Marketing

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The focal point of all marketing activities is

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customers

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A target market

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is a specific group of customers on whom a company focuses its marketing efforts

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Polaroid is aiming its Cool Cam Camera at children of baby boomers.These children represent Polaroid's

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Target market

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Kix cereal is aimed at mothers with children under age twelve.These mothers represent Kix's

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target market

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The marketing mix

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includes product, distribution,promotion, and pricing decisions.

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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
e-repair services

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b-consumer perception of the product price

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Marketing managers strive to develop a marketing mix that

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matches the needs of the target market

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A physical product you can touch is a

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good

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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

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ideas

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Marketers often speak of the "controllable" variables in the practice of marketing.Which of the following is not considered one of the controlled variables?
a-product
b-price
c-distribution
d-competition
e-promotion

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d-competition

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Barbara Dooley own and operates a hair-styling salon.Barbara says she would like to do more advertising but finds it difficult to develop advertising messages for an intangible product like hers. Barbara's product would be classified as a

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service

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A change in CoreCom's strategy from selling computers via direct mail to selling them in office supply stores is a change in

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distribution

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Consumers buying products online have dramatically affected the _________ variabel of the marketing mix.

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distribution

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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

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b-promotion

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When DataComp Corp., a producer of computer software, delayed the introduction of its new spreadsheet program to modify the package, it scheduled magazine 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.

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product; promotion

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When Burger King offers 99-cent Whoppers to increase store traffic, it is altering which aspect of the marketing mix?

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price

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The concept of "exchange" is fundamental to the definition of marketing. What is the best description of exchange?

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provision or transfer of goods, services, or ideas in return for something of value

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For an exchange to occur, four conditions must exist: first, two or more individuals, groups, or organizations must participate, and each must possess "something of value" that the other desires; second, the exchange must provide a benefit or satisfaction to both parties; third, each must have confidence in the promise of the "something of value" held by the other; and fourth,

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to build trust, parties to the exchange must meet expectations

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Mark goes to a vending machine, deposits 75 cents, and receives a Sprite. What aspect of the definition of marketing is illustrated here?

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Exchange

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T or F Marketing environment forces fluctuate slowly and thereby create threats to a firm's marketing mix.

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False

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

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satisfaction for both the buyer and seller

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Marketing efforts are designed to

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facilitate satisfying exchange relationships

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The forces of a marketing environment inlude

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political, legal and regulatory, sociocultural, technological, economic, and competitive.

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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.

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marketing environment

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A change in the mimimum drinking age in any given state illustrates a change in the _______ for Miller Brewing?

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marketing environment

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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

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the marketing environment

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The marketing environment is best described as being

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dynamic and changing

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The marketing concept is best defined as

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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.

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Accourding to the marketing concept, an organization should try to

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provide products that satisfy customers' needs and allow the organization to achieve its goals.

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The marketing concept is a management philosophy that affects

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all efforts of the organization

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Managers at the Littrle field Corp. are engaged in a complex process of revising their organization's mission and goals and developing corporate strategy, marketing objectives, marketing strategy and, eventually, a marketing plan.This process is called

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strategic planning

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The use of cross-functional teams for marketing decision making

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reduces organizational conflict

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Identifying and analyzing a target market and developing a marketing mix to satisfy individuals in that market are essential elements of which of the following part of strategic planning?

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Developing a marketing strategy

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Smith's Food stores is involved in identifying and analyzing a target market.The firm then develops a marketing mix to satisfy individuals in the market to gain long-term competitive advantages.Based on this example, Smith's is creating a

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marketing strategy

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The formulate a marketing strategy, one must

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identify and analyze a target market and develop a marketing mix to satisfy individuals in that market

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The marketing plan is

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a written document detailing activities to be performed to implement and control

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Jones,Inc.,is preparing a written document specifying the activities to be performed to implement and control its marketing activities. This document is called the

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marketing plan

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The strategic planning process begins with

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Analysis of the marketing environment

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A ____ is something that an organization does extremely well and may give a company an advantage over its competition.

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core competency

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The reputation and well-known brand name of Rolex watches represent a ____ for Rolex.

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core competency

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A market opportunity results from

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the right combination of circumstances and timing that permit an organization to take action to reach a particular target market.

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When the right combination of circumstances occurs at the right time to allow an organization to take action toward a target market, the firm is faced with a

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market opportunity

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Realizing that consumers have begun to seek safer automobiles, Daimler-Chrysler heavily promotes its passenger-side air bags to captitalize on this while the strategic window is open.

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market opportunity

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After determining that consumers had concerns about fat and cholesterol, US Pizza began offering a low-fat vegetable pizza.The creation of this new product was the result of

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a strategic window

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A strategic window is

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a temporary period of optimum fit between the key requirements of a market and the particular capabilities of a firm competing in that market.

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A competitive advantage exists when a

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firm matches a core competency to opportunities it has discovered in the marketplace.

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A ______ is created when a company matches its core competency to opportunities it has discovered in the marketplace.

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competitive advantage

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Microsoft's marketing, technical skills, and continuing investment in improving its Windows OS give it a(n) ______ because it makes computers easier to use.

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competitive advantage

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A long-term view, or vision, of what the organization wants to become is called a

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mission statement

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The questions of "Who are our customers?" and "What is our core competency?" are answered in the firm's

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mission statement

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What should be a starting point for a firm's planning efforts?

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Company's mission and overall organizational goals

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Should the mission statement benefit the XYZ corp by providing a detailed plan for implementation

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no

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An organization's business goals should be derived from its

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mission statement

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T or F Strategic planning begins at the marketing level and proceeds through business-unit and corporate levels.

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False

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Resource deployment and coordination of functional areas of business are determined by

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corporate strategy

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_________ strategy determines the means for utilizing resources in the functional areas of marketing, production, finance, research and development, and human resources to achieve the organization's goals.

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Corporate

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Within a business organization, a profit center that is self-supporting in terms of sales, markets, production, and other resources is known as a

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strategic business unit

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Kraft purchased the Duracell Battery company and now operates this division as a separate profit center within the firm. In this example, Duracell is a(n) ____ unit of Kraft.

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strategic business

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A division or other profit center within a parent company is known as a(n)

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strategic business unit

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Dell Computer collects information about a wide variety of competitive, economic, political, legal and regulatory, technological, and sociocultural forces that affect its marketing activities. This process is called

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environmental scanning

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Environmental scanning means ______ information about the marketing enviroment, whereas environmental analysis is concerned with ______ this information.

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collecting; assessing

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When PepsiCo takes the information collected through research and attempts to assess and interpret what it means for its soft-drink marketing efforts, PepsiCo is engaged in environmental

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analysis.

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Nabisco learned that health-conscious consumers preferred lower fat snack foods. At the same time, the firm saw sales of such products slumping and was careful not to launch any new varieties of these products for a while. What would best describe Nabisco's action?

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Environmental analysis

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After Compaq Computer gathers information related to its marketing environment, it attempts to define current environmental changes and predict future changes. This determines possible opportunities and threats facing the company. It illustrate the process that is called

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environmental analysis.

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Daimler-Chrysler has developed aluminum car bodies that are 100 percent recycable and light enough to help conserve fuel. What kind of response is this to environmental foces?

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Proactive

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Marketers who view political forces as being beyond their control are taking a _____ response toward these forces.

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reactive

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The textbook suggests that the best approach a firm can take in responding to marketing environmental forces is

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varible

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Companies that market products with similar features, benefits, and prices to the same customer group are known as _______ competitors.

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brand

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_________ competitors are those that compete in the same product class, but their products have different features, benefits, and prices.

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Product

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Which of the following is not at the generic competitor level for Ford's Expedition sport utility vehicle?
a- Saturn coupe
b- Enterprise car rental
c- Harley Davidson motorcycle
d- Schwinn mountain bike
e- taxi cab ride

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saturn coupe

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In today's marketing environment, competitors can take on many forms. For ex., Diet Coke can be seen as a competitor to Wrigley's chewing gum. In this circumstance, these two products are described as ______.

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total budget

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Due to limited resources, a consumer decided to serve Hawaiian Punch to a New Year's party crowd instead of Korbel champagne. As a result of this action, Korbel and Hawaiian Punch can be viewed as _________ competitors.

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generic

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Companies that compete for the same limited financial resources of the same customers are known as ________competitors.

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total budget

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_________ competitors are the most significant to marketers since buyers see the different products of these firms as direct substitutes for each other.

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Brand

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What type of copetitive structure exists when a firm produces a product that has no close substitutes?

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Monopoly

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The D-Lite Corp. produces a unique type of light bulb that is used in refrigerator manufacturing. D-Lite is the only maker of this light bulb and there are no close substitutes for it.In this case, the D-Lite Corp. would be

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a monopoly

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Which of the following firms would be most likley to have a monopoly for its competitive environment?
a- Sunset Cablevision
b- Roy Mitchel Trucking
c- Continental Airlines
d- Carl Rogers Plumbing
e- Chemlawn Lawn Care

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Sunset Cablevision

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Most marketers operate in a competitive environment of either

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oligopoly or monopolistic competition

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What type of competitive structure exists when just a few sellers control a large portion of the supply of a product?

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Oligopoly

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The tobacco industry in the US is dominated by three large companies. When any one of these companies changes its price on tobacco products, the other two companies quickly adjust their prices to match it. From these characteristics, the tobacco industry could best be described as

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an oligopoly

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J.Pitner Clothing is a medium-size specialty men's and women's clothing store in a market with many other specialty stores, department stores,and discounters.It has established a reputation for offering high-quality, fashionabe merchandise with quality service. J.Pitner's competitive environment would best be characterized as

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monopolistic competiton

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In general, which of the following competitive structures is an organization least likely to operate?
a- Monopoly
b- Monopolistic competition
c- Oligopoly
d- Elastic competition
e- Pure competition

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e- Pure competition

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Which of the following attributes of a Toyota Camery would be most appropriate to emphasize in television commercials during an economic recession?
a- Stereo system
b- Prestige
c- Durability
d- Leg room
e- Sporty design

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c- durability

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In a period of economic recovery, the best marketing strategy for FedEx would be characterized by which of the following features?
a- Flexibility
b- Aggressiveness
c- austeity
d- Retrenchment
e- Boldness

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a- Flexibility

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During which stage of the business cycle is unemployment low and total income relatively high?

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Prosperity

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Total buying power declines during periods of economic

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recession

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Although marketing theory supports the contrary, it is more probable that marketing budgets will be cut during periods of economic

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recession

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The strength of a person's "buying power" depend on economic conditions and

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size of resources that can be traded in an echange.