Other
_______ is an intelligence system that helps managers assess their competition and vendors to become more efficient and effective competitors.
a.Market research b. Market intelligence c. Competitive intelligence d. Research intelligence
What is C (Competitive Intelligence)
Marketing that aims at markets across the world is called _______.
a. global marketing b. outsourcing c. inshoring d. regional marketing
What is A (Global Marketing)
The study of people's essential statistics, such as age, race and ethnicity, and location, is called _______.
What is demography
Which of the following ethical theories prioritizes the well-being of the majority of people using the fairest means available?
a. Deontological theory
b. Moral relativism theory
c. Act utilitarianism theory
d. Rule utilitarianism theory
what is D (rule utilitarianism)
Marketing is based on the understanding that organizations have employees, suppliers, stockholders, and distributors as _______.
a. stakeholder "partners" b. competitors c. clients d. Consultants
What is A (Stakeholders "partners")
The process of defining, dividing, and subdividing a large homogenous market into clear identifiable segments having similar needs, wants, or demand characteristics is identified as _______.
What is Market Segmentation
A country has a(n) _______ when it can produce a product or service at a lower cost than any other country or when it is the only country that can provide the product or service.
What is absolute advantage
Bonnie is a dog lover. She walks her border collie every day, takes him to obedience classes, and buys him the newest doggie toy. Bonnie's friends are all involved in showing and breeding dogs. They only buy high-quality organic pet food and other outstanding pet products. Which of the following refers to a group of people for which an organization designs a marketing mix, in this case pet products, intended to satisfy the needs of pet owners like Bonnie?
a. target market b. industrial market c. virtual market d. external market
What is A (Target Market)
Developing long-term sources of clean water to improve health and preserve local ecosystems while creating a competitive advantage is an example of _______.
What is environmental sustainability
We "give up" money to "get" the goods and services we want. Giving up something in order to receive something else is an example of the basic marketing principle of _______.
what is exchange
The purpose of market segmentation is to _______.
a. change consumer attitudes and beliefs toward a product
b. divide a market into submarkets of equal size and equal number of customers
c. eliminate the need for developing marketing objectives
d. enable a marketer to tailor marketing mixes to meet the needs of one or more specific segments
What is D (enable a marketer to tailor marketing mixes to meet the needs of one or more specific segments)
A company that is heavily engaged in global trade, beyond exporting and importing, is called _______.
a.a regional firm b. a multinational corporation c. a capital intensive firm d. an export agent
Starbucks sees itself as a premium coffee brand based on an overall premium experience. The great customer experience is supported by a welcoming store environment giving customers an appealing space to relax. This example shows that____
a. companies must understand the needs and wants of their customers
b.companies must understand the competition
c. companies should understand consumer decision making
d. companies should adopt environmentally friendly policies
What is A (Companies must understand the needs and wants of their customers)
Sanchez Foods Inc. is a large food manufacturing corporation that uses only organically grown grains and fruits. It also promotes organic farming and decided to use a third-party recycling. In this scenario, Sanchez Foods is most likely to have adopted the practice of _______.
What is green marketing
_______ involves designing activities relating to marketing objectives and the changing marketing environment.
a. Marketing planning b. Planning c. Strategic planning d. Operations planning
what is A (marketing planning)
Which of the following statements is true of markets?
a. They are composed of people or organizations
b. They thrive only with government funds and subsidies
c. They provide discounts for every consumer
d. They influence consumers to buy products they do not need
What is A (They are composed of people or organizations)
Which of the following refers to the total market value of all final goods and services produced in country during a given time period?
What is Gross Domestic Product
Fast casual restaurants such as Chipotle are expanding because firms recognize that potential customers are predominantly young people. This scenario illustrates how _______ influence marketing decisions.
a. economic factors b. demographic factors c. Legal factors d. ethical factors
Ben & Jerry's is focused on the communities in which it serves. In the U.K., the company has a bus that travels through the streets during festivals selling ice cream. The profits gained at festivals is used to support charitable causes such as "Childline," a counseling service for children and young people. This is an example of _______.
what is corporate social responsibility
When a firm focuses on its internal capabilities rather than on the desires and needs of the marketplace, then the firm is said to have adopted the _______ orientation.
What is production orientation
Christina buys groceries every month from Target and rarely does much research on the products she buys. What is the marketing term for this type of consumer behavior?
a. emotional involvement b. enduring involvement c. routine response behavior d. extensive decision making
What is C (Routine Response Behavior)
McDonald's is a company that has franchises worldwide. McDonald's understands international marketing opportunities, uses effective international marketing strategies, and knows the threats from foreign competitors in all markets. McDonald's takes advantage of _______.
a. global vision b. protectionism c. outsourcing d. Inshoring
What is A (Global Vision)
After being influenced by frequent advertisements, Santiago buys a new cell phone. However, he discovers that the new cell phone does not offer the features he expected. This scenario illustrates that _______ of the purchase is less than Santiago's expectations.
a. the perceived value b. the actual value c. the utilitarian value d. the hedonic
What is B (The actual value)
The Western Company wants its employees to behave in an honest, trustworthy manner. For this reason, the Western Company has a written company guideline to help marketing managers and other employees make better decisions. The guideline is called _______.
What is a code of ethics
The Brooks Machine Shop is known for adopting a strategy that focuses on designing new products based on the capabilities of its engineers and available resources. The firm’s approach, which emphasizes the ease of production and the talents of its staff rather than the needs and wants of the marketplace, can be attributed to its _______ orientation.
What is production orientation