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.
customer value proposition
B.
marketing program
C.
market
D.
marketing
Question #2
the trade of things of value between buyer and seller so that each is better off after the trade
A.
market segments
B.
environmental forces
C.
target market
D.
exchange
Question #3
people with both the desire and the ability to buy a specific offering
A.
customer value
B.
marketing concept
C.
market mix
D.
market
Question #4
one or more specific groups of potential consumers toward which an organization directs its marketing program
A.
relationship marketing
B.
marketing
C.
societal marketing concept
D.
target market
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.
market orientation
C.
exchange
D.
market mix
Question #6
the cluster of benefits that an organization promises customers to satisfy their needs
A.
profit
B.
marketing
C.
market
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.
strategy
C.
market segmentation
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.
customer value
B.
core values
C.
points of difference
D.
market
Question #9
links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit
A.
target market
B.
marketing strategy
C.
mission
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 program
D.
marketing tactics
Question #11
the relatively homogeneous groups of prospective buyers that (1) have common needs and (2) will respond similarly to a marketing action
A.
customer value proposition
B.
business
C.
demographics
D.
market segments
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 concept
B.
target market
C.
environmental scanning
D.
marketing dashboard
Question #13
the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being
A.
baby boomers
B.
societal marketing concept
C.
marketing metric
D.
market mix
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.
customer value proposition
B.
points of difference
C.
market orientation
D.
business portfolio analysis
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.
product
B.
environmental forces
C.
diversification analysis
D.
marketing strategy
Question #16
the people who use the products and services purchased for a household (also called consumers, buyers, or customers)
A.
customer value
B.
marketing tactics
C.
strategic marketing process
D.
ultimate consumers
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.
organizational buyers
B.
demographics
C.
culture
D.
situation analysis
Question #18
the benefit or customer value received by users of the product
A.
environmental scanning
B.
utility
C.
SWOT analysis
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.
baby boomers
B.
technology
C.
market segmentation
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.
relationship marketing
D.
strategy
Question #21
the fundamental, passionate, and enduring principles of an organization that guide its conduct over time
A.
marketing program
B.
core values
C.
Internet of Things (IoT)
D.
exchange
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.
mission
B.
market
C.
market segments
D.
strategic marketing process
Question #23
the set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization
A.
situation analysis
B.
target market
C.
marketing concept
D.
organizational culture
Question #24
the clear, broad, underlying industry or market sector of an organization's offering
A.
SWOT analysis
B.
market mix
C.
business
D.
societal marketing concept
Question #25
statements of an accomplishment of a task to be achieved, often by a specific time. Also called objectives
A.
goals
B.
market segmentation
C.
market orientation
D.
customer value proposition
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.
product
B.
market share
C.
points of difference
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.
competition
C.
ultimate consumers
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.
marketing metric
B.
utility
C.
consumerism
D.
demographics
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.
self-regulation
B.
product
C.
environmental scanning
D.
business portfolio analysis
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.
customer value proposition
B.
ultimate consumers
C.
moral idealism
D.
diversification analysis
Question #32
the approach whereby an organization allocates its marketing mix resources to reach its target markets
A.
environmental forces
B.
utilitarianism
C.
strategic marketing process
D.
organizational buyers
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.
social responsibility
B.
situation analysis
C.
customer value
D.
utility
Question #34
an acronym describing an organization's appraisal of its internal Strengths and Weaknesses and its external Opportunities and Threats
A.
SWOT analysis
B.
green marketing
C.
relationship marketing
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.
market segmentation
B.
strategy
C.
cause marketing
D.
marketing program
Question #36
those characteristics of a product that make it superior to competitive substitutes
A.
points of difference
B.
core values
C.
purchase decision process
D.
market segments
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.
involvement
B.
marketing concept
C.
mission
D.
marketing strategy
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.
marketing tactics
B.
motivation
C.
organizational culture
D.
societal marketing concept
Question #39
describing a population according to selected characteristics such as age, gender, ethnicity, income, and occupation
A.
demographics
B.
marketing
C.
market orientation
D.
personality
Question #40
the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends
A.
exchange
B.
code of ethics
C.
environmental scanning
D.
perception
Question #41
includes the generation of 76 million children born between 1946 and 1964
A.
moral idealism
B.
competition
C.
market
D.
baby boomers
Question #42
includes the 50 million people born between 1965 and 1976. Also called the baby bust
A.
generation X
B.
utilitarianism
C.
regulation
D.
target market
Question #43
includes the 72 million Americans born between 1977 and 1994. Also called the echo-boom or the baby boomlet
A.
generation Y
B.
market mix
C.
consumerism
D.
social responsibility
Question #44
combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races
A.
green marketing
B.
multicultural marketing
C.
customer value proposition
D.
self-regulation
Question #45
the set of values, ideas, and attitudes that are learned and shared among the members of a group
A.
culture
B.
cause marketing
C.
environmental forces
D.
ethics
Question #46
pertains to the income, expenditures, and resources that affect the cost of running a business and household
A.
purchase decision process
B.
target market
C.
customer value
D.
economy
Question #47
inventions or innovations from applied science or engineering research
A.
relationship marketing
B.
market mix
C.
involvement
D.
technology
Question #48
an information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunication technologies and digital offerings
A.
marketing program
B.
customer value proposition
C.
marketspace
D.
motivation
Question #49
the network of products embedded with connectivity-enabled electronics
A.
personality
B.
environmental forces
C.
Internet of Things (IoT)
D.
word of mouth
Question #50
the alternative firms that could provide a product to satisfy a specific market's needs
A.
reference groups
B.
competition
C.
motivation
D.
customer value
Question #51
restrictions state and federal laws place on a business with regard to the conduct of its activities
A.
relationship marketing
B.
regulation
C.
personality
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.
family life cycle
B.
marketing program
C.
consumerism
D.
perception
Question #53
an alternative to government control whereby an industry attempts to police itself
A.
perceived risk
B.
self-regulation
C.
subcultures
D.
market segments
Question #54
the moral principles and values that govern the actions and decisions of an individual or group
A.
business-to-business marketing
B.
ethics
C.
learning
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.
brand loyalty
C.
societal marketing concept
D.
Consumer Bill of Rights (1962)
Question #56
a formal statement of ethical principles and rules of conduct
A.
attitude
B.
derived demand
C.
ultimate consumers
D.
code of ethics
Question #57
a personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome
A.
beliefs
B.
marketing
C.
organizational buyers
D.
moral idealism
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.
utilitarianism
B.
exchange
C.
opinion leaders
D.
utility
Question #59
the idea that organizations are part of a larger society and are accountable to that society for their actions
A.
profit
B.
market
C.
social responsibility
D.
perceived risk
Question #60
marketing efforts to produce, promote, and reclaim environmentally sensitive products
A.
learning
B.
target market
C.
strategy
D.
green marketing
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.
cause marketing
B.
core values
C.
brand loyalty
D.
market mix
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.
organizational culture
B.
beliefs
C.
involvement
D.
environmental forces
Question #64
the energizing force that stimulates behavior to satisfy a need
A.
customer value
B.
motivation
C.
opinion leaders
D.
business
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.
market share
C.
marketing program
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.
market segments
B.
marketing plan
C.
perceived risk
D.
brand community
Question #68
those behaviors that result from (1) repeated experience and (2) reasoning
A.
marketing dashboard
B.
family life cycle
C.
learning
D.
marketing concept
Question #69
a favorable attitude toward and consistent purchase of a single brand over time
A.
brand loyalty
B.
societal marketing concept
C.
marketing metric
D.
subcultures
Question #70
a learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way
A.
code of ethics
B.
utility
C.
attitude
D.
international firm
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.
moral idealism
B.
profit
C.
multinational firm
D.
beliefs
Question #72
individuals who exert direct or indirect social influence over others
A.
strategy
B.
opinion leaders
C.
transnational firm
D.
utilitarianism
Question #73
the influencing of people during conversations
A.
word of mouth
B.
core values
C.
global brand
D.
social responsibility
Question #74
people to whom an individual looks as a basis for self-appraisal or as a source of personal standards
A.
green marketing
B.
mission
C.
reference groups
D.
global consumers
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.
cause marketing
B.
economic espionage
C.
brand community
D.
organizational culture
Question #76
the distinct phases that a family progresses through from formation to retirement, each phase bringing with it identifiable purchasing behaviors
A.
purchase decision process
B.
business
C.
family life cycle
D.
cross-cultural analysis
Question #77
subgroups within the larger, or national, culture with unique values, ideas, and attitudes
A.
values
B.
subcultures
C.
involvement
D.
goals
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.
motivation
B.
customs
C.
business-to-business marketing
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.
marketing plan
B.
global competition
C.
organizational buyers
D.
personality
Question #80
the demand for industrial products and services that is driven by, or derived from, the demand for consumer products and services
A.
perception
B.
derived demand
C.
multidomestic marketing strategy
D.
marketing dashboard
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.
organizational buying behavior
B.
global marketing strategy
C.
marketing
D.
marketing metric
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.
business portfolio analysis
B.
international firm
C.
exchange
D.
buying center
Question #83
consist of three types of organizational buying situations: straight rebuy, new buy, and modified rebuy
A.
multinational firm
B.
market
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.
transnational firm
B.
points of difference
C.
e-marketplaces
D.
target market
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.
global brand
B.
traditional auction
C.
market mix
D.
marketing strategy
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.
reverse auction
B.
marketing tactics
C.
customer value proposition
D.
global consumers
Question #87
the practice of using barter rather than money for making global sales
A.
environmental forces
B.
demographics
C.
countertrade
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.
trade feedback effect
B.
cross-cultural analysis
C.
environmental scanning
D.
customer value
Question #89
the difference between the monetary value of a nation's exports and imports
A.
baby boomers
B.
values
C.
relationship marketing
D.
balance of trade
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.
customs
B.
protectionism
C.
generation X
D.
marketing program
Question #91
government taxes on products or services entering a country that primarily serve to raise prices on imports
A.
tariffs
B.
usage rate
C.
marketing program
D.
generation Y
Question #92
a restriction placed on the amount of a product allowed to enter or leave a country
A.
multicultural marketing
B.
quota
C.
market segments
D.
80/20 rule
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.
marketing concept
B.
World Trade Organization (WTO)
C.
product positioning
D.
marketing
Question #94
exists when firms originate, produce, and market their products and services worldwide
A.
societal marketing concept
B.
product repositioning
C.
exchange
D.
global competition
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.
market orientation
B.
market
C.
multidomestic marketing strategy
D.
perceptual map
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.
target market
B.
global marketing strategy
C.
product
D.
product
Question #97
engages in trade and marketing in different countries as an extension of the marketing strategy in its home country
A.
market mix
B.
ultimate consumers
C.
international firm
D.
services
Question #98
views the world as consisting of unique parts and markets to each part differently (ex: Mr. Clean)
A.
organizational buyers
B.
multinational firm
C.
customer value proposition
D.
consumer products
Question #99
views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants rather than differences
A.
utility
B.
business products
C.
environmental forces
D.
transnational firm
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.
global brand
C.
profit
D.
customer value
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.
relationship marketing
C.
idle production capacity
D.
strategy
Question #102
the clandestine collection of trade secrets or proprietary information about competitors
A.
core values
B.
economic espionage
C.
marketing dashboard
D.
involvement
Question #103
the study of similarities and differences among consumers in two or more nations or societies
A.
mission
B.
cross-cultural analysis
C.
marketing metric
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.
business-to-business marketing
B.
personality
C.
values
D.
business portfolio analysis
Question #105
what is considered normal and expected about the way people do things in a specific country
A.
perception
B.
diversification analysis
C.
customs
D.
organizational buyers
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.
Foreign Corrupt Practices Act (1977)
D.
perceived risk
Question #107
things that represent ideas and concepts in a specific culture
A.
learning
B.
situation analysis
C.
cultural symbols
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.
back translation
B.
buying center
C.
SWOT analysis
D.
brand loyalty
Question #109
the price of one country's currency expressed in terms of another country's currency
A.
attitude
B.
market segmentation
C.
buy classes
D.
currency exchange rate
Question #110
a global market-entry strategy in which a company produces products in one country and sells them in another country
A.
e-marketplaces
B.
beliefs
C.
exporting
D.
points of difference
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.
traditional auction
C.
marketing strategy
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.
licensing
B.
marketing tactics
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.
market segmentation
C.
demographics
D.
reference groups
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.
brand community
B.
environmental scanning
C.
trade feedback effect
D.
product differentiation
Question #115
a framework to relate the market segments of potential buyers to products offered or potential marketing actions
A.
balance of trade
B.
family life cycle
C.
baby boomers
D.
market-product grid
Question #116
the quantity consumed or patronage (store visits) during a specific period. Also called frequency marketing
A.
subcultures
B.
multicultural marketing
C.
protectionism
D.
usage rate
Question #117
a concept that suggest 80 percent of a firm's sales are obtained from 20 percent of its customers
A.
culture
B.
80/20 rule
C.
Foreign Corrupt Practices Act (1977)
D.
family life cycle
Question #118
the place a product occupies in consumers' minds based on important attributes relative to competitive products
A.
cultural symbols
B.
product positioning
C.
subcultures
D.
economy
Question #119
changing the place a product occupies in a consumer's mind relative to competitive products
A.
business-to-business marketing
B.
product repositioning
C.
back translation
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.
exporting
B.
Internet of Things (IoT)
C.
product
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.
organizational buying behavior
B.
joint venture
C.
competition
D.
services
Question #123
products purchased by the ultimate consumer
A.
licensing
B.
regulation
C.
buying center
D.
consumer products
Question #124
products organizations buy that assist in providing other products for resale. Also called B2B products or industrial products.
A.
buy classes
B.
market segmentation
C.
consumerism
D.
business products
Question #125
the four unique elements that distinguish services from goods: intangibility, inconsistency, inseparability, and inventory
A.
product differentiation
B.
self-regulation
C.
four I's of services
D.
e-marketplaces
Question #126
occurs when the service provider is available but there is no demand for the service
A.
idle production capacity
B.
ethics
C.
market-product grid
D.
traditional auction
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