I encourage inventors to spend at least 15% of their time analyzing pick] competitors' products. 2. Marketing expertise is gained I only through careful study of relevant marketing success stories. I by even the average person, who has a great deal of shopping experience. Study of product failures. I I [pick] I typically through a comprehensive Lonny by large firms with many years of experience; it is practically impossible for entrepreneurial Companies to achieve it. Startup I I [pick] I most often by mentoring from experienced marketing professionals. 3.
Beet's sorority volunteers to paint graffiti on downtown fences. She spent last Saturday helping out, and felt satisfied because she was contributing to her community. Was this an exchange? I [pick] I Yes, because the sorority promotes itself as being charitable. I Yes, because painting the fences was exchanged for something of value-?a feeling of satisfaction. I I [pick] I No, because the sorority is a nonprofit organization. I I [pick] I No, because no money was exchanged. I I [pick] I No, because Beth did not receive a tangible product, such as a "thank you" gift. 4.
A friend gave you the name of a company, Batteries Plus, where you could inexpensively purchase a new power cord for your laptop. However, when you called, no one answered the phone even though you called during business hours. Marketing did not occur because I [pick] Lou probably did not have a true need for the power cord. Store were too expensive for you to afford. Company has poor customer service. I there was no way for the parties to communicate. I the products sold at the I the I there is a lot of competition in the computer power cord segment. 5. Sound and Cinema is a company that will turn an ordinary basement into a home theater.
It advertises in publications that are mailed to homeowners in subdivisions here the least expensive home costs $550,000. These homeowners are the for Sound and Cinema. I [pick] I mass market I I [pick] I tangential market I I [pick] Market aggregation I I [pick] I target market I I [pick] I product grouping 6. Nettling can deliver movies to its customers in several ways: via streaming video over the Internet or via mail. These two methods would constitute which element of the marketing mix for Nettling? I [pick] I place I profit [pick] I process I promotion I physical environment 7.
Walter's can be described as "everyday low prices for a broad range of reduces that are always in stock in convenient locations. " I [pick] I form utility I I [pick] I possession utility I time utility I customer value proposition I I [pick] eliminating environment 8. The rising price of oil has increased the costs of transportation and thus the cost to deliver most manufactured goods. This is an example of which environmental force? I [pick] Social I regulatory I technological I competitive [pick] I economic 9. Which of the following statements is the primary reason that explains why U. S. Genuineness moved from the production era to the sales era? I [pick] I The population as moving away from urban to rural areas. I There were too many customers to serve. I I [pick] I Competition grew and the production of goods increased. I I [pick] I Advertising was becoming a major marketing force. I I [pick] I Technology was in a dormant stage. 10. When the Eastman Kodak Company concerns itself with disposal of its film packages in national parks by promoting the slogan "Take only pictures, leave only footprints," it is acting in accordance with I [pick] I the profit motive. I the societal marketing concept.
I customer value. I its regulatory environment. La moral imperative. Chapter 1 . Which of the following trends identified in an environmental scan is a social trend? I [pick] I Online data collection leading to behavioral targeting will grow dramatically. Option 1 I I [pick] I Microbreweries impact will increase through peer-to-peer websites. Option 2 International activity from Asia to Africa will grow as countries from these areas become sources of economic I I growth. Option 3 I There will be increasing regulatory guidance regarding green and environmental marketing claims.
Option 4 I Consumer purchase decisions are becoming more values-based and focused on improving the world. Option 5 2. Environmental scanning refers to I assessing any possible negative impact a firm's activities might have on the local ecology. I continually acquiring information on events occurring outside the organization to identify and interpret trends. I potential I setting up a regular schedule to assess the performance of different divisions within a firm. I initiating an internal talent search to identify employees who can think "outside the box" to generate solutions I I changes in the marketing environment.
Tit marketing problems caused by requiring all employees to spend time outside the office to avoid the "ivory tower" yeomen. 3. An important social trend is the continued concern for health and well-being in the United States. This is most likely evidenced by I [pick] I the increased sales of Cigar Aficionado magazine. I First Lady Michelle Beam's Let's Move! Initiative to eliminate childhood obesity. I the opening of more Struck coffee boutiques in supermarkets. I the upswing of menu items at fast food restaurants.
I the introduction of tablet devices such as the pad. 4. The country expected to have the largest population in 2050 is India United States China Russia Brazil 5. Culture refers to the l[pick] I [pick] I moral and ethical beliefs of a family passed down from generation to generation. Option 1 Set of values, ideas, and attitudes that are learned and shared among the members of a group. Option 2 pastimes associated with the fine arts, such as ballet, music, and theater. Option 3 I I [pick] I standard or pattern of behaviors that is typical or expected of a group.
Option 4 Description of a population according to selected characteristics such as age, gender, ethnicity, income, and I occupation. Option 5 6. All of the following are commonly held values in the United States EXCEPT: I [pick] I equality. Individualism. Life in fate. Continuous change. I personal control. 7. The term that pertains to the income, expenditures, and resources that affect the cost of running a business or household is referred to as (the) banking economy finances budgeting money management 8. The economy refers to I the independent financial factors that are not affected by changes in government spending.
Option 1 I the purchase of the highest quality product for the lowest possible price. Option 2 the production, distribution, and consumption of products, services, and ideas by households. Option 3 I the income, expenditures, and resources that effect the cost of running a business and household. Option 4 forces within a manufacturer's control that affect the demand and supply its offerings. Option 5 9. In a(n) economy, the cost to produce and buy products and services escalates as prices increase. I [pick] I inflationary I expansionary I deflationary I [Pick] I recessionary I depressive 10.
A time of declining economic activity when businesses decrease production, unemployment rises, and many consumers have less money to spend is referred to as l[pick] I deflation. I inflation. [pick] I prosperity. La recession. La depression. 1 1 . Gross income refers to I the money that remains after paying for taxes and necessities. I the money deducted from a person's paycheck to pay for federal, state, and local taxes. I the money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and I transportation. He total amount of money made by a single individual in his or her lifetime. I the total amount of money made in one year by a person, household, or family unit. 12. In 1970, the typical U. S. Household earned about $8,700. In 2010, the typical U. S. Household earned about $49,445. If adjusted for inflation, the gross income of the happily U. S. Household in 2010 relative to 1970 has dramatically increased somewhat I remained relatively stable I decreased somewhat I decreased dramatically ; I[Pick] I increased 13.
Income used to buy luxury items such as a Canard cruise is referred to as . I [pick] I gross income Disposable income Surplus income I wealth income I discretionary income 14. Carl and Nancy Johnson prepared a household budget in an attempt to manage their money better. As part of their budgeting process, Carl and Nancy prepared the following list: Monthly Income (after taxes) = $4,500; Monthly Expenses (Necessities), which include Rent: $550, Auto Loan: $250, Student Loan: $200, Savings: $500, Food: $200; Total Monthly Expenses = $1,700; Amount Left Over = $2,800.
After totaling their necessary expenses, which equals $1,700, Carl and Nancy subtracted that amount from their monthly income of $4,500. The Johnson were happy to realize that they had $2,800 left over, which is their I personal income I disposable income 15. Last year, the Parker family used to eat at nice restaurants almost four times a week. Even though Mr.. Parker received a 2 percent raise, the cost of living rose by 4 percent and property taxes went up in their area. As a result, the family now eats most of their meals at home, dining out only a few times a month.
This reflects I [pick] la decrease in the number of fine restaurants that can stay in business during times of economical downturn. La reaction to a loss of discretionary income. La significant drop in disposable income since there was a negative gain in income. La rise in deflation. La shift from spending to investing. Chapter 4 1. If you are thinking about buying a new television, which of these would be considered a public source of information for an external search? I [pick] Ian Internet pop-up ad he U. S. Consumer Product Safety Commission la salesperson at Best Buy I I [pick] I your older brother I Sonny's website 2.
For the purchase of a smartened, Consumer Reports expects that many consumers use price, display, web browsing, and battery life as tests products on these dimensions. I [pick] I value attributes since it I the consideration set la cognitive cluster Selective features I evaluative criteria 3. Satisfaction or dissatisfaction affects consumer communications; while the satisfied buyer typically tells about three other people about her experience, the dissatisfied buyer I [pick] I usually tells no one except the company. I tells only one or two.
I is often too embarrassed about the situation to tell anyone. I is likely to complain to about nine people. I is very unpredictable but often attempts to tell as many people as possible during a confrontation. 4. In routine problem solving, the number of external information sources used is typically which of the following? I [pick] I none I one la few I many there is wide variation 5. The market leader for a(n) product must make special efforts to avoid stockpot situations so that buyers don't substitute a competing brand. I [pick] additional low-involvement I complex expensive calculators 6.
Which of the following is a psychological influence on the consumer behavior decision process? I [pick] I culture I temporal effects I reference groups I lifestyle 7. An energy drink company is interested in advertising during a made-for-television movie using subliminal advertising in which logo images are shown only very briefly, for periods of Just several milliseconds at a time. Which of the following is the strongest argument against such a marketing tactic? I [pick] I Evidence suggests that such messages have limited effects on behavior.