Deck 1: Marketing in Todays Global Business Milieu

Question 1

Little m marketing refers to tactics and programs the firm uses to reach its stakeholders.

Answer 1

True

Question 2

Of all the business fields,marketing is most visible to people outside the organization.

Answer 2

True

Question 3

Absolute dependency on domestic markets is essential for a company's long-term growth.

Answer 3

False

Question 4

Companies often begin direct foreign marketing when they follow existing customers into foreign markets.

Question 5

The international experience learning curve refers to the length of time it takes a company to export the first shipment of products into a foreign market.

Question 6

Marketing is relevant only to people in the organization that work directly in the marketing department.

Question 7

A firm with a selling orientation assumes that "if you build it,they will come".

Question 8

A company can do business with an international company and still not engage in direct foreign marketing.

Question 9

Firms today are beginning to understand the importance of marketing metrics to assess marketing performance.

Question 10

The concept of customer orientation needs to be understood by marketing and sales and service managers.Employees who work in accounting,finance,and manufacturing need to do their jobs well but rarely have an impact on customer service.

Question 11

Walmart opened its first international store in Canada over 30 years ago.

Question 12

The scope of activities in direct foreign marketing is the same as in international marketing or global marketing and occurs with no modification.

Question 13

Big M marketing refers to the strategic,long-term,firm-level commitment to investing in marketing for the purpose of enhancing organization performance.

Question 14

Don Peppers and Martha Rogers popularized the term one-to-one marketing.

Question 15

Gen Yers tends to value relationships with marketers like State Farm Insurance in exactly the same way their parents do.

Question 16

The American Marketing Association defines marketing as "the activity,set of institutions,and processes for creating,communicating,delivering,and exchanging offerings that have value for customers,clients,partners,and society at large."

Question 17

A patient's ability to come self-diagnosed and ready to self-prescribe to a doctor's clinic is an example of shift in information power.

Question 18

"If it can't be measured,it can't be managed" refers to top management's need to quantify objectives and results.

Question 19

Fred Wiersema's book The New Market Leaders states that marketers will continue to have more power than customers in both B2B and B2C markets.

Question 20

Substantiality refers to practices of socially responsible firms that incorporate doing well by doing good.

Question 21

Marketing misunderstandings occur because many people think of marketing as __________.

A) Pushy salespeople
B) Advertising and celebrity spokespersons
C) The firm's department of advertising
D) Overstated product claims
E) All of the above

Question 22

The _____________ aspect of a firm is generally the most visible to people outside the organization.

A) Financial management
B) Accounting
C) Marketing
D) Information technology
E) Operations management

Question 23

The stereotypical automobile dealership uses tactics like high pressure and bargaining to get customers to buy.This is an example of _____________.

A) Production orientation
B) Selling orientation
C) Marketing orientation
D) Buzz marketing orientation
E) Business orientation

Question 24

The marketing concept was introduced ______________.

A) Immediately after the Civil War
B) Immediately after World War I
C) Immediately after the Great Depression
D) In the 1950s
E) In the 1960s

Question 25

AMA's current official definition of marketing reflects the view towards marketing activities as ______.

A) Focused on strategy
B) Focused on tactics like using electronic commerce and new media like You Tube
C) Focused on activities throughout the organization, not just a department
D) Focused on value, through creating, communicating, delivering and exchanging offering that create value
E) A, C and D

Question 26

After a recent 141-day strike,union members at area grocery stores in California went back to work.The union negotiated raises,better healthcare benefits,and a one-tier pay scale.The role of the union may best be described as a(n)________.

A) Governmental body
B) Stakeholder
C) Vendor
D) Internal customer
E) Management group

Question 27

Henry Ford is well known to business students for creating the assembly line that enabled mass production of the Model T.This is an example of _____________.

A) Production orientation
B) Selling orientation
C) Marketing orientation
D) Buzz marketing orientation
E) Business orientation

Question 28

Peter Drucker,the father of modern management,stated that the only definition of a business purpose is _____________.

A) To create products
B) To make products affordable and accessible to the majority of the public
C) To improve the quality of life for all people
D) To create a customer
E) To respect the environment

Question 29

Last year,a professional golfer made $100,000,000 from celebrity endorsements.This example is more relevant to which of the following marketing misconception?

A) The sizzle
B) Overstating claims
C) Advertising
D) Pushy salespeople
E) Celebrities sponsor the worst products

Question 30

Companies that conduct research using focus groups,consumer surveys,and in-person interviews most likely have a ____________.

A) Production orientation
B) Selling orientation
C) Marketing orientation
D) Buzz marketing orientation
E) Business orientation

Question 31

High pressure selling _____________.

A) Is practiced today by most companies
B) Has a marketing orientation
C) Sparked laws to protect consumers
D) Is totally a thing of the past
E) Is endorsed by the American Marketing Association

Question 32

When you tell someone you are a marketing major in college,he or she may think you want a career in ________________.

A) Management
B) Information technology
C) Sales
D) Customer service
E) Financial planning

Question 33

The makers of Milk Bone dog biscuits recently launched a media campaign to promote Canine Assistants,a nonprofit group that provides service dogs to people with disabilities.This type of marketing may be called __________.

A) National marketing
B) Global marketing
C) Animal marketing
D) Societal marketing
E) Brand marketing

Question 34

Companies that promote sustainability practices like Starbucks,that has a stringent recycling program,or General Electric,that makes compact fluorescent light bulbs (CFLs),are practicing ______________.

A) Green marketing
B) Public relations
C) Publicity
D) Shotgun marketing
E) One-to-one marketing

Question 35

__________ refers to business practices that meet humanity's needs without harming future generations.

A) Sustainability
B) Public relations
C) Publicity
D) Value
E) Relationship orientation

Question 36

Which of the following is less likely to be considered as a condition to be fulfilled for an exchange to take place?

A) Communication and delivery capabilities
B) Minimum requirement of two parties
C) Free will to accept or reject the exchange offer
D) Desirability to deal with parties
E) Assurance of exchange

Question 37

Value may be defined as the ratio of bundled benefits received to the cost incurred by the customer to receive those benefits.____________ is NOT thought of as one of the costs.

A) Monetary cost
B) Time to shop
C) Skill or expertise
D) Poor service quality
E) Customer satisfaction

Question 38

__________ is NOT a marketing function.

A) Research
B) Advertising
C) Brand development
D) Public relations
E) Research and development

Question 39

Peter Drucker,the father of modern management,believed that marketing _____________.

A) Should be a separate function within the business
B) Is the business as seen from an internal point of view
C) Is the business as seen from the customer's point of view
D) Should be considered solely as a department contributing to the firm's success
E) Should improve the quality of life for society

Question 40

Bryan gets reduced fees for his daughter's piano lessons by maintaining her teacher's Web site.Bryan is practicing the central tenet of marketing called ____________.

A) Value
B) Exchange
C) Growth
D) Sustainability
E) Customization

Question 41

__________ today is widely regarded in terms of value.

A) Product
B) Branding
C) Service
D) Pricing
E) Distribution

Question 42

The wristwatch industry was surprised when consumers began telling time by looking at their cell phones.This trend is identified by Wiersema's new market reality of _____________________.

A) Increase in demand
B) Customers have less time than ever
C) Information overwhelms and depreciates
D) All secrets are open secrets
E) Competitors proliferate

Question 43

Delivering value focuses on ________________.

A) Product
B) Branding
C) Service
D) Pricing
E) Distribution

Question 44

Which of the following company's annual report has often been cited as the first to articulate the marketing concept in writing in the Annual Report?

A) Ford Motor Company
B) AT&T
C) RCA
D) General Motors
E) General Electric

Question 45

Customer Relationship Management is designed to __________.

A) Assign a sales representative to a particular customer
B) Allow software to manage marketing
C) Facilitate higher levels of customer satisfaction and identify the most profitable customers
D) Fire customers who do little business with the firm
E) Aid the accounting department in sending invoices

Question 46

The Clean-O Company makes an all-purpose cleaner for the hospital and nursing home market that is guaranteed to kill 99% of staphylococcus germs,a major concern for medical facilities.The company is not interested in pursuing the consumer market.Clean-O has adopted a ___________.

A) Market orientation
B) Mass customization orientation
C) Differentiation orientation
D) Selling orientation
E) Production orientation

Question 47

Making a change in any of the marketing mix elements will _______________.

A) Leave the other elements unchanged
B) Possibly have an impact on another element
C) Have a domino effect on the other elements
D) Require the firm to introduce new products
E) Require an increase in promotion

Question 48

Relationship-oriented firms are _______________.

A) Driven by meeting this quarter's financial projections
B) Seeking the most profitable customers who are highly satisfied with the firm's offering
C) Constantly investing in new customers and hope they become long-term
D) Often scrambling to replace lost customers
E) Trying to retain all customers

Question 49

Jack wants to get his new computer from the most famous mass customization marketer.He should purchase from __________.

A) Compaq
B) Hewlett-Packard
C) Apple
D) Dell
E) Gateway

Question 50

XYZ department store advertises the "biggest sale of the year" every weekend and offers extra bargains to early bird customers.ABC department store advertises seasonal sales and employees send handwritten notes to customers who spend more than a certain amount of money.This implies that _______________________.

A) XYZ is long-term oriented and ABC is short-term oriented
B) XYZ is focused on selling and ABC is focused on relationship building
C) Both firms are trying to achieve the same goal of profitability so tactics do not matter
D) XYZ must be more successful since it advertises every week
E) They should both be worried about LMN

Question 51

The characterization of an offering as a solution refers to _____________________.

A) Product
B) Branding
C) Service
D) Pricing
E) Distribution

Question 52

The concept of engaging in a learning relationship with customers and directing the firm's resources to making each product or service to feel tailored is known as ____.

A) Market orientation
B) Product orientation
C) Differentiation orientation
D) One-to-one marketing orientation
E) Relationship orientation

Question 53

High tech media options like cell phones and the Internet have had a huge impact on the ________ aspect of marketing.

A) Product
B) Promotion
C) Price
D) Distribution
E) Research

Question 54

Fernandez Brothers,Inc.provides accounting services to small businesses.Before and after tax season,the partners meet with each client company.It sends a monthly newsletter to update clients with tax changes.The firm's business practices revolve around putting the customer at the center when developing services and practices.Fernandez Brothers has adopted a ________________ approach.

A) Market orientation
B) Mass customization orientation
C) Differentiation orientation
D) Relationship orientation
E) Product orientation

Question 55

__________ is NOT one of the new market realities identified by Fred Wiersema.

A) Increase in demand
B) Customers have less time than ever
C) Information overwhelms and depreciates
D) All secrets are open secrets
E) Competitors proliferate

Question 56

Creating,communicating,delivering,and exchanging offerings that have value may be thought of as ___________________.

A) The marketing mix or 4 Ps
B) The firm's strategic plan
C) Sales orientation
D) Production orientation
E) Exchange

Question 57

Customers may visit the Land's End clothing Web site and order a pair of jeans that will be made especially for them.Land's End has adopted a ___________ approach.

A) Market orientation
B) Mass customization orientation
C) Differentiation orientation
D) Product orientation
E) Relationship orientation

Question 58

Walk into almost any grocery store today and the first thing you may see is ready-to-eat meals.This trend is identified by Wiersema's new market reality of _____________________.

A) Increase in demand
B) Customers have less time than ever
C) Information overwhelms and depreciates
D) All secrets are open secrets
E) Competitors proliferate

Question 59

_____________ is NOT part of the marketing mix.

A) Product
B) Distribution
C) Promotion
D) Price
E) Manufacturing

Question 60

Don Peppers and Martha Rogers promote the idea of ____________.

A) Market orientation
B) Mass customization orientation
C) Differentiation orientation
D) One-to-one marketing orientation
E) Relationship orientation

Question 61

All internal organizational practices should be aligned around ____.

A) The billing system
B) Management
C) Manufacturing
D) The customer
E) Information technology

Question 62

When TGI Friday's,Outback Steakhouse,and other fast-casual restaurants began offering curbside delivery for call-in customers,the trend seemed unnoticed by the 'fast-food' chains like McDonalds.This illustrates Fred Wiersema's new market reality of ____________________.

A) Competitors proliferate
B) All secrets are open secrets
C) Customers have more time than ever
D) Information overwhelms and depreciates
E) Easy growth makes hard times

Question 63

State Farm Insurance offers products through a network of 16,000 independent agents.Assume that the company wants to launch a marketing campaign directed at college students.Which marketing tactic would you recommend?

A) TV advertising during the evening news
B) Sponsoring National Public Radio during morning drive time
C) Setting up a MySpace contest to win gas money
D) Sponsorship of a Rolling Stones concert tour
E) Direct mail

Question 64

Customer orientation must be understood by _____________.

A) The sales force
B) Top management
C) Top management and middle management
D) Frontline personnel
E) Everyone in the organization

Question 65

Which of the following is NOT a change driver impacting the future of marketing?

A) Shift to product glut and customer shortage
B) Focus on sales orientation
C) Shift in generational values and preferences
D) Shift to demanding return on marketing investment
E) Shift to distinguishing Marketing ("Big M") from marketing ("little m")

Question 66

Jim got over 21 million results when he visited a search engine to find out how to build his own web site.This trend is identified by Wiersema's new market reality of _____________________.

A) Easy growth makes hard times
B) Customers have less time than ever
C) Information overwhelms and depreciates
D) All secrets are open secrets
E) Competitors proliferate

Question 67

Southwest Air was the only airline in the U.S.that did not lose money in the year following the 9/11 terrorist attacks on the United States in 2001.This fact most likely reflects the company's _____________.

A) Advertising budget
B) Marketing (Big M)
C) Marketing (little m)
D) Relationship orientation
E) Sales orientation

Question 68

Customers being inundated with thousands of new products in a year and suppliers being in the pursuit of the next best thing is highly relevant to which of the following market realities identified by Wiersema?

A) Easy growth makes hard times
B) Innovation is universal
C) All secrets are open secrets
D) Customers have less time than ever
E) Information overwhelms and depreciates

Question 69

The long-term objective of strategic marketing is ____________.

A) Customer satisfaction at all costs
B) Profitability through building a customer-oriented organization
C) Understanding where the company with be in 10, 20, 30 years
D) Getting ahead while doing well in society
E) Studying the competition

Question 70

Starbucks does not use advertise to promote its stores.This decision most likely reflects the company's _____________.

A) Advertising budget
B) Marketing (Big M)
C) Marketing (little m)
D) Relationship orientation
E) Sales orientation

Question 71

Strategic marketing refers to __________________.

A) An understanding of the organizations internal opportunities and threats and external strengths and weaknesses
B) Working with competitors, when appropriate, and with suppliers
C) A long-term, firm-level commitment to investing in marketing for the purpose of enhancing organizational performance
D) Making a non-wavering commitment on which customers to serve
E) The study of promotion, distribution, delivery, and production

Question 72

Coming to grips with the impact of Wiersema's six market realities should drive firms to realize ______________.

A) That marketing is central to the organization
B) Customer orientation is not really necessary in most manufacturing firms
C) Non-profit and government agencies have long understood the importance of the customer
D) Make just-in-time manufacturing the central focus
E) They need to invest in excellent accounting systems to save money

Question 73

The Internet has made it easy for customers to access information,disinformation,post their opinions and read other people's opinions.From a marketer's point of view,this has caused _______.

A) A shift to product glut and customer shortage
B) A shift in generational values and preferences
C) A shift in power from marketers to consumers
D) A shift to demanding return on marketing investment
E) A shift to Marketing (Big M) and marketing (little m)

Question 74

Kraft Foods planned to introduce more than 80 new products in 2008.This illustrates Fred Wiersema's new market reality of ____________________.

A) Competitors proliferate
B) All secrets are open secrets
C) Innovation is universal
D) Information overwhelms and depreciates
E) Easy growth makes hard times

Question 75

In order for Marketing (Big M)to succeed,it must be championed by __________.

A) The sales force
B) Top management
C) Top management and middle management
D) Frontline personnel
E) Everyone in the organization

Question 76

Sheila and Barbara are billing department managers in a call center.Senior management has given employees only a limited amount of time to spend with each customer who phones.Sheila and Barbara want to make strategic marketing changes.They must have the support of ____________ in order to succeed.

A) The sales force
B) Top management
C) Vendors
D) Frontline personnel
E) Everyone in the organization

Question 77

____________ advocates that firms should fulfill the customer's needs in as custom a manner as possible.

A) Differentiation orientation
B) Mass marketing
C) One-to-one marketing
D) Sales orientation
E) Low cost orientation

Question 78

Companies like GEICO and Progressive that use online marketing and phone calls have affected established car insurance companies like State Farm and Allstate that traditionally write their policies through agents.This demonstrates that __________________.

A) Everyone likes to use the Internet
B) Younger customers may value quick in-and-out transactions more than their parents
C) Different business models will always work because there will always be people who are insecure and need to see an agent
D) When older people stop buying insurance, all insurance will be offered online only
E) Car insurance is mandatory in all states

Question 79

Generational shifts impact marketing in terms of human resources.Older and younger generations may have different _________________.

A) Attitudes towards work life versus family life
B) Expectations about job satisfaction and rewards
C) Preferred modes of learning and working
D) All of the above
E) None of the above

Question 80

Brands and their messages have to catch people's attention because they are not paying attention; they are scanning.This illustrates Fred Wiersema's new market reality of ____________________.

A) Competitors proliferate
B) All secrets are open secrets
C) Innovation is universal
D) Information depreciates
E) Customers have less time than ever