Deck 1: An Overview of Strategic Marketing

Question 1

Why is marketing important to businesses and to the economy?

Answer 1

Businesses must engage in marketing to survive and grow, and marketing activities are needed to reach customers and provide products. Financial resources generated from sales are necessary for the operations of a firm and to provide financial returns to investors. Innovation in operations and products drive business success and customer loyalty. Marketing activities help to produce the profits that are essential to the survival of individual businesses. Without profits, businesses would find it difficult, if not impossible, to buy more raw materials, hire more employees, attract more capital, and create additional products that, in turn, make more profits. Therefore, marketing helps create a successful economy and contributes to the well-being of society.

Question 2

Marketing is the process of

A)promoting products through personal selling and advertising to develop and maintain favorable relationships with customers and stakeholders.
B)creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment.
C)delivering a standard of living to a society.
D)creating, distributing, promoting, and pricing goods, services, and ideas to facilitate the achievement of the firm's objectives.
E)focusing on customers' needs.

Answer 2

B

Question 3

Define the term target market and provide an example for a product of your choice.

Answer 3

Organizations generally focus their marketing efforts on a specific group of customers called a target market. A target market is the group of customers toward which a company directs a set of marketing efforts.

Question 4

Discuss the evolution of the marketing concept through the various types of orientation.

Question 5

The focal point of all marketing activities is

A)products.
B)the marketing mix.
C)profits.
D)sales.
E)customers.

Question 6

What does it mean for a company to be marketing-oriented? What are the most important factors involved in being marketing-oriented?

Question 7

Discuss the concept of green marketing and why it is important to marketers.

Question 8

Define the term value, and explain how people determine a product's value.

Question 9

Describe the three different types of products.

Question 10

Explain why marketing efforts should be oriented toward creating and sustaining satisfying exchange relationships.

Question 11

What is meant by the term marketing concept, and what departments of a company does it affect?

Question 12

Suppose you are a marketing manager at Procter & Gamble for a new, all-purpose cleaning product. List four marketing mix variables and describe the decisions and activities associated with each.

Question 13

Describe several activities encompassed by the distribution variable.

Question 14

What is meant by the term relationship marketing? How does relationship marketing affect the customer?

Question 15

What are the three ways that marketing environment forces affect a marketer's ability to create satisfying exchange relationships?

Question 16

Organizations should define themselves not according to the products they produce but according to

A)how profitable they are.
B)the price of their stock.
C)the abundance of their product selection.
D)how they treat employees.
E)how they satisfy customers.

Question 17

The definition of marketing implies that ____ should receive benefits from exchange relationships.

A)only customers
B)only businesses
C)company management
D)both customers and businesses
E)only the most important customers

Question 18

A target market

A)involves a large number of customers.
B)is a specific group of customers on whom an organization focuses its marketing efforts.
C)already has several competitors vying for customers' business.
D)is the same as a salesperson's prospective client list.
E)is a customer group classified as people with similar demographic characteristics.

Question 19

The primary value that a marketer expects to receive from a customer in an exchange relationship is

A)the price charged for the product.
B)customer satisfaction.
C)references to other potential customers.
D)quality merchandise that meets expectations.
E)few returns of the merchandise purchased.

Question 20

Explain why a knowledge of marketing is beneficial for all students.

Question 21

The three basic forms that a product can take are

A)markets, products, and images.
B)goods, ideas, and intangibles.
C)brands, services, and tangibles.
D)services, ideas, and goods.
E)ideas, services, and things.

Question 22

Changing the hours of operation for a service business involves the ____ component of the marketing mix.

A)product
B)price
C)distribution
D)promotion
E)marketing concept

Question 23

Making modifications to packaging or brand names involves the ____ component of the marketing mix.

A)price
B)promotion
C)market
D)distribution
E)product

Question 24

A commercial for the drink SunnyD explains how nutritious it is in comparison to other, more "sugary" drinks. While children under 12 are the most likely consumers of SunnyD, the commercial is aimed at mothers. These mothers represent SunnyD's

A)target market.
B)consumer advocates.
C)marketing strategy.
D)marketing mix.
E)marketing tactic.

Question 25

Distribution, price, promotion, and product are all elements of

A)marketing strategy.
B)the marketing mix.
C)a target market.
D)a consumer good.
E)a business strategy.

Question 26

Consumers buying products online have dramatically affected the ____ variable of the marketing mix.

A)product
B)price
C)distribution
D)research
E)promotion

Question 27

A marketing manager decides what combination of variables is needed to satisfy customers' needs for a general type of product. What are the essential variables that the marketing manager combines?

A)Product, price, distribution, and promotion variables
B)Marketing environment variables
C)Product and promotion variables
D)Product, price, and customer variables
E)Product, price, customer, and promotion variables

Question 28

A physical product you can touch is a(n)

A)service.
B)good.
C)idea.
D)concept.
E)philosophy.

Question 29

Rob Donaldson runs a successful wholesale business that sells equipment to restaurants throughout the Midwest. He is considering purchasing his own fleet of trucks to deliver the equipment instead of relying on a shipper as he is currently doing. This most closely represents a decision about

A)which market he should target.
B)the best way to distribute his products.
C)how to effectively promote his business.
D)the product he provides to his customer.
E)which supplier he should use.

Question 30

The application of mechanical and human efforts to either people or objects to provide intangible benefits to customers is known as a(n)

A)issue.
B)experience.
C)idea.
D)good.
E)service.

Question 31

Issues of inventory levels and storage costs are both concerns relating to the ____ variable of the marketing mix.

A)distribution
B)product
C)exchange
D)price
E)promotion

Question 32

The Church of the Latter Day Saints has used advertising for many years, airing a commercial TV spot that shows parents actively playing games with their children. The Church is using marketing to promote its

A)goods.
B)services.
C)experiences.
D)production.
E)ideas.

Question 33

Which of the following is most likely to be an idea marketer?

A)Car salesperson
B)Airline pilot
C)Attorney
D)Abuse counselor
E)Orthodontist

Question 34

Marketing managers strive to develop a marketing mix that

A)minimizes marketing costs.
B)matches what competitors are offering.
C)best matches the abilities of the firm.
D)matches the needs of the target market.
E)generates the highest level sales.

Question 35

Which of the following companies is the best example of a service marketer?

A)FedEx
B)Sony
C)Abercrombie & Fitch
D)The Democratic Party
E)General Electric

Question 36

The marketing mix is built around the

A)product.
B)company.
C)customer.
D)employee.
E)retail outlet.

Question 37

Deciding to add gel insoles to its running shoes would be a change in the ____ element of the marketing mix for Nike.

A)price
B)good
C)product
D)promotion
E)distribution

Question 38

Mothers Against Drunk Driving (MADD) is a group that works to change attitudes and laws about driving under the influence of alcohol. MADD primarily markets

A)goods.
B)ideas.
C)services.
D)political figures.
E)applications.

Question 39

The product variable of the marketing mix can include all of the following except

A)creation of brand names.
B)consumer perception of the product price.
C)development of product packaging.
D)warranty issues.
E)repair services.

Question 40

Kashi Heart to Heart cereal is aimed at people concerned about their heart health. These people represent the Kashi

A)marketing mix.
B)marketing strategy.
C)target market.
D)marketing tactic.
E)consumer advocates.

Question 41

The element of the marketing mix used to increase awareness of a product or company is

A)communication.
B)product.
C)price.
D)distribution.
E)promotion.

Question 42

The marketing concept focuses on

A)achieving the goals of top executives.
B)creating maximum visibility for the firm.
C)maximizing sales in a way that helps to achieve organizational objectives.
D)maximizing market share in a way that helps to achieve organizational objectives.
E)satisfying customers' needs in a way that helps to achieve organizational objectives.

Question 43

Which of the following statements about marketing environment forces is correct?

A)They influence customers by affecting their lifestyles, standards of living, and preferences and needs for products.
B)They do not influence customers' reactions to a firm's marketing mix.
C)They fluctuate slowly and thereby create threats to a firm's marketing mix.
D)They never fluctuate quickly.
E)They do not influence the way a marketing manager performs certain marketing activities.

Question 44

When DataComp Corp., a producer of software, delayed the introduction of its new spreadsheet app to modify the package, its scheduled TV advertisements announcing the new product needed to be revised. In this case, a change in the ____ variable caused changes in the ____ variable of the marketing mix.

A)distribution; promotion
B)distribution; product
C)product; price
D)product; promotion
E)promotion; price

Question 45

When DuPont develops new carpet fibers that are highly stain-resistant and durable, it must educate consumers about the product's benefits. This calls for activity in which of the following marketing mix variables?

A)Price
B)Promotion
C)Distribution
D)Product
E)Packaging

Question 46

Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship?

A)Profits for the seller
B)A good bargain on the product for the buyer
C)Reducing the seller's inventory
D)One party having to compromise in the exchange
E)Satisfaction for both the buyer and seller

Question 47

Which of the following best characterizes the forces of the marketing environment?

A)The forces are relatively stable over time and are interrelated with one another.
B)There are few overlapping aspects of these forces; therefore, a change in one is unlikely to result in a change in another.
C)The various forces ensure that the marketing environment will remain fairly certain in the future.
D)These forces change dramatically over time, but a change in one force is unlikely to impact another force.
E)The forces change dramatically and quickly, and a change in one force is likely to affect the other forces.

Question 48

The marketing concept is a management philosophy that affects

A)only marketing activities.
B)all efforts of the organization.
C)mainly the efforts of sales personnel.
D)mainly customer relations.
E)only business organizations.

Question 49

The marketing concept is best defined as

A)a second definition of marketing.
B)a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals.
C)the performance of business activities that direct the flow of goods and services from producer to customer or user.
D)a philosophy stating that an organization should attempt to accomplish its goals with no regard for the needs of customers.
E)the inclusion of marketing activities in the activities of an organization.

Question 50

A marketing manager for a small computer manufacturer is analyzing the potential effects of political, legal, sociocultural, and economic forces on the firm's operations. The marketing manager is examining the ____ that influence(s) the firm's strategy.

A)operating situation
B)marketing environment
C)surroundings
D)economic conditions
E)trends

Question 51

When Ikea showcases rooms of furniture on its website, it lists each item in the room. However, if customers like all of the items, they can purchase them as a bundle. Which of the following aspects of the marketing mix is Ikea likely altering?

A)Price
B)Promotion
C)Distribution
D)Product
E)Target market

Question 52

Which of the following scenarios involves the distribution element of the marketing mix?

A)Deciding whether or not a certain product should continue to be sold
B)Determining whether an advertising message would be more effective on television or in magazines
C)Choosing between a company jet or the airlines for executive travel
D)Deciding whether or not to have retail outlets in addition to a website
E)Developing a new warranty policy for an existing product

Question 53

The forces of the marketing environment primarily affect marketers in three ways: They influence customers by affecting their lifestyles and preferences for products; they determine whether or how a marketing manager can perform certain marketing activities; and they

A)affect a marketing manager's decisions and actions by influencing buyers' reactions to the firm's marketing mix.
B)dictate that changes be made to the existing marketing mix despite any negative reactions from customers.
C)make most new products obsolete very quickly so that research and development must continually develop new products.
D)cause most advertising to be ineffective at communicating product benefits due to rapidly changing environmental forces.
E)change a customer's decisions about the appropriate marketing mix for the company and its various products.

Question 54

Boca Burger's website features information about products, recipes, and nutritional values, but customers cannot actually purchase products from the website. This website is most likely used primarily as a ____ marketing tool.

A)promotional
B)distributional
C)pricing
D)targeting
E)production

Question 55

According to the marketing concept, an organization should try to

A)consider short-run objectives and cash flow needs before developing new products.
B)define its business as "making a product."
C)provide products that satisfy customers' needs and allow the organization to achieve its goals.
D)put most of its emphasis on marketing activities and be less concerned with finance, accounting, and personnel.
E)view selling activities as the major means of increasing profits.

Question 56

StarKist Tuna announced a dolphin-safe policy and stopped buying tuna from fishing vessels that net dolphins. This decision indicates a response to concerns about

A)target market selection.
B)the marketing environment.
C)the reduction of marketing costs.
D)marketing mix decisions.
E)efficiency in marketing activities.

Question 57

Which of the following is essentially an uncontrollable factor in developing a marketing mix?

A)Product adaptations
B)Pricing strategies
C)Government regulations
D)Advertising campaigns
E)Retail locations

Question 58

The marketing environment is best described as being

A)composed of controllable variables.
B)composed of variables independent of one another.
C)an indirect influence on the performance of marketing activities.
D)dynamic and changing.
E)slow, with infrequent fluctuations.

Question 59

A change in the minimum drinking age in any given state illustrates a change in the ____ for Miller Brewing.

A)marketing mix
B)marketing environment
C)marketing concept
D)marketing task
E)product concept

Question 60

The forces of the marketing environment include

A)political, legal and regulatory, sociocultural, technological, economic, and competitive.
B)sociocultural, legal, regulatory, economic, pricing strategies, and competitive.
C)legal, regulatory, political, sociocultural, pricing strategies, and technological.
D)legal and regulatory, competitive and noncompetitive forces that affect most lifestyles.
E)political, legal and regulatory, pricing strategies,fairly static components.

Question 61

Which of the following best describes the acceptance of the marketing concept by American organizations?

A)The marketing concept has yet to be fully accepted by all organizations.
B)All organizations fully utilize the marketing concept to run their businesses.
C)Nearly half of all organizations are still in the sales orientation and have not implemented the marketing concept.
D)Most organizations have really not accepted the marketing concept because of its many costs and problems.
E)Although American organizations fully accept the marketing concept, many foreign companies do not.

Question 62

The marketing concept affects

A)just the marketing department.
B)all organizational activities.
C)only marketing and finance.
D)only production and marketing.
E)few decisions in an organization.

Question 63

When Campbell's introduced a line of low-sodium soups in response to customer demand, it was following which one of the following philosophies?

A)Selling concept
B)Production concept
C)Customer concept
D)Marketing concept
E)Retailing concept

Question 64

The marketing concept is

A)a management philosophy.
B)synonymous with exchange.
C)a component of the marketing mix.
D)a function of the marketing environment.
E)focused solely on satisfying customer objectives.

Question 65

The marketing concept is a philosophy that states that an organization should try to satisfy customers' needs and also

A)increase market share.
B)increase sales.
C)achieve the organization's goals.
D)produce high-quality products.
E)coordinate its activities to increase production.

Question 66

​A market orientation is an organization-wide effort that includes all of the following activities except​

A)researching customers' needs.
B)focusing on the marketing department only.
C)generating marketing intelligence for use in the organization.
D)being responsive to customers' ever-changing wants and needs.
E)disseminating marketing intelligence across departments within the organization.

Question 67

From the 1920s to the 1950s, demand for manufactured goods decreased, leading to the ____ orientation.

A)production
B)market
C)revolutionary
D)sales
E)reduction

Question 68

Which one of the following statements by a company president best reflects the marketing concept?

A)We have organized our business to make certain that customers get what they want.
B)We believe that the marketing department must organize to sell what we produce.
C)We have organized an aggressive sales force in our company to promote our products.
D)We try to produce only high-quality, technically efficient products.
E)We try to encourage company growth.

Question 69

A junior marketing executive at MegaGrain Cereals suggests increasing the package size and price of its best-selling brand without increasing the amount of cereal inside the box. Her superior warns that this might be a bad idea because MegaGrain's long-term survival, like most companies, depends on

A)cost-cutting measures.
B)continually selling to new customers and markets.
C)creating and maintaining satisfying exchange relationships.
D)high-volume, low-margin sales.
E)increasing shelf space for their brands.

Question 70

The H&R Block company wants to adopt the marketing concept as a business philosophy. To be consistent with this decision, which of the following philosophies is most appropriate?

A)The customer is always right.
B)Making money is our business.
C)Sell, sell, sell.
D)Keep prices low.
E)Focus on today.

Question 71

Ben is responsible for managing the customer satisfaction of Hampton Inn motel guests. Ben is currently analyzing the customer relationship management (CRM) program at Hampton Inn and is contemplating where he should begin making changes. Which of the following would be the beginning of a CRM program, and therefore the area Ben should consider first?

A)communicating with current customers via Facebook.
B)offering new types of hotel rooms for frequent guests.
C)expanding the number and locations of Hampton Inns.
D)providing information to customers through the web, Facebook, or in person.
E)increasing the promotion budget with a new sweepstakes for frequent customers.

Question 72

In managing customer relationships, the three primary ways profits can be obtained are by

A)acquiring new customers, enhancing the profitability of new customers, and shortening the duration of relationships with existing customers.
B)enhancing the profitability of existing customers, eliminating customers who provide smaller profits, and finding new customers.
C)extending the length of relationships with customers, cutting organizational costs, and enhancing the profitability of new customers.
D)eliminating long-term customers who have decreased purchases, finding new customers, and increasing sales to existing customers.
E)enhancing the profitability of existing customers, extending the duration of relationships with customers, and obtaining new customers.

Question 73

Today, establishing long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through the creation of more satisfying exchanges is known as

A)marketing synthesis.
B)relationship marketing.
C)a marketing orientation.
D)the marketing concept.
E)strategic marketing.

Question 74

Health Care Systems, Inc. rolls out an innovative nurse-on-call information system available online. The product is not widely accepted because patients don't see the need for such a service. This situation represents a failure in which aspect of implementing the marketing concept?

A)An information system to determine customer needs
B)The organizational structure
C)Top-management commitment
D)Technological advancement
E)Scanning corporate capabilities

Question 75

Which of the following is not an example of the implementation of the marketing concept?

A)Jimmy Dean's Sausage introduces turkey sausage patties for a healthier alternative to pork.
B)Ford asks customers to vote online for a new color for next year's Ford Focus.
C)Burger King reduces the labor costs to produce its sausage-egg biscuits.
D)Microsoft offers rewards for users who can find flaws in its new software.
E)Volkswagen introduces pop-up rollover bars in its convertibles to protect its consumers in the event of a serious collision.

Question 76

​T-Mobile implements a program of texting its current customers to find out what changes they would like to see in the services provided. The firm is exhibiting characteristics associated with which of the following orientations?​

A)Production
B)Sales
C)Market
D)Social
E)Development

Question 77

During the Industrial Revolution demand for manufactured goods was

A)weak.
B)nonexistent.
C)declining.
D)strong.
E)mediocre.

Question 78

Wonder introduced a new bread made with light whole wheat and packaged in smaller loaves as a response to the number of health-conscious customers who live alone. In this case, Wonder was most likely following the ________.

A)selling concept
B)production concept
C)marketing concept
D)customer concept
E)retailing concept

Question 79

As the Industrial Revolution came to the United States, most firms operated in a(n) ____ orientation.

A)market
B)societal
C)sales
D)evolutionary
E)production

Question 80

U.S. Electric, the maker of a highly innovative xenon light bulb used in large, manufacturing facilities, finds that it has excess inventory. The firm increases its direct marketing budget by 20 percent and adds three new sales representatives. This company is operating as if it were in which of the following orientations?

A)Production
B)Sales
C)Market
D)Customer
E)Societal