1. (TCO 1) 3M inventor David Windorski's challenge was to design new products for college students. The first step in solving this challenge was to (Points: 3)
satisfy students studying needs.
advertise the new products he had invented.
use word-of-mouth to tell college students about his ideas.
discover students studying needs.
ask 3M to support him while he pursued his new ideas.
2. (TCO 1) The American Red Cross created a series of advertisements encouraging viewers to donate blood. After viewing the advertisement, Amanda went to the local Red Cross office and donated a pint of blood. Afterwards, Amanda returned home feeling satisfied that she had performed a good deed. Was this a marketing exchange? (Points: 3)
no, because the Red Cross is non-profit organization.
yes, because the Red Cross ran an advertisement.
yes, because the donated blood was exchanged for a feeling of satisfaction.
no, because no money was exchanged.
no, because the Red Cross did not provide Amanda with a product.
3. (TCO 1) The first objective in marketing is to discover consumer (Points: 3)
ability to pay.
4. (TCO 6) Which of the following would be the BEST the target market for tickets to the home games of the Indianapolis Colts professional football team? (Points: 3)
all people in the Indianapolis area
all people in the U.S
all men in the U.S
people in the Indianapolis area with an interest in professional football
all people in the U.S. with an interest in professional football
5. (TCO 6) Which of the following would a marketer use as a synonym for controllable marketing mix factors? (Points: 3)
the five external environmental forces
the five Cs
the four Ps
price, product, production, and promotion
6. (TCO 1) __________ is the money left over after a business firm's total expenses are subtracted from its total revenues. (Points: 3)
7. (TCO 1) The corporate level is where the head of marketing (Points: 3)
directs all employees' training and orientation.
decides recruitment strategy and tactics.
sees that marketing strategy is implemented to achieve critical marketing goals.
develops overall sales projections.
does all of the above.
8. (TCO 1) The marketing department helps keep the organization focused on creating value both for it and for customers. This is accomplished by (Points: 3)
listening to customers.
implementing marketing program activities.
doing all of the above.
9. (TCO 1) By understanding its business, an organization can take steps to define its __________, a statement of the organization's functions in society, often identifying its customers, markets, products, and technologies. (Points: 3)
10. (TCO 1) The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself, is called (Points: 3)
11. (TCO 1) Step two in the planning phase of the strategic marketing process is (Points: 3)
the situation analysis.
the market-product focus and goal setting.
the marketing program.
12. (TCO 1) The consumer products industry is one with several large competitors, soaring raw materials prices, and strong demands from powerful retailers for lower prices. As a result Colgate-Palmolive Co. and Unilever Group, the makers of products such as Colgate toothpaste and Ben & Jerry s ice cream both reduced their earnings forecasts. Yet Proctor & Gamble, another consumer products company did not. At P & G innovation is a key attribute, allowing the company to update all 200 of their brands and to invent products such as Crest Whitestrips that consumers crave. P & G has also used its marketing know-how to develop unique product placements on television shows that highlight its brands. A SWOT analysis for P & G of this information would indicate that the overall industry situation is a __________ while the invention taking place at P & G is a __________. (Points: 3)
13. (TCO 1) There are no magic one-size-fits-all guidelines for writing successful marketing and business plans. Nevertheless, all of the following generally apply EXCEPT (Points: 3)
use a direct, professional writing style.
be positive and specific to convey potential success.
use bullet points for succinctness and emphasis.
save the most important points for the conclusion.
strive to develop a plan 15 to 35 pages in length, not including financial projections and appendixes.
14. (TCO 5) The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called (Points: 3)
a SWOT analysis.
15. (TCO 5) Social forces (Points: 3)
include demographics and values.
usually have little impact on marketing strategy.
include reduced emphasis on trade regulation.
empower workers to improve their performance.
encourage international trade.
16. (TCO 5) Generally, the U.S. population is becoming (Points: 3)
smaller, younger, and more diverse.
smaller, older, and more diverse.
larger, older, and less diverse.
larger, younger, and more diverse.
larger, older, and more diverse.
17. (TCO 6) Value consciousness is (Points: 3)
changing values with careful consideration.
the concern for obtaining the best quality, features, and performance of a product or service for a given price.
the concern for obtaining the best price of a product or service.
18. (TCO 5) __________ is a time of slow economic activity when businesses decrease production, unemployment rises, and many consumers have less money to spend. (Points: 3)
19. (TCO 5) One reason some people don't like to buy clothing from Internet retailers is the inability to know if the clothes will fit once they have arrived. ImageTwin has developed a scanning system with which it has gathered the measurements of individuals of all different sizes. All of the information has been fed into a database. Now, when you buy something at LandsEnd.com, you can see a 3D image of what the item should look like on your body. This is an example of __________ forces in the marketing environment. (Points: 3)
20. (TCO 5) __________ is the form of competition where just a few companies control the majority of industry sales. (Points: 3)
21. (TCO 6) Which of the following statements about the problem recognition stage of the purchase decision process is most true? (Points: 3)
The decision-maker perceives a difference between their actual and ideal situations but it s not big enough to trigger a decision.
Advertisements can activate a consumer s decision process by showing shortcomings of competing products.
Advertisements can only activate a consumer s decision process by showing shortcomings of currently owned products.
The consumer scans their memory for previous experiences with certain products or brands.
The consumer pays attention to advertising suggesting criteria to use for the purchase.
22. (TCO 6) Customer satisfaction is an important focus for marketers because (Points: 3)
marketing research is an inexpensive process.
the financial value of a retained customer can be significant.
customer value is a non-quantifiable statistic.
attracting new customers is easier than keeping old ones.
a market development strategy is preferable to a market penetration strategy.
23. (TCO 6) Organizational buyers can be divided into three different markets. They are (Points: 3)
industrial, wholesaler, and retailer.
industrial, retailer, and government.
retailer, manufacturer, and government agencies.
industrial, government, and ultimate consumer.
industrial, reseller, and government.
24. (TCO 6) Which of the following statements accurately characterizes the organizational buying process? (Points: 3)
Multiple buying influences exist and many people may be involved in the purchase decision process.
Buying objectives, procedures, and criteria are well established.
Negotiations between buyers and sellers regarding price is common.
The purchase of goods or services is usually handled by technically qualified and professional buyers.
All of the above statements accurately characterize the organizational buying process.
25. (TCO 6) Seven of the most commonly used organizational buying criteria are (1) __________, (2) ability to meet the quality specifications required for the item, (3) ability to meet required delivery schedules, (4) technical capability, (5) warranties and claim policies in the event of poor performance, (6) past performance on previous contracts, and (7) production facilities and capacity. (Points: 3)
taste of the buyer
personal friendship with sales representative
current mood of the buyer
opinion of the firm's senior management