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Question #1

occurs when the service provider is available but there is no demand for the service

A idle production capacity

B traditional auction

C ethics

D market-product grid

Question #2

the four unique elements that distinguish services from goods: intangibility, inconsistency, inseparability, and inventory

A four I’s of services

B e-marketplaces

C self-regulation

D product differentiation

Question #3

products organizations buy that assist in providing other products for resale. Also called B2B products or industrial products.

A business products

B buy classes

C consumerism

D market segmentation

Question #4

products purchased by the ultimate consumer

A licensing

B consumer products

C buying center

D regulation

Question #5

intangible activities or benefits that an organization provides to satisfy consumers’ needs in exchange for money or something else of value

A organizational buying behavior

B joint venture

C competition

D services

Question #6

a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers’ needs and is received in exchange for money or something else of value

A exporting

B Internet of Things (IoT)

C product

D derived demand

Question #7

a means of displaying in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how they perceive competing products or brands, as well as the firm’s own product or brand

A perceptual map

B organizational buyers

C marketspace

D currency exchange rate

Question #8

changing the place a product occupies in a consumer’s mind relative to competitive products

A business-to-business marketing

B back translation

C technology

D product repositioning

Question #9

the place a product occupies in consumers’ minds based on important attributes relative to competitive products

A economy

B product positioning

C cultural symbols

D subcultures

Question #10

a concept that suggest 80 percent of a firm’s sales are obtained from 20 percent of its customers

A culture

B family life cycle

C Foreign Corrupt Practices Act (1977)

D 80/20 rule

Question #11

the quantity consumed or patronage (store visits) during a specific period. Also called frequency marketing

A multicultural marketing

B protectionism

C subcultures

D usage rate

Question #12

a framework to relate the market segments of potential buyers to products offered or potential marketing actions

A balance of trade

B market-product grid

C baby boomers

D family life cycle

Question #13

a marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products

A brand community

B environmental scanning

C trade feedback effect

D product differentiation

Question #14

involves aggregating prospective buyers into groups, or segments, that (1) have common needs and (2) will respond similarly to a marketing action

A demographics

B market segmentation

C countertrade

D reference groups

Question #15

a company offers the right to a trademark, patent, trade secret, or other similarly values item of intellectual property in return for a royalty or a fee

A reverse auction

B word of mouth

C marketing tactics

D licensing

Question #16

a global market-entry strategy in which a foreign company and a local firm invest together to create a local business in order to share ownership, control, and profits of the new company

A marketing strategy

B joint venture

C opinion leaders

D traditional auction

Question #17

a global market-entry strategy in which a company produces products in one country and sells them in another country

A e-marketplaces

B beliefs

C exporting

D points of difference

Question #18

the price of one country’s currency expressed in terms of another country’s currency

A market segmentation

B attitude

C currency exchange rate

D buy classes

Question #19

the practice where a translated world or phrase is retranslated into the original language by a different interpreter to catch errors

A SWOT analysis

B buying center

C brand loyalty

D back translation

Question #20

things that represent ideas and concepts in a specific culture

A organizational buying behavior

B situation analysis

C learning

D cultural symbols

Question #21

A law, amended by the International Anti-Dumping and Fair Competition Act (1998), that makes it a crime for US corporations to bribe an official of a foreign government or political party to obtain or retain business in a foreign country

A strategic marketing process

B perceived risk

C derived demand

D Foreign Corrupt Practices Act (1977)

Question #22

what is considered normal and expected about the way people do things in a specific country

A diversification analysis

B organizational buyers

C perception

D customs

Question #23

a society’s personally or socially preferable modes of conduct or states of existence that tend to persist over time

A personality

B business-to-business marketing

C business portfolio analysis

D values

Question #24

A marketing metric

B motivation

C cross-cultural analysis

D mission

Question #25

the clandestine collection of trade secrets or proprietary information about competitors

A core values

B economic espionage

C involvement

D marketing dashboard

Question #26

consumer groups living in many countries or regions of the world who have similar needs or seek similar features and benefits from products or services

A global consumers

B idle production capacity

C strategy

D relationship marketing

Question #27

a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs

A customer value

B four I’s of services

C global brand

D profit

Question #28

views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants rather than differences

A transnational firm

B utility

C business products

D environmental forces

Question #29

views the world as consisting of unique parts and markets to each part differently (ex: Mr. Clean)

A customer value proposition

B multinational firm

C organizational buyers

D consumer products

Question #30

engages in trade and marketing in different countries as an extension of the marketing strategy in its home country

A international firm

B market mix

C services

D ultimate consumers

Question #31

a strategy used by transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ

A product

B product

C target market

D global marketing strategy

Question #32

a strategy used by multinational firms that have as many different product variations, brand names, and advertising programs as countries in which they do business

A market

B perceptual map

C multidomestic marketing strategy

D market orientation

Question #33

exists when firms originate, produce, and market their products and services worldwide

A global competition

B exchange

C societal marketing concept

D product repositioning

Question #34

a permanent institution that sets rules governing trade between its members through panels of trade experts who decide on trade disputes between members and issue binding decisions

A World Trade Organization (WTO)

B marketing concept

C product positioning

D marketing

Question #35

a restriction placed on the amount of a product allowed to enter or leave a country

A multicultural marketing

B quota

C 80/20 rule

D market segments

Question #36

government taxes on products or services entering a country that primarily serve to raise prices on imports

A generation Y

B marketing program

C tariffs

D usage rate

Question #37

the practice of shielding one or more industries within a country’s economy from foreign competition through the use of tariffs or quotas

A generation X

B protectionism

C marketing program

D customs

Question #38

the difference between the monetary value of a nation’s exports and imports

A baby boomers

B balance of trade

C relationship marketing

D values

Question #39

increased demand for exports of other nations energizes their economic activity, resulting in higher national income, which stimulates their demand for imports

A cross-cultural analysis

B environmental scanning

C customer value

D trade feedback effect

Question #40

the practice of using barter rather than money for making global sales

A countertrade

B environmental forces

C demographics

D economic espionage

Question #41

in an e-marketplace, an online auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with one another

A customer value proposition

B marketing tactics

C global consumers

D reverse auction

Question #42

in an e-marketplace, an online auction in which a seller puts an item up for sale and would-be buyers are invited to bid in competition with one another

A traditional auction

B marketing strategy

C global brand

D market mix

Question #43

online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information, money, products, and services. Also called B2B exchanges or e-hubs.

A target market

B points of difference

C transnational firm

D e-marketplaces

Question #44

consist of three types of organizational buying situations: straight rebuy, new buy, and modified rebuy

A buy classes

B market segmentation

C market

D multinational firm

Question #45

the group of people in an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision

A business portfolio analysis

B exchange

C international firm

D buying center

Question #46

the decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers

A global marketing strategy

B marketing metric

C organizational buying behavior

D marketing

Question #47

the demand for industrial products and services that is driven by, or derived from, the demand for consumer products and services

A marketing dashboard

B multidomestic marketing strategy

C derived demand

D perception

Question #48

those manufacturers, wholesales, retailers, service companies, not-for-profit organization, and government agencies that buy products and services for their own use or for resale

A personality

B organizational buyers

C global competition

D marketing plan

Question #49

the marketing of products and services to companies, governments, or not-for-profit organizations for use in the creation of products and services that they can produce and market to others

A market share

B customs

C business-to-business marketing

D motivation

Question #50

subgroups within the larger, or national, culture with unique values, ideas, and attitudes

A goals

B involvement

C values

D subcultures

Question #51

the distinct phases that a family progresses through from formation to retirement, each phase bringing with it identifiable purchasing behaviors

A purchase decision process

B family life cycle

C business

D cross-cultural analysis

Question #52

a specialized group of consumers with a structured set of relationships involving a particular brand, fellow customers of that brand, and the product in use

A economic espionage

B cause marketing

C organizational culture

D brand community

Question #53

people to whom an individual looks as a basis for self-appraisal or as a source of personal standards

A green marketing

B mission

C global consumers

D reference groups

Question #54

the influencing of people during conversations

A word of mouth

B social responsibility

C core values

D global brand

Question #55

individuals who exert direct or indirect social influence over others

A strategy

B opinion leaders

C transnational firm

D utilitarianism

Question #56

a consumer’s subjective perception of how a product or brand performs on different attributes based on personal experience, advertising, and discussions with other people

A moral idealism

B multinational firm

C beliefs

D profit

Question #57

a learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way

A code of ethics

B international firm

C utility

D attitude

Question #58

a favorable attitude toward and consistent purchase of a single brand over time

A societal marketing concept

B marketing metric

C subcultures

D brand loyalty

Question #59

those behaviors that result from (1) repeated experience and (2) reasoning

A marketing dashboard

B learning

C marketing concept

D family life cycle

Question #60

the anxiety felt because the consumer cannot anticipate the outcomes of a purchase but believes there may be negative consequences

A perceived risk

B brand community

C market segments

D marketing plan

Question #61

the process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world

A market share

B perception

C reference groups

D marketing program

Question #62

a person’s consistent behaviors or responses to recurring situations

A word of mouth

B relationship marketing

C goals

D personality

Question #63

the energizing force that stimulates behavior to satisfy a need

A opinion leaders

B customer value

C business

D motivation

Question #64

the personal, social, and economic significance of the purchase to the consumer

A environmental forces

B organizational culture

C involvement

D beliefs

Question #65

the five stages a buyer passes through in making choices about which products and services to buy: (1) problem recognition, (2) information search, (3) alternative evaluation, (4) purchase decision, and (5) post-purchase behavior

A purchase decision process

B mission

C customer value proposition

D attitude

Question #66

occurs when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products

A brand loyalty

B core values

C cause marketing

D market mix

Question #67

marketing efforts to produce, promote, and reclaim environmentally sensitive products

A learning

B strategy

C green marketing

D target market

Question #68

the idea that organizations are part of a larger society and are accountable to that society for their actions

A profit

B social responsibility

C market

D perceived risk

Question #69

a personal moral philosophy that focuses on “the greatest good for the greatest number” by assessing the costs and benefits of the consequences of ethical behavior

A utility

B opinion leaders

C exchange

D utilitarianism

Question #70

a personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome

A beliefs

B marketing

C organizational buyers

D moral idealism

Question #71

a formal statement of ethical principles and rules of conduct

A attitude

B code of ethics

C ultimate consumers

D derived demand

Question #72

a law that codified the ethics of exchange between buyers and sellers, including the rights to safety, to be informed, to choose, and to be heard

A brand loyalty

B Consumer Bill of Rights (1962)

C organizational buyers

D societal marketing concept

Question #73

the moral principles and values that govern the actions and decisions of an individual or group

A marketing concept

B ethics

C business-to-business marketing

D learning

Question #74

an alternative to government control whereby an industry attempts to police itself

A market segments

B subcultures

C self-regulation

D perceived risk

Question #75

a grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institutions

A family life cycle

B marketing program

C consumerism

D perception

Question #76

restrictions state and federal laws place on a business with regard to the conduct of its activities

A personality

B relationship marketing

C regulation

D brand community

Question #77

the alternative firms that could provide a product to satisfy a specific market’s needs

A customer value

B competition

C motivation

D reference groups

Question #78

the network of products embedded with connectivity-enabled electronics

A Internet of Things (IoT)

B environmental forces

C word of mouth

D personality

Question #79

an information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunication technologies and digital offerings

A marketing program

B motivation

C marketspace

D customer value proposition

Question #80

inventions or innovations from applied science or engineering research

A involvement

B market mix

C technology

D relationship marketing

Question #81

pertains to the income, expenditures, and resources that affect the cost of running a business and household

A customer value

B economy

C target market

D purchase decision process

Question #82

the set of values, ideas, and attitudes that are learned and shared among the members of a group

A environmental forces

B cause marketing

C culture

D ethics

Question #83

combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races

A multicultural marketing

B self-regulation

C customer value proposition

D green marketing

Question #84

includes the 72 million Americans born between 1977 and 1994. Also called the echo-boom or the baby boomlet

A generation Y

B social responsibility

C consumerism

D market mix

Question #85

includes the 50 million people born between 1965 and 1976. Also called the baby bust

A utilitarianism

B regulation

C target market

D generation X

Question #86

includes the generation of 76 million children born between 1946 and 1964

A moral idealism

B baby boomers

C competition

D market

Question #87

the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends

A perception

B environmental scanning

C exchange

D code of ethics

Question #88

describing a population according to selected characteristics such as age, gender, ethnicity, income, and occupation

A marketing

B personality

C demographics

D market orientation

Question #89

the detailed day-to-day operational marketing actions for each element of the marketing mix that contribute to the overall success of marketing strategies

A societal marketing concept

B motivation

C organizational culture

D marketing tactics

Question #90

the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it

A involvement

B marketing concept

C marketing strategy

D mission

Question #91

those characteristics of a product that make it superior to competitive substitutes

A points of difference

B core values

C purchase decision process

D market segments

Question #92

involves aggregating prospective buyers into groups, or segments, that (1) have common needs and (2) will respond similarly to a marketing action

A strategy

B marketing program

C cause marketing

D market segmentation

Question #93

an acronym describing an organization’s appraisal of its internal Strengths and Weaknesses and its external Opportunities and Threats

A SWOT analysis

B relationship marketing

C green marketing

D profit

Question #94

taking stock of where the firm a product has been recently, where it is now, and where it is headed in terms of the organization’s marketing plans and the external forces and trends affecting it

A utility

B customer value

C situation analysis

D social responsibility

Question #95

the approach whereby an organization allocates its marketing mix resources to reach its target markets

A utilitarianism

B organizational buyers

C strategic marketing process

D environmental forces

Question #96

a technique that helps a firm search for growth opportunities from among current and new market as well as current and new products

A customer value proposition

B moral idealism

C ultimate consumers

D diversification analysis

Question #97

a technique that managers use to quantify performance measures and growth targets to analyze their firms’ strategic business units (SBUs) as though they were a collection of separate investments

A self-regulation

B business portfolio analysis

C environmental scanning

D product

Question #98

a measure of the quantitative value or trend of a marketing action or result

A utility

B marketing metric

C consumerism

D demographics

Question #99

the visual display of the essential information related to achieving a marketing objective

A organizational buyers

B regulation

C marketing tactics

D marketing dashboard

Question #100

a road map for the marketing actions of an organization for a specified future time period, such as one year or five years

A marketing plan

B competition

C marketing strategy

D ultimate consumers

Question #101

the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself

A product

B environmental forces

C points of difference

D market share

Question #102

statements of an accomplishment of a task to be achieved, often by a specific time. Also called objectives

A goals

B market orientation

C market segmentation

D customer value proposition

Question #103

the clear, broad, underlying industry or market sector of an organization’s offering

A SWOT analysis

B business

C market mix

D societal marketing concept

Question #104

the set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization

A organizational culture

B situation analysis

C target market

D marketing concept

Question #105

a statement of the organization’s function in society that often identifies its customers, markets, products, and technologies. Often used interchangeably with vision

A market segments

B strategic marketing process

C mission

D market

Question #106

the fundamental, passionate, and enduring principles of an organization that guide its conduct over time

A exchange

B Internet of Things (IoT)

C marketing program

D core values

Question #107

an organization’s long-term course of action designed to deliver a unique customer experience while achieving its goals

A marketing

B strategy

C marketspace

D relationship marketing

Question #108

the money left after a for-profit organization subtracts its total expenses from its total revenues and is the reward for the risk it undertakes in marketing its offerings

A technology

B baby boomers

C profit

D market segmentation

Question #109

the benefit or customer value received by users of the product

A SWOT analysis

B utility

C economy

D environmental scanning

Question #110

those manufacturers, wholesalers, retailers, service companies, not-for-profit organizations, and government agencies that buy products and services for their own use and for resale

A organizational buyers

B culture

C situation analysis

D demographics

Question #111

the people who use the products and services purchased for a household (also called consumers, buyers, or customers)

A strategic marketing process

B ultimate consumers

C marketing tactics

D customer value

Question #112

a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers’ needs and is received in exchange for money or something else of value

A product

B environmental forces

C diversification analysis

D marketing strategy

Question #113

an organization with a _____ focuses its efforts on (1) continuously collecting information about customers’ needs, (2) sharing this information across departments, and (3) using it to create customer value

A business portfolio analysis

B points of difference

C customer value proposition

D market orientation

Question #114

the view that organizations should satisfy the needs of consumers in a way that provides for society’s well-being

A baby boomers

B marketing metric

C societal marketing concept

D market mix

Question #115

the idea that an organization should (1) strive to satisfy the needs of consumers while also (2) trying to achieve the organization’s goals

A target market

B marketing concept

C marketing dashboard

D environmental scanning

Question #116

the relatively homogeneous groups of prospective buyers that (1) have common needs and (2) will respond similarly to a marketing action

A business

B customer value proposition

C demographics

D market segments

Question #117

a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers

A marketing program

B marketing tactics

C market mix

D organizational culture

Question #118

links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit

A target market

B relationship marketing

C mission

D marketing strategy

Question #119

the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price

A customer value

B points of difference

C market

D core values

Question #120

the uncontrollable forces that affect a marketing decision and consist of social, economic, technological, competitive, and regulatory forces

A strategy

B environmental forces

C exchange

D market segmentation

Question #121

the cluster of benefits that an organization promises customers to satisfy their needs

A market

B profit

C customer value proposition

D marketing

Question #122

the controllable factors – product, price, promotion, and place – that can be used by the . marketing manager to solve a marketing problem

A market orientation

B market mix

C exchange

D utility

Question #123

one or more specific groups of potential consumers toward which an organization directs its marketing program

A societal marketing concept

B relationship marketing

C target market

D marketing

Question #124

people with both the desire and the ability to buy a specific offering

A market

B marketing concept

C market mix

D customer value

Question #125

the trade of things of value between buyer and seller so that each is better off after the trade

A environmental forces

B exchange

C target market

D market segments

Question #126

the activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

A market

B marketing

C marketing program

D customer value proposition

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