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Marketing 341 Ch. 1-6 Flashcards | StudBud
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Marketing 341 Ch. 1-6
Marketing 341 Ch. 1-6
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1
Market Product Strategies: new market for same product, new distributors, now channels, new geographies are...
Market Penetration
Market Development
Product Development
Diversification
2
Selling vs. Marketing? Focus is on Existing Products
Selling
Marketing
3
It is easier and cheaper to...
attract non-customers and make them customers.
keep existing customers.
4
Which generation includes the 75 million Americans born between 1977-1994 and is also referred to as "millennials"?
Generation Z
Generation Y
Generation X
Baby Boomers
5
What is the total amount of money made in one year by a person, household, or family unit?
Discretionary Income
Gross Income
Net Income
Disposable Income
6
What is the illegal and unethical clandestine collection of trade secrets or proprietary information about a competitor?
Caveat Emptor
Corporate Espionage
Cause Spying
International Espionage
7
What is the money that remains after paying for taxes and necessities?
Disposable Income
Net Income
Discretionary Income
Gross Income
8
What is the mode of living that is identified by how people spend their time and resources? (what people deem important)
Lifestyle
Livelihood
Attitude
Living the Dream
9
This type of organization is privately owned and serves its customers to earn a profit so that it can survive.
For-Profit
Government Agency
Non-Profit
10
What are the set of benefits to satisfy needs, usually done by marketing offer?
Things to Inheret
Gains
Value Proposition
Brand Experience
11
Which generation is post-millennial, born between 1995-2010 and is most technologically proficient?
Generation Z
Baby Boomers
Generation Y
Generation X
12
This type of nongovernmental organization serves its customers but does not have profit as an organizational goal.
Non-Profit
For-Profit
Government Agency
13
Which of these is
NOT
part of the SWOT Analysis?
Strengths
Weaknesses
Obstructions
Threats
14
Which of these is
NOT
an attitude-change approach?
Add new attributes to the product
Change the percieved importance of these attributes
Change the recognition of these attributes
Change beliefs about the extent to which a brand has certain attributes
15
Which generation includes the 50 million people born between 1965-1976 and are also known as the baby bust cohort?
Generation X
Baby Boomers
Generation Y
Generation Z
16
What one department is almost always representated by a person in the buying center?
Order Department
Marketing Department
HR
Purchasing Department
17
Which of these is
NOT
one of the three main types of organizational buyers?
Government Units
Resellers
Investment Firms
Industrial Firms
18
Product, Price, Promotion, and Place are known as...
Marketing How To's
Marketing Mix
Marketing Program
Marketing Concepts
19
Rent is a...
fixed cost.
variable cost.
20
Growth Share Matrix: This product could grow but would need money from cash cow.
Cash Cow
Dogs
Star
?
21
What is the process of exchange?
Marketing
Marketing
Marketing
Marketing
22
In the image, what letter represents the Break-Even Point?
B
A
P
C
23
Did you do your VALS assignment on Blackboard?
Yep, Completed it Today!
Nope, might not do it TBH.
Nope, thanks for reminding me!
Yes, I did it a few days ago!
24
Which of these factors is needed for marketing to occur?
There must be two or more parties with unsatisfied needs
Parties must have something to exchange
There must be a desire and ability to have needs satisfied
There must be a way for parties to communicate
25
In market research, primary source data is...
made on your own
takes management bandwidth (time management spends working on it)
relatively low cost
pre-made and must simply be found
26
Which generation is 73 million people who were born between 1946-1964 and will all be 65 or older by 2030?
Baby Boomers
Generation X
Generation Y
Generation Z
27
What is used to combine and segment the population into specific target markets?
Market Research
Market Segmentation
Marketing
Market Management
28
Finish this sentence. "People do business with...
...anyone."
...people they trust."
...the cheapest seller."
...people they like."
29
The Break Even Calculation is (Fixed Costs)/(Price - Variable Cost)
False
True
30
What means that organizations are part of a larger society and are accountable to that society for their actions?
Moral Idealiasm
Social Responsibility
Economic Espionage
Moral Responsibility
31
Which type of online auction creates downward pressure on the bid prices?
Traditional Auction
Reverse Auction
That'll be a nope
I wouldn't pick this one
32
What are the group of people who wish to be a member or identified with?
Associative Groups
Self Groups
Aspiration groups
Disassociative Groups
33
In pure competition there are a ________ number of sellers.
small
large
34
Selling vs. Marketing? Profit comes from Customer Satisfaction
Marketing
Selling
35
What are the groups with people who wish to remain at a distance because of differences in values or behavior?
Disassociative Groups
Aspiration groups
Self Groups
Associative Groups
36
The costs below line B are known as the...
variable costs.
fixed costs.
37
What is the marketing mix that reflects unique attitudes, ancestry, and lifestyles of different races and ethnic groups?
Ethnic Consciousness
Marketspace
Culture Marketing
Multicultural Marketing
38
What is a personal moral philosophy that considers certain individual rights or duties as universal?
Social Rights
Social Responsibility
Moral Responsibility
Moral Idealism
39
What does disintermediate mean?
To add more layers of manufacturing.
To remove the middle man.
To remove layers of manufacturing.
To remove intermediates in the selling process.
40
What is the notion of knowing your competitor, talking, and listening?
Marketing Intelligence
Marketing Channels
Economies of Scale
Market Information Systems
41
Growth Share Matrix: This product is positive and consistent high shares.
?
Dogs
Cash Cow
Star
42
What is the Acronym for Earnings Before Interest and Taxes?
BIT
EBIT
IT
EIT
43
From the selling perspective, the starting point is always what the factory is making. From the marketing point...
the starting point is at the point of sale.
the starting point is at the consumer.
the starting point is wherever the profit is.
the starting point is at the market.
44
This statement is an organization's clear, meaningful, concise, long term statement of function in society.
Goals
Meaning
Mission
Vision
45
What level of organization has groups of specialists from marketing, finance, accounting, info systems, research, and HR
Corporate Level
Strategic Business Unit Level
Functional Level
Board of Directors
46
What is the consumer purchase decision process?
The stages a consumer pass through about which products or services to buy
The determining factor for a consumer when purchasing a large item
The determining factor for a seller when selling high value items
The stages a seller passes through about which products or services to sell
47
Europe has the larges consumer affluence and everyone internationally wants to get to market in Europe.
False
True
48
Marketing Stimuli + Buyer Characteristics effect the...
Purchase Timing
Trade
Buyer
Buyer Response
49
What is brand loyalty?
Coke Forever!!!
Ehhhh....... I don't drink soda.
I don't care about either of these companies.
Pepsi Forever!!!
50
The manufacturers, wholesalers, and gov't agencies that buy products and services or own use or resale are known as...
Ultimate Consumers
Organizational Buyers
51
What are the variables displayed on a marketing dashboard which measure the quantitative value or trend of an action?
Marketing Metrics
Market Trends
Marketing Variables
I have no clue
52
Growth Share Matrix: This product is high in growth and high in shares.
?
Star
Cash Cow
Dogs
53
Which of these two are the key parts of the marketing concept?
Organizations should strive to satisfy the needs of consumers
The Customer is always right
Organizations must follow their marketing programs
Organizations should try to achieve the organization's goals
54
What is a systematic assessment of a firms objectives, strategies, and performance in terms of social responsibility?
Green Marketing
Social Audit
Bottom Line View
Assessment Staking
55
Market Product Strategies: Aggressive move, encourage existing customers to buy more, turn non-users to users is...
Diversification
Product Development
Market Penetration
Market Development
56
The ________ Act was punitive toward monopolies whereas the ________ Act was preventive.
Aww screw it, maybe Alexander made this an answer too
Nagel better not put this on the test
Clayton, Sherman Antitrust
Sherman Antitrust, Clayton
57
What is a small market opportunity withing a whole market?
Cornered Market
Market Insight
Market Niche
Market Premium
58
Ansoff's Product Market Growth Matrix is used...
To determine the specific strategies of a business
To expand an existing business
To plot strategies to grow a business
To decide where to invest in next
59
In consumer markets, the goal is to affect how consumers think, behave, and feel towards a brand.
False
True
60
What are the moral principles and values that govern the actions and decisions of an individual or group?
Scripture
Ethics
Just Actions
Morally Straight
61
What are online marketplaces that bring together buyer and supplier organizations to make possible real time exchange?
E-Commerce
E-Marketplaces
Wall-E
Online Shopping
62
An organization can't satisfy the needs of all consumer so it must focus on one or more subgroups, which are its...
ultimate consumers
markets
target markets
focus groups
63
CLV or Customer Lifetime Value is...
how much a customer will spend in their lifetime in the market.
how old and how much your customers re-purchase your products.
how much a customer will make in the course of their life.
how many people come back every day/week to purchase your goods.
64
What are the characteristics of a product that make it superior to competitive substitutes - offerings found in market?
Selling Points
Core Diversification
Sales Emphases
Points of Difference
65
What is the technique that managers use to quantify performance measures and growth targets to analyze their firms?
Business Marketing Analysis
Business Portfolio Analysis
Strategic Business Units
Strategic Business Plans
66
Market Product Strategies: more products to same people, more stuff and product mix, related products and services are..
Market Penetration
Product Development
Market Development
Diversification
67
The process of contracting other companies to manufacture your product is known as...
contracting
the marketing mix
contract manufacturing
outsourcing
68
Selling vs. Marketing? Profit is Gained through Volume
Selling
Marketing
69
In the B2B the...
good service is the driver in purchases.
pricing is the driver in purchases.
product is the driver in purchases.
efficiency of the plant is the driver in purchases.
70
Which of these are the PRIMARY forms of personal influence? (There are 2)
Polls
Social Reference Groups
Word of Mouth
Opinion Leadership
71
Marketing focuses on __________ and __________ consumer needs.
looking for, ignoring
markets, targets
products, filling
discovering, satisfying
72
The uncontrollable forces which affect marketing decisions: social, economic, technological, competitive, and regulatory
Customer Relations
Outside Forces
Uncontrolled Forces
Environmental Forces
73
The Better Business Bureau...
uses moral suasion to get members to comply with its standards.
has no real value.
requires companies to agree to standards before joining.
can be joined for an annual $20,000 fee.
74
Selling vs. Marketing? Focus on Customer Needs
Marketing
Selling
75
Which type of online auction creates upward pressure on the bid prices?
Nope
Nuh Uh
Reverse Auction
Traditional Auction
76
Product, Price, Promotion, Place, Economic Issues, Technology, Political, and Cultural are all Marketing Stimuli.
True
False
77
What is the money a consumer has after paying taxes to use for necessities? ie: food, housing, clothing, and transp.
Gross Income
Discretionary Income
Disposable Income
Net Income
78
What is the first stage in the consumer purchase decision process?
Percieving a Need
Determine your Customers
Recognize your Target Market
Create a Product
79
What is the visual display of the essential information related to achieving a a marketing objective?
Marketing Display
Display Metrics
Marketing Metric
Marketing Dashboard
80
What are groups where people belong, such as a brand community which consists of specialized groups of consumers?
Aspiration groups
Disassociative Groups
Associative Groups
Self Groups
81
Click one of the four possible reasons for the present state of ethical conduct in the United States.
Ethical business conduct may have actually decline
Public's expectations of ethical business behavior has increased
Growing tendency for business decisions to be judged publicly
Increased pressure to make decisions in a society with diverse value system
82
What are the statements of tasks to be achieved often by a specific time?
Organization's Business
Accomplishments
Task Completion
Goals
83
Growth Share Matrix: This product is low growth and low share.
?
Dogs
Cash Cow
Star
84
Marketing efforts to produce, promote, and reclaim environmentally sensitive products are called ________.
CG marketing
Green marketing
Eco Business Systems
Environmentally friendly options
85
Who are the people who use the products and services for a household?
Ultimate Consumers
Organizational Buyers
86
If the Fixed cost/year is $300,000, the variable cost/unit is $40, and the market price is $100, what is the break even?
4,000 Units
$4,000
5,000 Units
$5,000
87
In market research, secondary source data is...
somewhat similar to your situation
made by you
data obtained from a third party
done, already published
88
What is the term of post-purchase anxiety?
Consumer Jitters
Cognitive Dissonance
Purchase Reevaluation
Buyers Remorse
89
Market Product Strategies: new products in a new market, little/no economies of scale, expand business to new area are..
Market Penetration
Product Development
Market Development
Diversification
90
What is the activity of creating, delivering and exchanging offerings that benefit customers, organizations and society?
Accounting
Managing
Marketing
Finance
91
The brands a consumer considers buying out of the set of brands available to them is called the ______________.
Seller Choice
Involvment
Brand Choice
Consideration Set
