Question 1

1 out of 1 points
When discussing the marketing planning process, STP stands for:

Selected Answer:

Segmentation, targeting, and positioning.
Correct Answer:

Segmentation, targeting, and positioning.


Question 2
1 out of 1 points
After defining the business mission, what should a firm do next to develop a marketing plan?

Selected Answer:

Perform a situation analysis.
Correct Answer:

Perform a situation analysis.


Question 3
1 out of 1 points
Imagine that you are in a convenience store choosing your favorite "comfort" food instead of being in a
classroom taking this test. You might notice the packaging, colors, labels, even the fonts used on labels. All of
these efforts are part of the marketer's:

Selected Answer:

positioning strategy.
Correct Answer:

positioning strategy.


Question 4
1 out of 1 points
In order to effectively communicate value to target markets, marketers must first:

Selected Answer:

understand their customers.
Correct Answer:

understand their customers.


Question 5
1 out of 1 points
If a firm wants to develop a sustainable competitive advantage, it should:

Selected
Answer:

examine its operations and customer relations to identify significant things competitors
cannot easily copy.
Correct
Answer:

examine its operations and customer relations to identify significant things competitors
cannot easily copy.


Question 6
1 out of 1 points
In its discussion of Nike and adidas, two major athletic shoe manufacturers, the text mentions that Nike has
purchased Umbro, a sports brand that has appealed mainly to soccer (European football) enthusiasts in the past.
This action suggests that Nike intends to compete head to head with adidas, which got its start designing soccer

shoes. On a SWOT analysis for adidas, how should Nike's acquisition of Umbro be categorized?
Selected Answer:

Threat
Correct Answer:

Threat


Question 7
1 out of 1 points
Adrienne decides to add new sales representatives and increase advertising in her existing market for her current
line of security systems. Adrienne is pursuing a __________ growth strategy.
Selected Answer:

market penetration
Correct Answer:

market penetration


Question 8
1 out of 1 points
Maryam called her auto insurance agent to renew her policy. The agent told her about new types of insurance
that are now available--to cover her apartment, or even the engagement ring she just got from her fianc. The
agent was pursuing a ________________ growth strategy.

Selected Answer:

product development
Correct Answer:

product development


Question 9
1 out of 1 points
After identifying various market segments that her company could pursue, Lisa evaluated each segment's
attractiveness based on size, income, and accessibility. Lisa was involved in:
Selected Answer:

target marketing.
Correct Answer:

target marketing.


Question 10
1 out of 1 points
Over the last few months, Juan and his colleagues have analyzed the current business situation, and then
identified target markets for his firm's personal care products. Finally, they developed the products, prices,
distribution and promotion that should appeal to each of those target markets. In doing so, Juan has also
identified what he believes is an advantage his competitors cannot match. Juan and his colleagues have been
developing:

Selected Answer:

a marketing strategy
Correct Answer:

a marketing strategy


Question 11
1 out of 1 points
The process of value __________, in which customers collaborate in product design, often provides additional

value to the firm's customers.
Selected Answer:

cocreation
Correct Answer:

cocreation


Question 12
1 out of 1 points
Marketing provides the critical function of __________ when companies expand globally.

Selected Answer:

understanding customers
Correct Answer:

understanding customers


Question 13
0 out of 1 points
Supply chain management is also referred to as

Selected Answer:

production management.
Correct Answer:

marketing channel management.


Question 14
1 out of 1 points
Leah is the marketing manager for an electronics company. While on vacation in Ecuador, she visited electronics
stores in the major malls in Quito, the capital city. Most of her company's products were available, except for
smart phones. When she returned to work, she mentioned this observation to her international sales manager.
Leah was providing the important marketing function of

Selected Answer:

identifying opportunities to expand.
Correct Answer:

identifying opportunities to expand.


Question 15
1 out of 1 points
Franco uses a database software system to remind him when his customers should be ready to reorder his
industrial cleaning products. With this reminder system, Franco contacts his customers when they are most likely
to be "in the buying mode." Franco's system is part of

Selected Answer:

customer relationship management.
Correct Answer:

customer relationship management.


Question 16
1 out of 1 points
Henry Ford's statement, "Customers can have any color they want so long as it's black," typified the __________
era of marketing.
Selected Answer:


production-oriented
Correct Answer:

production-oriented

Question 17
0 out of 1 points
During the __________ era manufacturers and retailers began to focus on what consumers wanted and needed
before they designed, made, or attempted to sell their products.
Selected Answer:

sales-oriented
Correct Answer:

market-oriented


Question 18
1 out of 1 points
Many firms with complex products have "missionary" salespeople who assist customers with problems and
implementation programs. These salespeople rarely sell products but often become involved in and
knowledgeable about specific customers' needs and wants. These salespeople focus on a(n) __________
orientation with their customers.

Selected Answer:

relational
Correct Answer:

relational


Question 19
1 out of 1 points
Marketing involves all of the following EXCEPT

Selected Answer:

production scheduling.
Correct Answer:

production scheduling.


Question 20
1 out of 1 points
If a radio station holds an online contest in which you must log in to their website and submit personal details
such as name, phone number, and email in order to participate, the radio station is
Selected Answer:

offering an exchange.
Correct Answer:

offering an exchange.