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
C.
customer value proposition
D.
marketing program
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.
exchange
C.
environmental forces
D.
target market
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.
marketing
B.
relationship 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.
exchange
C.
market orientation
D.
market mix
Question #6
the cluster of benefits that an organization promises customers to satisfy their needs
A.
customer value proposition
B.
marketing
C.
profit
D.
market
Question #7
the uncontrollable forces that affect a marketing decision and consist of social, economic, technological, competitive, and regulatory forces
A.
strategy
B.
environmental forces
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.
points of difference
B.
customer value
C.
core values
D.
market
Question #9
links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit
A.
marketing strategy
B.
relationship marketing
C.
target market
D.
mission
Question #10
a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers
A.
organizational culture
B.
marketing tactics
C.
marketing program
D.
market mix
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.
customer value proposition
D.
business
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.
marketing dashboard
C.
target market
D.
environmental scanning
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.
societal marketing concept
C.
marketing metric
D.
baby boomers
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.
environmental forces
B.
marketing strategy
C.
product
D.
diversification analysis
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.
customer value
C.
ultimate consumers
D.
marketing tactics
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.
situation analysis
B.
culture
C.
demographics
D.
organizational buyers
Question #18
the benefit or customer value received by users of the product
A.
utility
B.
economy
C.
environmental scanning
D.
SWOT analysis
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.
marketspace
B.
relationship marketing
C.
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.
exchange
D.
Internet of Things (IoT)
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
B.
strategic marketing process
C.
mission
D.
market segments
Question #23
the set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization
A.
organizational culture
B.
target market
C.
situation analysis
D.
marketing concept
Question #24
the clear, broad, underlying industry or market sector of an organization's offering
A.
SWOT analysis
B.
business
C.
societal marketing concept
D.
market mix
Question #25
statements of an accomplishment of a task to be achieved, often by a specific time. Also called objectives
A.
market segmentation
B.
goals
C.
customer value proposition
D.
market orientation
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.
environmental forces
B.
points of difference
C.
product
D.
market share
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.
organizational buyers
B.
regulation
C.
marketing tactics
D.
marketing dashboard
Question #29
a measure of the quantitative value or trend of a marketing action or result
A.
consumerism
B.
marketing metric
C.
demographics
D.
utility
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.
business portfolio analysis
C.
product
D.
environmental scanning
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.
diversification analysis
B.
ultimate consumers
C.
moral idealism
D.
customer value proposition
Question #32
the approach whereby an organization allocates its marketing mix resources to reach its target markets
A.
organizational buyers
B.
environmental forces
C.
utilitarianism
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.
situation analysis
B.
social responsibility
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.
relationship marketing
B.
SWOT analysis
C.
green 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.
marketing program
B.
cause marketing
C.
strategy
D.
market segmentation
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.
mission
B.
marketing strategy
C.
involvement
D.
marketing concept
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.
market orientation
B.
marketing
C.
demographics
D.
personality
Question #40
the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends
A.
perception
B.
exchange
C.
code of ethics
D.
environmental scanning
Question #41
includes the generation of 76 million children born between 1946 and 1964
A.
market
B.
competition
C.
baby boomers
D.
moral idealism
Question #42
includes the 50 million people born between 1965 and 1976. Also called the baby bust
A.
regulation
B.
target market
C.
generation X
D.
utilitarianism
Question #43
includes the 72 million Americans born between 1977 and 1994. Also called the echo-boom or the baby boomlet
A.
market mix
B.
social responsibility
C.
consumerism
D.
generation Y
Question #44
combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races
A.
multicultural marketing
B.
customer value proposition
C.
self-regulation
D.
green marketing
Question #45
the set of values, ideas, and attitudes that are learned and shared among the members of a group
A.
environmental forces
B.
culture
C.
ethics
D.
cause marketing
Question #46
pertains to the income, expenditures, and resources that affect the cost of running a business and household
A.
economy
B.
customer value
C.
target market
D.
purchase decision process
Question #47
inventions or innovations from applied science or engineering research
A.
relationship marketing
B.
involvement
C.
market mix
D.
technology
Question #48
an information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunication technologies and digital offerings
A.
customer value proposition
B.
marketspace
C.
marketing program
D.
motivation
Question #49
the network of products embedded with connectivity-enabled electronics
A.
Internet of Things (IoT)
B.
environmental forces
C.
word of mouth
D.
personality
Question #50
the alternative firms that could provide a product to satisfy a specific market's needs
A.
competition
B.
motivation
C.
customer value
D.
reference groups
Question #51
restrictions state and federal laws place on a business with regard to the conduct of its activities
A.
brand community
B.
regulation
C.
personality
D.
relationship marketing
Question #52
a grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institutions
A.
marketing program
B.
family life cycle
C.
consumerism
D.
perception
Question #53
an alternative to government control whereby an industry attempts to police itself
A.
market segments
B.
perceived risk
C.
subcultures
D.
self-regulation
Question #54
the moral principles and values that govern the actions and decisions of an individual or group
A.
ethics
B.
marketing concept
C.
business-to-business marketing
D.
learning
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.
brand loyalty
B.
Consumer Bill of Rights (1962)
C.
organizational buyers
D.
societal marketing concept
Question #56
a formal statement of ethical principles and rules of conduct
A.
code of ethics
B.
ultimate consumers
C.
derived demand
D.
attitude
Question #57
a personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome
A.
moral idealism
B.
beliefs
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.
exchange
B.
utility
C.
opinion leaders
D.
utilitarianism
Question #59
the idea that organizations are part of a larger society and are accountable to that society for their actions
A.
perceived risk
B.
profit
C.
social responsibility
D.
market
Question #60
marketing efforts to produce, promote, and reclaim environmentally sensitive products
A.
target market
B.
green marketing
C.
strategy
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.
market mix
B.
brand loyalty
C.
cause marketing
D.
core values
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.
attitude
B.
customer value proposition
C.
purchase decision process
D.
mission
Question #63
the personal, social, and economic significance of the purchase to the consumer
A.
environmental forces
B.
beliefs
C.
organizational culture
D.
involvement
Question #64
the energizing force that stimulates behavior to satisfy a need
A.
opinion leaders
B.
motivation
C.
business
D.
customer value
Question #65
a person's consistent behaviors or responses to recurring situations
A.
word of mouth
B.
personality
C.
relationship marketing
D.
goals
Question #66
the process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world
A.
marketing program
B.
reference groups
C.
market share
D.
perception
Question #67
the anxiety felt because the consumer cannot anticipate the outcomes of a purchase but believes there may be negative consequences
A.
marketing plan
B.
brand community
C.
market segments
D.
perceived risk
Question #68
those behaviors that result from (1) repeated experience and (2) reasoning
A.
learning
B.
marketing dashboard
C.
marketing concept
D.
family life cycle
Question #69
a favorable attitude toward and consistent purchase of a single brand over time
A.
subcultures
B.
marketing metric
C.
brand loyalty
D.
societal marketing concept
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.
international firm
C.
attitude
D.
utility
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.
multinational firm
B.
profit
C.
beliefs
D.
moral idealism
Question #72
individuals who exert direct or indirect social influence over others
A.
utilitarianism
B.
transnational firm
C.
strategy
D.
opinion leaders
Question #73
the influencing of people during conversations
A.
core values
B.
global brand
C.
word of mouth
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.
reference groups
C.
global consumers
D.
mission
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.
brand community
B.
economic espionage
C.
cause marketing
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.
cross-cultural analysis
C.
family life cycle
D.
business
Question #77
subgroups within the larger, or national, culture with unique values, ideas, and attitudes
A.
values
B.
subcultures
C.
goals
D.
involvement
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.
customs
B.
market share
C.
motivation
D.
business-to-business marketing
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.
organizational buyers
B.
global competition
C.
marketing plan
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.
multidomestic marketing strategy
B.
perception
C.
derived demand
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.
global marketing strategy
B.
marketing metric
C.
organizational buying behavior
D.
marketing
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.
exchange
C.
business portfolio analysis
D.
buying center
Question #83
consist of three types of organizational buying situations: straight rebuy, new buy, and modified rebuy
A.
market
B.
multinational firm
C.
buy classes
D.
market segmentation
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.
target market
C.
points of difference
D.
e-marketplaces
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.
global brand
C.
market mix
D.
traditional auction
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.
customer value proposition
C.
marketing tactics
D.
global consumers
Question #87
the practice of using barter rather than money for making global sales
A.
countertrade
B.
economic espionage
C.
demographics
D.
environmental forces
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.
customer value
B.
cross-cultural analysis
C.
environmental scanning
D.
trade feedback effect
Question #89
the difference between the monetary value of a nation's exports and imports
A.
relationship marketing
B.
values
C.
baby boomers
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.
generation X
B.
protectionism
C.
customs
D.
marketing program
Question #91
government taxes on products or services entering a country that primarily serve to raise prices on imports
A.
marketing program
B.
generation Y
C.
usage rate
D.
tariffs
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
B.
product positioning
C.
marketing concept
D.
World Trade Organization (WTO)
Question #94
exists when firms originate, produce, and market their products and services worldwide
A.
exchange
B.
product repositioning
C.
global competition
D.
societal marketing concept
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.
perceptual map
B.
market orientation
C.
market
D.
multidomestic marketing strategy
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.
global marketing strategy
C.
product
D.
target market
Question #97
engages in trade and marketing in different countries as an extension of the marketing strategy in its home country
A.
services
B.
international firm
C.
ultimate consumers
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.
organizational buyers
C.
multinational firm
D.
customer value proposition
Question #99
views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants rather than differences
A.
environmental forces
B.
business products
C.
transnational firm
D.
utility
Question #100
a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs
A.
profit
B.
global brand
C.
customer value
D.
four I's of services
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.
relationship marketing
B.
global consumers
C.
idle production capacity
D.
strategy
Question #102
the clandestine collection of trade secrets or proprietary information about competitors
A.
economic espionage
B.
involvement
C.
core values
D.
marketing dashboard
Question #103
the study of similarities and differences among consumers in two or more nations or societies
A.
mission
B.
marketing metric
C.
motivation
D.
cross-cultural analysis
Question #104
a society's personally or socially preferable modes of conduct or states of existence that tend to persist over time
A.
business portfolio analysis
B.
values
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.
perception
B.
diversification analysis
C.
organizational buyers
D.
customs
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.
situation analysis
B.
organizational buying behavior
C.
cultural symbols
D.
learning
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.
brand loyalty
D.
SWOT analysis
Question #109
the price of one country's currency expressed in terms of another country's currency
A.
currency exchange rate
B.
market segmentation
C.
buy classes
D.
attitude
Question #110
a global market-entry strategy in which a company produces products in one country and sells them in another country
A.
beliefs
B.
points of difference
C.
e-marketplaces
D.
exporting
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.
joint venture
C.
marketing strategy
D.
traditional auction
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.
reverse auction
C.
marketing tactics
D.
word of mouth
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.
balance of trade
C.
market-product grid
D.
family life cycle
Question #116
the quantity consumed or patronage (store visits) during a specific period. Also called frequency marketing
A.
usage rate
B.
subcultures
C.
multicultural marketing
D.
protectionism
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.
80/20 rule
C.
culture
D.
Foreign Corrupt Practices Act (1977)
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.
technology
C.
back translation
D.
product repositioning
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.
marketspace
B.
organizational buyers
C.
currency exchange rate
D.
perceptual map
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.
derived demand
B.
Internet of Things (IoT)
C.
exporting
D.
product
Question #122
intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value
A.
competition
B.
services
C.
organizational buying behavior
D.
joint venture
Question #123
products purchased by the ultimate consumer
A.
consumer products
B.
regulation
C.
licensing
D.
buying center
Question #124
products organizations buy that assist in providing other products for resale. Also called B2B products or industrial products.
A.
buy classes
B.
business products
C.
market segmentation
D.
consumerism
Question #125
the four unique elements that distinguish services from goods: intangibility, inconsistency, inseparability, and inventory
A.
self-regulation
B.
four I's of services
C.
e-marketplaces
D.
product differentiation
Question #126
occurs when the service provider is available but there is no demand for the service
A.
idle production capacity
B.
ethics
C.
traditional auction
D.
market-product grid
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