Exam 11: Marketing Processes and Consumer Behavior

Hilltel's head of marketing thinks that a standardized marketing strategy will allow the company to portray a consistent global brand. Which of the following, if True about using a single marketing approach, would strengthen his case?

The institutional market is made up of businesses that buy goods to be converted into other products or that are used up during production.

Garrett is in the business of selling baseball bats. He decides to employ focus groups to determine which bats will likely be bestsellers. Which of the following groups will he be LEAST likely to invite as participants?

Explain the elements that comprise the marketing environment.

During the product life cycle, when do sales begin to climb and the product begin to show profit?

The director of marketing argues that Dinasonic's products will need to be adapted to local markets to fit the standard of living in other countries. Which of the following, if True, would strengthen this position?

Which of the following is assumed by the Marketing Director's argument?

What is the term for the process of creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders?

Martin has begun to look at product differentiation strategies for Panther Shoes. Explain product differentiation.

Packaging can serve as an in-store advertisement that makes the product attractive, displays the brand name, and identifies features and benefits.

Tamika starts a business making teddy bears and is excited to deliver the first batch to young patients. When Tamika arrives at the hospital, she learns that she has more bears than she needs. Which of the following would likely explain this?

A company decides to introduce a line of golf gear designed specifically for women. What environmental trend is the company responding to?

Penelope's Pizza also wants to be at the forefront of current trends and changes in the practice of advertising. The account manager wants to focus on consumer generated advertising via YouTube, Twitter, and Facebook, whereas the CEO prefers to focus on mainstream media. Which of the following, if True, would support the position of the account manager?

What results when companies extend their horizons and identify opportunities outside existing product lines?

Marketing managers often support the activities of political action committees (PACs). In doing this, which environment are they attempting to influence?

LiveLong Company provides volunteer participants with new products to try and then asks them to share the information with their friends, family, coworkers, and others in their social network. What is this type of marketing called?

Marketing consists primarily of advertising a product or service.

Why is product placement important?

The formula for value is benefits divided by costs.

What do consumers exhibit when they regularly purchase products because they are satisfied with the products' performance?