.
strategy
B.
cause marketing
C.
market segmentation
D.
marketing program
Question #36
those characteristics of a product that make it superior to competitive substitutes
A.
market segments
B.
core values
C.
points of difference
D.
purchase decision process
Question #37
the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it
A.
marketing strategy
B.
involvement
C.
marketing concept
D.
mission
Question #38
the detailed day-to-day operational marketing actions for each element of the marketing mix that contribute to the overall success of marketing strategies
A.
societal marketing concept
B.
organizational culture
C.
marketing tactics
D.
motivation
Question #39
describing a population according to selected characteristics such as age, gender, ethnicity, income, and occupation
A.
personality
B.
market orientation
C.
marketing
D.
demographics
Question #40
the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends
A.
perception
B.
environmental scanning
C.
code of ethics
D.
exchange
Question #41
includes the generation of 76 million children born between 1946 and 1964
A.
baby boomers
B.
moral idealism
C.
market
D.
competition
Question #42
includes the 50 million people born between 1965 and 1976. Also called the baby bust
A.
target market
B.
generation X
C.
utilitarianism
D.
regulation
Question #43
includes the 72 million Americans born between 1977 and 1994. Also called the echo-boom or the baby boomlet
A.
social responsibility
B.
market mix
C.
generation Y
D.
consumerism
Question #44
combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races
A.
green marketing
B.
self-regulation
C.
customer value proposition
D.
multicultural marketing
Question #45
the set of values, ideas, and attitudes that are learned and shared among the members of a group
A.
cause marketing
B.
culture
C.
ethics
D.
environmental forces
Question #46
pertains to the income, expenditures, and resources that affect the cost of running a business and household
A.
purchase decision process
B.
customer value
C.
target market
D.
economy
Question #47
inventions or innovations from applied science or engineering research
A.
involvement
B.
relationship marketing
C.
technology
D.
market mix
Question #48
an information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunication technologies and digital offerings
A.
motivation
B.
marketing program
C.
customer value proposition
D.
marketspace
Question #49
the network of products embedded with connectivity-enabled electronics
A.
word of mouth
B.
personality
C.
environmental forces
D.
Internet of Things (IoT)
Question #50
the alternative firms that could provide a product to satisfy a specific market's needs
A.
customer value
B.
motivation
C.
reference groups
D.
competition
Question #51
restrictions state and federal laws place on a business with regard to the conduct of its activities
A.
relationship marketing
B.
personality
C.
regulation
D.
brand community
Question #52
a grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institutions
A.
perception
B.
consumerism
C.
marketing program
D.
family life cycle
Question #53
an alternative to government control whereby an industry attempts to police itself
A.
subcultures
B.
self-regulation
C.
market segments
D.
perceived risk
Question #54
the moral principles and values that govern the actions and decisions of an individual or group
A.
business-to-business marketing
B.
learning
C.
ethics
D.
marketing concept
Question #55
a law that codified the ethics of exchange between buyers and sellers, including the rights to safety, to be informed, to choose, and to be heard
A.
organizational buyers
B.
societal marketing concept
C.
Consumer Bill of Rights (1962)
D.
brand loyalty
Question #56
a formal statement of ethical principles and rules of conduct
A.
derived demand
B.
attitude
C.
code of ethics
D.
ultimate consumers
Question #57
a personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome
A.
beliefs
B.
moral idealism
C.
organizational buyers
D.
marketing
Question #58
a personal moral philosophy that focuses on "the greatest good for the greatest number" by assessing the costs and benefits of the consequences of ethical behavior
A.
utility
B.
opinion leaders
C.
exchange
D.
utilitarianism
Question #59
the idea that organizations are part of a larger society and are accountable to that society for their actions
A.
market
B.
perceived risk
C.
social responsibility
D.
profit
Question #60
marketing efforts to produce, promote, and reclaim environmentally sensitive products
A.
green marketing
B.
strategy
C.
target market
D.
learning
Question #61
occurs when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products
A.
core values
B.
market mix
C.
cause marketing
D.
brand loyalty
Question #62
the five stages a buyer passes through in making choices about which products and services to buy: (1) problem recognition, (2) information search, (3) alternative evaluation, (4) purchase decision, and (5) post-purchase behavior
A.
mission
B.
attitude
C.
purchase decision process
D.
customer value proposition
Question #63
the personal, social, and economic significance of the purchase to the consumer
A.
environmental forces
B.
beliefs
C.
involvement
D.
organizational culture
Question #64
the energizing force that stimulates behavior to satisfy a need
A.
business
B.
opinion leaders
C.
customer value
D.
motivation
Question #65
a person's consistent behaviors or responses to recurring situations
A.
word of mouth
B.
goals
C.
personality
D.
relationship marketing
Question #66
the process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world
A.
perception
B.
marketing program
C.
market share
D.
reference groups
Question #67
the anxiety felt because the consumer cannot anticipate the outcomes of a purchase but believes there may be negative consequences
A.
perceived risk
B.
marketing plan
C.
market segments
D.
brand community
Question #68
those behaviors that result from (1) repeated experience and (2) reasoning
A.
learning
B.
marketing concept
C.
marketing dashboard
D.
family life cycle
Question #69
a favorable attitude toward and consistent purchase of a single brand over time
A.
marketing metric
B.
brand loyalty
C.
societal marketing concept
D.
subcultures
Question #70
a learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way
A.
international firm
B.
code of ethics
C.
utility
D.
attitude
Question #71
a consumer's subjective perception of how a product or brand performs on different attributes based on personal experience, advertising, and discussions with other people
A.
profit
B.
beliefs
C.
moral idealism
D.
multinational firm
Question #72
individuals who exert direct or indirect social influence over others
A.
strategy
B.
utilitarianism
C.
transnational firm
D.
opinion leaders
Question #73
the influencing of people during conversations
A.
core values
B.
word of mouth
C.
social responsibility
D.
global brand
Question #74
people to whom an individual looks as a basis for self-appraisal or as a source of personal standards
A.
global consumers
B.
mission
C.
green marketing
D.
reference groups
Question #75
a specialized group of consumers with a structured set of relationships involving a particular brand, fellow customers of that brand, and the product in use
A.
economic espionage
B.
organizational culture
C.
cause marketing
D.
brand community
Question #76
the distinct phases that a family progresses through from formation to retirement, each phase bringing with it identifiable purchasing behaviors
A.
business
B.
purchase decision process
C.
cross-cultural analysis
D.
family life cycle
Question #77
subgroups within the larger, or national, culture with unique values, ideas, and attitudes
A.
goals
B.
values
C.
involvement
D.
subcultures
Question #78
the marketing of products and services to companies, governments, or not-for-profit organizations for use in the creation of products and services that they can produce and market to others
A.
business-to-business marketing
B.
motivation
C.
customs
D.
market share
Question #79
those manufacturers, wholesales, retailers, service companies, not-for-profit organization, and government agencies that buy products and services for their own use or for resale
A.
personality
B.
organizational buyers
C.
marketing plan
D.
global competition
Question #80
the demand for industrial products and services that is driven by, or derived from, the demand for consumer products and services
A.
marketing dashboard
B.
perception
C.
multidomestic marketing strategy
D.
derived demand
Question #81
the decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers
A.
marketing
B.
marketing metric
C.
organizational buying behavior
D.
global marketing strategy
Question #82
the group of people in an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision
A.
international firm
B.
buying center
C.
business portfolio analysis
D.
exchange
Question #83
consist of three types of organizational buying situations: straight rebuy, new buy, and modified rebuy
A.
market
B.
multinational firm
C.
market segmentation
D.
buy classes
Question #84
online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information, money, products, and services. Also called B2B exchanges or e-hubs.
A.
e-marketplaces
B.
transnational firm
C.
target market
D.
points of difference
Question #85
in an e-marketplace, an online auction in which a seller puts an item up for sale and would-be buyers are invited to bid in competition with one another
A.
marketing strategy
B.
traditional auction
C.
global brand
D.
market mix
Question #86
in an e-marketplace, an online auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with one another
A.
customer value proposition
B.
marketing tactics
C.
global consumers
D.
reverse auction
Question #87
the practice of using barter rather than money for making global sales
A.
demographics
B.
countertrade
C.
environmental forces
D.
economic espionage
Question #88
increased demand for exports of other nations energizes their economic activity, resulting in higher national income, which stimulates their demand for imports
A.
environmental scanning
B.
customer value
C.
trade feedback effect
D.
cross-cultural analysis
Question #89
the difference between the monetary value of a nation's exports and imports
A.
balance of trade
B.
relationship marketing
C.
values
D.
baby boomers
Question #90
the practice of shielding one or more industries within a country's economy from foreign competition through the use of tariffs or quotas
A.
marketing program
B.
protectionism
C.
generation X
D.
customs
Question #91
government taxes on products or services entering a country that primarily serve to raise prices on imports
A.
usage rate
B.
marketing program
C.
generation Y
D.
tariffs
Question #92
a restriction placed on the amount of a product allowed to enter or leave a country
A.
quota
B.
80/20 rule
C.
market segments
D.
multicultural marketing
Question #93
a permanent institution that sets rules governing trade between its members through panels of trade experts who decide on trade disputes between members and issue binding decisions
A.
World Trade Organization (WTO)
B.
marketing
C.
marketing concept
D.
product positioning
Question #94
exists when firms originate, produce, and market their products and services worldwide
A.
exchange
B.
societal marketing concept
C.
global competition
D.
product repositioning
Question #95
a strategy used by multinational firms that have as many different product variations, brand names, and advertising programs as countries in which they do business
A.
multidomestic marketing strategy
B.
perceptual map
C.
market orientation
D.
market
Question #96
a strategy used by transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ
A.
product
B.
product
C.
target market
D.
global marketing strategy
Question #97
engages in trade and marketing in different countries as an extension of the marketing strategy in its home country
A.
international firm
B.
ultimate consumers
C.
services
D.
market mix
Question #98
views the world as consisting of unique parts and markets to each part differently (ex: Mr. Clean)
A.
consumer products
B.
customer value proposition
C.
organizational buyers
D.
multinational firm
Question #99
views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants rather than differences
A.
transnational firm
B.
environmental forces
C.
utility
D.
business products
Question #100
a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs
A.
four I's of services
B.
customer value
C.
global brand
D.
profit
Question #101
consumer groups living in many countries or regions of the world who have similar needs or seek similar features and benefits from products or services
A.
global consumers
B.
idle production capacity
C.
strategy
D.
relationship marketing
Question #102
the clandestine collection of trade secrets or proprietary information about competitors
A.
core values
B.
marketing dashboard
C.
economic espionage
D.
involvement
Question #103
the study of similarities and differences among consumers in two or more nations or societies
A.
marketing metric
B.
mission
C.
cross-cultural analysis
D.
motivation
Question #104
a society's personally or socially preferable modes of conduct or states of existence that tend to persist over time
A.
values
B.
business portfolio analysis
C.
business-to-business marketing
D.
personality
Question #105
what is considered normal and expected about the way people do things in a specific country
A.
customs
B.
diversification analysis
C.
organizational buyers
D.
perception
Question #106
A law, amended by the International Anti-Dumping and Fair Competition Act (1998), that makes it a crime for US corporations to bribe an official of a foreign government or political party to obtain or retain business in a foreign country
A.
strategic marketing process
B.
derived demand
C.
perceived risk
D.
Foreign Corrupt Practices Act (1977)
Question #107
things that represent ideas and concepts in a specific culture
A.
cultural symbols
B.
learning
C.
situation analysis
D.
organizational buying behavior
Question #108
the practice where a translated world or phrase is retranslated into the original language by a different interpreter to catch errors
A.
SWOT analysis
B.
brand loyalty
C.
buying center
D.
back translation
Question #109
the price of one country's currency expressed in terms of another country's currency
A.
currency exchange rate
B.
attitude
C.
market segmentation
D.
buy classes
Question #110
a global market-entry strategy in which a company produces products in one country and sells them in another country
A.
points of difference
B.
e-marketplaces
C.
exporting
D.
beliefs
Question #111
a global market-entry strategy in which a foreign company and a local firm invest together to create a local business in order to share ownership, control, and profits of the new company
A.
opinion leaders
B.
marketing strategy
C.
traditional auction
D.
joint venture
Question #112
a company offers the right to a trademark, patent, trade secret, or other similarly values item of intellectual property in return for a royalty or a fee
A.
marketing tactics
B.
licensing
C.
word of mouth
D.
reverse auction
Question #113
involves aggregating prospective buyers into groups, or segments, that (1) have common needs and (2) will respond similarly to a marketing action
A.
countertrade
B.
reference groups
C.
demographics
D.
market segmentation
Question #114
a marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products
A.
product differentiation
B.
environmental scanning
C.
brand community
D.
trade feedback effect
Question #115
a framework to relate the market segments of potential buyers to products offered or potential marketing actions
A.
baby boomers
B.
market-product grid
C.
balance of trade
D.
family life cycle
Question #116
the quantity consumed or patronage (store visits) during a specific period. Also called frequency marketing
A.
protectionism
B.
usage rate
C.
multicultural marketing
D.
subcultures
Question #117
a concept that suggest 80 percent of a firm's sales are obtained from 20 percent of its customers
A.
family life cycle
B.
culture
C.
Foreign Corrupt Practices Act (1977)
D.
80/20 rule
Question #118
the place a product occupies in consumers' minds based on important attributes relative to competitive products
A.
subcultures
B.
cultural symbols
C.
economy
D.
product positioning
Question #119
changing the place a product occupies in a consumer's mind relative to competitive products
A.
back translation
B.
product repositioning
C.
business-to-business marketing
D.
technology
Question #120
a means of displaying in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how they perceive competing products or brands, as well as the firm's own product or brand
A.
currency exchange rate
B.
perceptual map
C.
organizational buyers
D.
marketspace
Question #121
a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value
A.
Internet of Things (IoT)
B.
product
C.
exporting
D.
derived demand
Question #122
intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value
A.
services
B.
joint venture
C.
competition
D.
organizational buying behavior
Question #123
products purchased by the ultimate consumer
A.
licensing
B.
consumer products
C.
buying center
D.
regulation
Question #124
products organizations buy that assist in providing other products for resale. Also called B2B products or industrial products.
A.
market segmentation
B.
buy classes
C.
business products
D.
consumerism
Question #125
the four unique elements that distinguish services from goods: intangibility, inconsistency, inseparability, and inventory
A.
self-regulation
B.
e-marketplaces
C.
product differentiation
D.
four I's of services
Question #126
occurs when the service provider is available but there is no demand for the service
A.
ethics
B.
market-product grid
C.
traditional auction
D.
idle production capacity
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