3250 Midterm Pearson Questions (All) with verified solutions
The |first |step |of |the |marketing |process |involves |companies |working |to |____________. |- |correct
|answer |-gain |a |better |understanding |of |their |customers
_______ |are |the |form |human |needs |take |as |they |are |shaped |by |culture |and |individual |personality. |-
|correct |answer |-Wants
The |____________ |holds |that |achieving |organizational |goals |depends |on |knowing |the |needs |and
|wants |of |target |markets |and |delivering |the |desired |satisfactions |better |than |competitors |do. |-
|correct |answer |-Marketing |Concept
The |aim |of |_____________ |is |to |produce |high |customer |equity, |the |total |combined |customer
|lifetime |values |of |all |of |the |company's |customers. |- |correct |answer |-customer |relationship
|management
______________, |which |depends |on |the |product's |perceived |performance |relative |to |a |buyer's
|expectations, |is |an |important |factor |in |creating |customer |value |and |building |long-term |market
|relationships. |- |correct |answer |-Customer |Satisfaction
The |first |step |of |the |strategic |planning |process |is |to |identify |the |company's |________, |an |explicit
|statement |that |clearly |explains |the |organization's |purpose |and |what |it |seeks |to |accomplish. |-
|correct |answer |-mission
A |major |activity |in |strategic |planning |is |________ |analysis, |whereby |management |evaluates |the
|products |and |lines |of |business |that |make |up |the |company. |- |correct |answer |-business |portfolio
If |Apple |introduced |a |marketing |strategy |designed |to |encourage |new |groups—such |as |seniors—to
|visit |its |stores |for |the |first |time, |this |would |be |an |example |of |a |________ |growth |strategy. |-
|correct |answer |-marketing |development
Competition |no |longer |takes |place |only |between |individual |rivals. |Rather, |it |takes |place |between
|the |________ |networks |created |by |these |competitors. |- |correct |answer |-value |delivery
,________ |represents |the |marketing |logic |by |which |the |company |hopes |to |create |customer |value
|and |achieve |profitable, |mutually |beneficial |relationships. |- |correct |answer |-Marketing |strategy
Actors |close |to |the |firm |that |affect |its |ability |to |serve |its |customers, |such |as |suppliers, |marketing
|intermediaries, |and |competitors, |are |all |components |of |a |company's |______ |- |correct |answer |-
microenvironment
Significant |change |in |the |age |structure |of |a |population |is |one |example |of |the |impact |of |the |firm's
|________. |- |correct |answer |-macroenvironment
Following |the |Great |Recession, |U.S. |consumers |have |now |adopted |a |back-to-basics |sensibility |in
|their |lifestyles |and |spending |patterns |that |will |likely |persist |for |years |to |come. |Marketers |in |all
|industries, |in |turn, |are |looking |for |ways |to |offer |today's |more |financially |frugal |buyers |greater
|value, |an |approach |known |as |________. |- |correct |answer |-value |marketing
Companies |such |as |P&G, |Walmart, |and |Levi |Strauss |have |recognized |the |growing |________ |in |the
|U.S. |population |by |targeting |specially |designed |products, |ads, |and |promotions |to |appeal |to |one |or
|more |ethnic, |racial, |or |lifestyle-based |groups. |- |correct |answer |-diversity
To |exercise |their |social |responsibility |and |build |more |positive |images, |many |companies |are |now
|linking |themselves |to |worthwhile |charitable |organizations |and |social |issues, |a |practice |known |as
|________. |- |correct |answer |-cause-related |marketing
Satisfying |consumers' |immediate |needs |and |desires |may |not |always |serve |the |future |best |interests
|of |customers |or |the |business. |Therefore, |________ |calls |for |socially |and |environmentally
|responsible |actions |that |meet |both |the |immediate |and |future |needs |of |customers |and |the
|company. |- |correct |answer |-sustainable |marketing
Critics |charge |the |marketing |system |with |creating |________ |by |constantly |assaulting |our |senses
|with |television |and |radio |commercials, |marring |beautiful |scenery |with |billboards, |and |intruding |on
|our |online |browsing |with |flashing |display |ads. |- |correct |answer |-cultural |pollution
________ |is |an |organized |movement |of |citizens |and |government |agencies |to |improve |the |rights
|and |power |of |buyers |in |relation |to |sellers. |- |correct |answer |-consumerism
, Because |not |all |managers |have |fine |moral |sensitivity, |companies |need |to |develop |________
|policies—broad |guidelines |that |everyone |in |the |organization |must |follow. |- |correct |answer |-
marketing |ethics
The |American |Marketing |Association, |an |international |association |of |marketing |managers |and
|scholars, |developed |a |code |of |ethics |that |calls |on |marketers |to |adopt |the |following |ethical |norms:
|________, |foster |trust |in |the |marketing |system, |and |embrace |ethical |values. |- |correct |answer |-do
|no |harm
Marketing |intermediaries |help |the |company |promote, |sell, |and |distribute |its |products |to |final
|buyers. |_________ |are |not |marketing |intermediaries. |- |correct |answer |-Suppliers
Which |of |the |following |generations |is |the |most |educated |to |date? |- |correct |answer |-Generation |X
Marketers |target |Generation |Z |because |they |________.
A.dislike |technology
B.spent |an |estimated |$43 |billion |annually |of |their |own |money
C.listen |to |their |parents |and |follow |their |examples
D.prefer |shopping |in |brick-and-mortar |stores |with |actual |products
E.have |long |attention |spans |and |are |easily |targeted |- |correct |answer |-B.spent |an |estimated |$43
|billion |annually |of |their |own |money
Which |of |the |following |is |a |trend |that |depicts |the |increasingly |nontraditional |nature |of |today's
|American |families?
A.
the |sharply |declining |number |of |stay-at-home |dads
B.
the |decreasing |reliance |on |convenience |foods |and |services
C.
The |first |step |of |the |marketing |process |involves |companies |working |to |____________. |- |correct
|answer |-gain |a |better |understanding |of |their |customers
_______ |are |the |form |human |needs |take |as |they |are |shaped |by |culture |and |individual |personality. |-
|correct |answer |-Wants
The |____________ |holds |that |achieving |organizational |goals |depends |on |knowing |the |needs |and
|wants |of |target |markets |and |delivering |the |desired |satisfactions |better |than |competitors |do. |-
|correct |answer |-Marketing |Concept
The |aim |of |_____________ |is |to |produce |high |customer |equity, |the |total |combined |customer
|lifetime |values |of |all |of |the |company's |customers. |- |correct |answer |-customer |relationship
|management
______________, |which |depends |on |the |product's |perceived |performance |relative |to |a |buyer's
|expectations, |is |an |important |factor |in |creating |customer |value |and |building |long-term |market
|relationships. |- |correct |answer |-Customer |Satisfaction
The |first |step |of |the |strategic |planning |process |is |to |identify |the |company's |________, |an |explicit
|statement |that |clearly |explains |the |organization's |purpose |and |what |it |seeks |to |accomplish. |-
|correct |answer |-mission
A |major |activity |in |strategic |planning |is |________ |analysis, |whereby |management |evaluates |the
|products |and |lines |of |business |that |make |up |the |company. |- |correct |answer |-business |portfolio
If |Apple |introduced |a |marketing |strategy |designed |to |encourage |new |groups—such |as |seniors—to
|visit |its |stores |for |the |first |time, |this |would |be |an |example |of |a |________ |growth |strategy. |-
|correct |answer |-marketing |development
Competition |no |longer |takes |place |only |between |individual |rivals. |Rather, |it |takes |place |between
|the |________ |networks |created |by |these |competitors. |- |correct |answer |-value |delivery
,________ |represents |the |marketing |logic |by |which |the |company |hopes |to |create |customer |value
|and |achieve |profitable, |mutually |beneficial |relationships. |- |correct |answer |-Marketing |strategy
Actors |close |to |the |firm |that |affect |its |ability |to |serve |its |customers, |such |as |suppliers, |marketing
|intermediaries, |and |competitors, |are |all |components |of |a |company's |______ |- |correct |answer |-
microenvironment
Significant |change |in |the |age |structure |of |a |population |is |one |example |of |the |impact |of |the |firm's
|________. |- |correct |answer |-macroenvironment
Following |the |Great |Recession, |U.S. |consumers |have |now |adopted |a |back-to-basics |sensibility |in
|their |lifestyles |and |spending |patterns |that |will |likely |persist |for |years |to |come. |Marketers |in |all
|industries, |in |turn, |are |looking |for |ways |to |offer |today's |more |financially |frugal |buyers |greater
|value, |an |approach |known |as |________. |- |correct |answer |-value |marketing
Companies |such |as |P&G, |Walmart, |and |Levi |Strauss |have |recognized |the |growing |________ |in |the
|U.S. |population |by |targeting |specially |designed |products, |ads, |and |promotions |to |appeal |to |one |or
|more |ethnic, |racial, |or |lifestyle-based |groups. |- |correct |answer |-diversity
To |exercise |their |social |responsibility |and |build |more |positive |images, |many |companies |are |now
|linking |themselves |to |worthwhile |charitable |organizations |and |social |issues, |a |practice |known |as
|________. |- |correct |answer |-cause-related |marketing
Satisfying |consumers' |immediate |needs |and |desires |may |not |always |serve |the |future |best |interests
|of |customers |or |the |business. |Therefore, |________ |calls |for |socially |and |environmentally
|responsible |actions |that |meet |both |the |immediate |and |future |needs |of |customers |and |the
|company. |- |correct |answer |-sustainable |marketing
Critics |charge |the |marketing |system |with |creating |________ |by |constantly |assaulting |our |senses
|with |television |and |radio |commercials, |marring |beautiful |scenery |with |billboards, |and |intruding |on
|our |online |browsing |with |flashing |display |ads. |- |correct |answer |-cultural |pollution
________ |is |an |organized |movement |of |citizens |and |government |agencies |to |improve |the |rights
|and |power |of |buyers |in |relation |to |sellers. |- |correct |answer |-consumerism
, Because |not |all |managers |have |fine |moral |sensitivity, |companies |need |to |develop |________
|policies—broad |guidelines |that |everyone |in |the |organization |must |follow. |- |correct |answer |-
marketing |ethics
The |American |Marketing |Association, |an |international |association |of |marketing |managers |and
|scholars, |developed |a |code |of |ethics |that |calls |on |marketers |to |adopt |the |following |ethical |norms:
|________, |foster |trust |in |the |marketing |system, |and |embrace |ethical |values. |- |correct |answer |-do
|no |harm
Marketing |intermediaries |help |the |company |promote, |sell, |and |distribute |its |products |to |final
|buyers. |_________ |are |not |marketing |intermediaries. |- |correct |answer |-Suppliers
Which |of |the |following |generations |is |the |most |educated |to |date? |- |correct |answer |-Generation |X
Marketers |target |Generation |Z |because |they |________.
A.dislike |technology
B.spent |an |estimated |$43 |billion |annually |of |their |own |money
C.listen |to |their |parents |and |follow |their |examples
D.prefer |shopping |in |brick-and-mortar |stores |with |actual |products
E.have |long |attention |spans |and |are |easily |targeted |- |correct |answer |-B.spent |an |estimated |$43
|billion |annually |of |their |own |money
Which |of |the |following |is |a |trend |that |depicts |the |increasingly |nontraditional |nature |of |today's
|American |families?
A.
the |sharply |declining |number |of |stay-at-home |dads
B.
the |decreasing |reliance |on |convenience |foods |and |services
C.
