The term marketing refers to:

The term marketing refers to:1)new product concepts and improvements2)selling3)advertising and promotion activities4)a philosophy that stresses customer satisfaction5)planning sales campaignsSaveQuestion 2 (2 points) _____ is a philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction.1)Planning strategy2)Customer management3)Marketing4)A control system5)ReciprocitySaveQuestion 3 (2 points) _____ is a key ingredient in the philosophy of marketing; it occurs when people give up something in order to receive something that they would rather have.1)Exchange2)Synergy3)Transformation4)Leveraging5)ReciprocitySaveQuestion 4 (2 points) A problem facing the timber industry is the absence of any effective way to prove that rainforest timber was legally harvested. In places like Indonesia, as much as 80 percent of timber available for sale was illegally cut. Companies like The Home Depot do not want to sell timber from illegally logged forests even though the demand is great for timber from rainforests. Which of the following conditions required for an exchange to occur is missing when a company tries to sell illegally acquired logs to The Home Depot?1)There are more than two parties involved.2)Each party has something of value to bring to the exchange.3)One party is free to accept the exchange offer.4)Each party believes it is appropriate to deal with the other party.5)Nobody sees the exchange as producing value.SaveQuestion 5 (2 points) Indonesian logging companies harvest the rainforests for timber and assume that a market exists for their products. The typical Indonesian logging company has a(n) _____ orientation.1)exchange2)product3)production4)sales5)environmentalSaveQuestion 6 (2 points) A company that sets its goals and strategies based on what its current equipment can produce, what products engineering can design, and what the company itself can do best, has a(n) _____ orientation.1)marketplace2)sales3)market4)exchange5)productionSaveQuestion 7 (2 points) A town of 50,000 has two maternity hospitals. A billboard for one of the hospitals reads, "We have the most modern delivery rooms," and indicates a _____ orientation. A billboard for the other hospital reads, "We love babies," and indicates a _____ orientation.1)sales; production2)product; customer3)market; sales4)customer; production5)production; marketSaveQuestion 8 (2 points) The _____ orientation assumes people will buy more if aggressive selling techniques are used.1)market2)sales3)customer4)production5)exchangeSaveQuestion 9 (2 points) Fujifilm Computer Products has improved the efficiency and productivity of its plant, which manufactures printing technology. For the new fiscal year, the company projects a production increase of 25 percent. It has instructed its sales force to aggressively distribute and promote its printers. The CEO is sure the market will absorb more product if the sales force is determined and assertive. Fujifilm appears to have a _____ orientation.1)market2)production3)sales4)customer5)marketplaceSaveQuestion 10 (2 points) A company that has a market orientation and adheres to the marketing concept does NOT:1)integrate all the activities of the firm to satisfy customer wants2)focus on consumer needs and wants3)differentiate the firm's products from its competitor's products4)fuel sales growth through the application of aggressive sales techniques5)concentrate on long-term goal achievement (such as profits and growth) for the firmSaveQuestion 11 (2 points) The manufacturer of Omega brand watches has a market orientation and adheres to the marketing concept. Which of the following describes the first action the company would most likely take if it learned its customers were dissatisfied with its watches?1)hire more salespeople2)decrease its organizational overhead3)increase its advertising to underserved markets4)increase the number of jewelry stores that carry Omega watches5)conduct research to determine if its customers' needs have changedSaveQuestion 12 (2 points) The marketing concept stresses that the social and economic justification for an organization's existence is the satisfaction of customer needs and wants while:1)producing a good or service at the lowest possible cost2)improving the general standard of living3)constantly increasing sales volumes4)applying scientific management techniques to improve efficiency5)simultaneously meeting organization objectivesSaveQuestion 13 (2 points) Compaq Computer's decision to charge customers for phone technical support to defray the high cost of phone support and encourage customers to read documentation was a failure because consumers like the human touch. Customer rebellion forced Compaq to rethink this policy. As a result, Compaq decided to focus its resources on reaching the inexpensive home computer market segment through enhanced customer service. This company engaged in:1)benchmarking2)tactical resource realignment3)alternative selection4)portfolio evaluation5)strategic planningSaveQuestion 14 (2 points) Strategic plans require:1)long-term resource commitments2)a change in organizational structure3)the addition of new personnel4)new product development5)changes in pricesSaveQuestion 15 (2 points) Which of the following statements about a marketing plan is true?1)Marketing plans can exist as oral traditions.2)The marketing plan should be viewed as a series of sequential steps.3)All marketing plans have basically the same content.4)A marketing plan is created so an organization can meet its marketing objectives.5)All of the statements about a marketing plan are true.SaveQuestion 16 (2 points) Marketing plans should be written to do all of the following EXCEPT:1)compare actual and expected performance2)provide clearly stated activities3)create common goals for employees to work toward4)allow managers to enter the marketplace with an awareness of possibilities and problems5)control the elements of the external marketing environmentSaveQuestion 17 (2 points) In its stockholders' report, PepsiCo has a _____ that states "our business is to increase the value of our shareholder's investment. We do this through sales growth, cost controls and wise investment of resources. We believe our commercial success depends upon offering quality and value to our consumers and customers; providing products that are safe, wholesome, economically efficient and environmentally sound; and providing a fair return to our investors while adhering to the highest standards of integrity."1)marketing mix strategy2)quantifiable goal3)mission statement4)statement of economic potential5)market segmentation strategySaveQuestion 18 (2 points) Railroads often offer their customers a trucking service for local delivery or trailers for piggybacking loads to their final destination. Which of the following statements justifies the addition of these services to their strategic plans?1)Their mission statements reflect their belief that they are transportation companies, not just railroads.2)Local delivery has high market attractiveness.3)Diversification is needed to survive.4)New business units are needed to continue growth.5)Owning trucks is probably cheaper and easier than using a local carrier.SaveQuestion 19 (2 points) PPR, the French retail and luxury goods group, announced plans to sell its Printemps department store chain. PPR will continue to hold onto to its other _____, including Gucci, Yves St. Laurent, Balenciaga, Conforma, its furniture store chain, FAAC, its books and music chain, and La Redoute, a catalog retailer. (All of PPR's divisions are operated as independent businesses.)1)strategic business units2)strategic alliances3)transactional units4)synergistic divisions5)action programsSaveQuestion 20 (2 points) One of the divisions of Procter & Gamble (P&G) manufactures and markets health and beauty aids. It handles products like Olay lotions and Old Spice fragrances. This part of the business has its own accounting, engineering, manufacturing, and marketing departments, separate from the rest of the organization. This division also has its own mission statement, target markets, and planning committees. This segment of P&G would be termed a:1)product market niche2)diversified division3)heterogeneous element4)strategic alliance5)strategic business unitSaveQuestion 21 (2 points) General Electric has a security division that builds equipment for screening passenger luggage checked in at airports. This division is composed of InVision Technologies, which manufactures CT scanners, and Ion Track, which measures luggage for trace elements of drugs and explosives. GE's security division is an example of a(n):1)organizational level2)SWOT3)secure business unit4)business sales unit5)strategic business unitSaveQuestion 22 (2 points) In 2004, Giorgio Armani, the Italian fashion group, announced plans to launch a $1 billion international luxury hotel chain containing ten hotels and four resorts before the end of 2015. One of the major reasons for opening a hotel chain was an international trend toward luxury lifestyle consumerism. In terms of Armani's situation analysis, the trend toward luxury lifestyle consumerism would be an example of a(n):1)opportunity because it is part of Armani's external environment2)strength because it is part of Armani's external environment3)weakness because Armani cannot control the growth of the trend4)advantage because it gives Armani growth opportunities5)benefit because Armani's internal resources can be designed to make its external environmentSaveQuestion 23 (2 points) Carefully specified marketing objectives should NOT be used as a:1)method to appeal to all market segments2)method for developing standards to gauge performance3)motivational tool for those charged with achieving the objectives4)way to force executives to sharpen their critical thinking skills5)method of developing, implementing, and evaluating a consistent marketing planSaveQuestion 24 (2 points) All the following are environmental forces a Washington State fruit grower with both orchards and a packaging/shipping facility might consider when making marketing decisions. What factor is LEAST likely to impact its marketing decisions?1)working mothers who rely on their teenagers to do the family grocery shopping2)the increase in foreign shipments to the United States of a similar product3)changes in the state laws concerning pollution control, waste disposal, and use of pesticides4)inflation and interest rates5)the number of employees of a Florida fruit growerSaveQuestion 25 (2 points) The four components of the pyramid of corporate social responsibility are:1)sustainability, creativity, profit, and culture2)organizational culture, creativity imagery, economic performance, and objectivity3)organizational, financial, social, and cultural responsibilities4)sustainability, legality, creativity, and competition5)economic, legal, ethical, and philanthropic responsibilitiesSaveQuestion 26 (2 points) Which of the following factors does NOT tend to influence ethical decision making and judgments?1)probability of a harmful outcome2)length of time between decision and the onset of consequences3)level of multiculturalism4)number of people to be affected5)potential magnitude of the consequencesSaveQuestion 27 (2 points) Marketing managers cannot control _____, but they can at times influence it.1)where advertising is placed2)the external environment3)the sales force4)the distribution strategy5)how products are pricedSaveQuestion 28 (2 points) In Asia, Procter & Gamble (P&G) discovered consumers like to experiment with different brands of shampoos, so most shoppers shy away from the family-size bottles so popular with Americans. Now most of the shampoo the company sells in the Far East is packaged in single-use sachets. P&G responded to _____ factors when it changed its Asian packaging.1)demographic2)competitive3)technological4)social5)component lifestyleSaveQuestion 29 (2 points) China's new 5 percent tax on disposable wooden chopsticks, reflecting concerns about deforestation, has been praised by environmentalists. The move is hitting hard at the Japanese who consumer 25 billion sets of wooden chopsticks annually. Almost all of the chopsticks used in Japan come from China. The price of wooden chopsticks in Japan has increased by almost 50 percent. Due to _____ factors, the Japanese will not use reusable plastic chopsticks when they eat out at restaurants.1)social2)economic3)legal4)demographic5)technologicalSaveQuestion 30 (2 points) Which of the following events has had a greater effect on marketing than any other social change?1)the growing number of one-child families2)the increasing number of immigrants from Northern Europe3)the growing number of people on the Internet4)the increasing number of working women5)the growing number of people of retirement age who are continuing workSaveQuestion 31 (2 points) Carissa Ty designs and sells clothes for young working women. She has recently been told that unless she starts designing more to suit the style of the Gen Y market, she is likely to be in financial trouble soon. Why would someone tell her that?1)Gen Yers don't have a style that they prefer.2)Gen Yers are more multicultural.3)Baby boomers provide all of the disposable income for Gen Y members.4)Demographically, Gen Yers are an extremely large group of consumers.5)Gen Yers are easily swayed by traditional promotion media.SaveQuestion 32 (2 points) The higher your _____, the higher your purchasing power:1)gross income2)social class3)disposable income4)cost of living5)inflation indexSaveQuestion 33 (2 points) A period of economic activity when income, production, and employment tend to fall, reducing overall demand, is called:1)stagnation2)an inflation3)a recession4)price escalation5)a depressionSaveQuestion 34 (2 points) Scientists are researching the possibility of computer-aided telekinesis with the idea that some day your brain will be linked with a computer, similar to the brain-plug interfaces used in the movie The Matrix. This is an example of _____ because scientists are not engaged in solving any specific, pragmatic problem.1)technological diversity2)transactional creativity3)applied research4)transformational research5)basic researchSaveQuestion 35 (2 points) In the future, electrical power may come from quantum nucleonics, a form of nuclear power that produces no residual radiation. The ability to use this form of power will require equipment adaptations, but it will solve the world's need for clean and efficient power. When quantum nucleonics is developed, it will be an example of how _____ factors can affect an organization.1)technological2)competitive3)economic4)cultural5)demographicSaveQuestion 36 (2 points) The _____ Act requires large companies to notify the government of their intent to merge.1)Hart-Scott-Rodino2)Sherman3)Celler-Kefauver Antimerger4)Robinson-Patman5)LanhamSaveQuestion 37 (2 points) The _____ is an agency that prevents the use of unfair methods of competition in commerce.1)Federal Communications Commission2)Commerce Department3)Commission for Fair Trade4)Federal Trade Commission5)Sherman Antitrust AgencySaveQuestion 38 (2 points) The _____ is the federal government agency charged with enforcing regulations against selling and distributing adulterated, misbranded, or hazardous products of a specific type.1)Federal Trade Commission2)Consumer Product Protection Commission3)U.S. Justice Department4)Food and Drug Administration5)American Safety LeagueSaveQuestion 39 (2 points) When developing countries began encouraging foreign investors and imports, companies like Black & Decker and Pillsbury offered a wide array of products to countries throughout the world. Because of enormous populations in developing countries, these companies predicted a potential for strong annual sales. However, in addition to total population, companies must not overlook _____ factors such as distribution of people within a country and household incomes.1)demographic2)political3)cultural4)educational5)country resourceSaveQuestion 40 (2 points) _____ is a legal process whereby a firm agrees to let another firm use its manufacturing process, trademarks, patents, trade secrets, or other proprietary knowledge in return for a fee or royalty.1)A joint venture2)Divestment3)Licensing4)A principal-agent agreement5)A contract manufacturing arrangementSaveQuestion 41 (2 points) Delta Galil Industries Ltd is a clothing manufacturer based in Israel. It is responsible for making clothing sold under the Playtex brand, Donna Karan/DKNY brand, Hugo Boss brand, and Calvin Klein brand. When one company manufactures clothing that is sold using another company's brand, _____ has occurred.1)countertrading2)joint venturing3)crossdocking4)contract manufacturing5)direct investingSaveQuestion 42 (2 points) Nortel (headquartered in Canada) and Huawei Technologies, Ltd.(headquartered in China) announced they will establish an alliance for developing ultra broadband access solutions for markets around the world. The new company will combine Huawei's market-leading broadband access solutions with Nortel's voice and broadband networking technologies to create a new product designed to be a leader in the industry in value and performance. Another name for this alliance is:1)contract manufacturing2)a trade bypass3)licensing4)a joint venture5)service exportingSaveQuestion 43 (2 points) A deodorant manufacturer wants to expand its marketing in Southeast Asia, but it has found research that shows fewer than 10 percent of people in those countries use deodorant daily. Assuming this information is true, the deodorant manufacturer would be LEAST likely to use which of the following marketing mix strategies?1)countertrading2)product invention3)global market standardization4)product licensing5)product adaptationSaveQuestion 44 (2 points) Maybelline formulated cosmetics that were designed to complement the complexions of women with various skin types around the world. Which of the marketing mix strategies did Maybelline use?1)countertrading2)product invention3)global market standardization4)product licensing5)product adaptationSaveQuestion 45 (2 points) Nigeria has about 2,200 miles of railroad, but years of neglect of both the rolling stock and the right-of-way have seriously reduced the capacity to use the system. In part as the result of the failure of the railroad system, many of its 120,000 miles of roads are also barely usable. From this information, you know that:1)its physical infrastructure is inadequate2)its technological development is faster than other developing nations due to need3)its government's structure is shaped by political policies such as quotas and exchange controls4)the types of retail outlets found in Nigeria vary widely5)foreign companies entering the Nigerian market find distribution to be the easiest element of the marketing mix to implementSaveQuestion 46 (2 points) Japanese consumers have experienced more than a decade of recession and deflationary pressures. This condition would most likely impact the Japanese consumers':1)purchasing power2)salary elasticity3)GNP4)profitability5)exchange ratesSaveQuestion 47 (2 points) In a newspaper release, Corning, Inc. announced it had received a favorable ruling from China's Ministry of Commerce on allegations that it was selling its fiber more cheaply in China than in other countries. Corning was falsely accused of:1)dumping2)offloading3)boycotting4)repatriating5)crossdockingSaveQuestion 48 (2 points) Refer to Computer Sales. Dell's decision to market PCs by phone in Japan mirrors its marketing strategy in the United States. This suggests Dell believes in the concept of:1)cultural marketing2)global marketing standardization3)traditional marketing concepts4)combination marketing5)product extensionSaveQuestion 49 (2 points) Refer to Breathe Right. The same Breathe Right nasal strip you can buy in any pharmacy in the United States can also be purchased in 40 other countries. CNS used a _____ strategy.1)mass marketing2)product invention3)market substitution4)product adaptation5)global market standardization