Download UCF MAR 3023 Exam 1 – Massiah questions with answers and more Exams Marketing in PDF only on Docsity!
UCF |MAR | 3023 |Exam | 1 |– |Massiah |questions |
with |answers
Value |is |what |you |get |for |what |you |give. |- |CORRECT |ANSWERS | ✔✔True Serena |studies |her |customer |profiles, |market |research |data, | complaints, |and |other |information, |attempting |to |better | understand |what |her |customers |want. |Serena |most |likely |operates | in |the |__________ |era |of |marketing. |- |CORRECT |ANSWERS |✔✔Value- Based |Marketing Four |Winds |Art |Gallery |recently |began |offering |appraisals |of | customers' |art |collections, |in |addition |to |continuing |to |sell | paintings. |Four |Winds |is: |- |CORRECT |ANSWERS |✔✔Expanding |from | offering |just |goods |to |also |services. The |_____ |consists |of |the |product, |price, |place, |and |promotion |of | an |offering. |- |CORRECT |ANSWERS |✔✔Marketing |Mix A |national |hotel |chain |engages |in |conversations |with |its |customers | through |Facebook |and |even |allows |them |to |book |their |hotel | reservations |through |its |Facebook |page. |This |is |an |example |of | marketing |using: |- |CORRECT |ANSWERS |✔✔Social |Media
Crest |toothpaste |targets |different |consumer |_____ |by |offering | different |types |of |toothpaste |for |smokers |than |it |does |for |children | based |on |their |differing |needs |and |wants. |- |CORRECT |ANSWERS | ✔✔Segments A |business |philosophy |and |set |of |strategies, |programs, |and | systems |that |focus |on |identifying |and |building |loyalty |among |the | firm's |most |valued |customers |is |known |as |- |CORRECT |ANSWERS | ✔✔Customer |Relationship |Management Which |of |the |following |marketing |mix |variables |is |involved |in |the | capture |of |value |in |the |marketing |exchange? |- |CORRECT |ANSWERS | ✔✔Price Kroger |collects |massive |amounts |of |data |about |how, |when, |why, | where, |and |what |people |buy, |and |then |analyzes |those |data |to | better |serve |its |customers. |This |refers |to |- |CORRECT |ANSWERS | ✔✔Marketing |Analytics Rather |than |being |just |a |random |activity, |good |marketing |requires | _____ |in |determining |appropriate |actions |to |produce |sound | decisions. |- |CORRECT |ANSWERS |✔✔Thoughtful |Planning
size, |income, |and |accessibility. |Lisa |was |involved |in |- |CORRECT | ANSWERS |✔✔Target |Marketing When |marketers |use |a |variety |of |communication |disciplines— advertising, |personal |selling, |sales |promotion, |public |relations, |direct |marketing, |and |online |marketing |including |social |media—in | combination |to |communicate |a |value |proposition |to |the |customer, | it |is |referred |to |as |- |CORRECT |ANSWERS |✔✔Integrated |Marketing | Communications Which |of |the |following |is |a |marketing |metric |that |might |be |used | to |evaluate |the |performance |of |a |company's |implementation |of |its | marketing |plan? |- |CORRECT |ANSWERS |✔✔GM |(Gross |Margin) According |to |the |BCG |matrix, |which |type |of |product |typically |has | excess |resources |which |can |be |used |to |support |other |products | that |need |additional |resources? |- |CORRECT |ANSWERS |✔✔Cash |Cows The |Goodyear |Tire |Company |is |organized |by |regions: |North | America, |Europe, |Middle |East |and |Africa, |Latin |America, |and |Asia | Pacific. |These |divisions |of |Goodyear |are |called |- |CORRECT | ANSWERS |✔✔Strategic |Business |Units When |marketers |make |their |offering |available |when |and |where |the | customer |wants |it, |which |of |the |following |elements |of |the | marketing |mix |is |involved? |- |CORRECT |ANSWERS |✔✔Place
A |written |document |composed |of |an |analysis |of |the |current | marketing |situation, |opportunities |and |threats |for |the |firm, | marketing |objectives |and |strategy |specified |in |terms |of |the |four | Ps, |action |programs, |and |projected |income |statements |is |referred | to |as |a(n) |- |CORRECT |ANSWERS |✔✔Marketing |Plan Companies |must |deliver |more |value |and |satisfaction |to |target | consumers |than |its |competitors |to |gain |a |- |CORRECT |ANSWERS | ✔✔Competitive |Advantage When |a |firm |considers |its |overall |objectives |and |considers |the |type | of |business |it |is |in, |it |is |engaged |in |which |of |the |following |steps |of | the |marketing |planning |process? |- |CORRECT |ANSWERS |✔✔Defining | the |Mission Singapore |Airlines |is |recognized |as |an |industry |leader |for | exemplary |customer |service, |and |has |continued |to |add |new |ways | to |serve |customers |better |than |competitors. |In |doing |so, |it |has | focused |on |sustaining |its |competitive |advantage |through |_____ | excellence. |- |CORRECT |ANSWERS |✔✔Customer Which |of |the |following |represents |the |three |major |phases |of |a | marketing |plan? |- |CORRECT |ANSWERS |✔✔Planning, | Implementation, |Control
How |might |a |technology |company |like |Apple |ensure |that |it | behaves |in |a |socially |responsible |way |toward |its |customers? |- | CORRECT |ANSWERS |✔✔It |can |protect |the |privacy |of |personal | information |collected |on |its |website. Which |of |the |following |is |the |best |example |of |corporate |social | responsibility |affecting |the |marketplace? |- |CORRECT |ANSWERS |✔✔An |industry |leader |adopts |environmentally |friendly |production | practices |and |other |companies |in |the |industry |follow |suit. Which |of |the |following |is |an |accurate |statement |about |corporate | social |responsibility? |- |CORRECT |ANSWERS |✔✔When |marketers | work |in |controversial |or |polluting |industries |such |as |tobacco |or | fossil |fuels, |their |central |activities |largely |bar |them |from |becoming | conscious |marketers. During |which |phase |of |the |strategic |marketing |planning |process |are |managers |evaluated |on |their |actions |from |a |conscious |marketing | perspective? |- |CORRECT |ANSWERS |✔✔Control After |a |firm |has |carefully |considered |all |relevant |alternatives |to | address |an |ethically |difficult |situation, |the |next |step |would |be |to | _____ |to |bring |about |the |best |solution. |- |CORRECT |ANSWERS | ✔✔Choose |a |course |of |action
What |tool |would |a |marketing |executive |use |to |ensure |that |he |or | she |has |applied |all |relevant |decision-making |criteria |to |assess |his | or |her |confidence |in |having |come |to |a |decision |that |respects |the | rights |and |dignity |of |all |stakeholders? |- |CORRECT |ANSWERS |✔✔An | ethical |decision-making |metric Which |of |the |following |is |true |regarding |corporate |social | responsibility? |- |CORRECT |ANSWERS |✔✔It |is |often |grafted |on |to |a | traditional |business |model, |usually |as |a |separate |department |or | part |of |PR Josie |feels |pressure |to |increase |sales, |so |she |decides |to |purposely | mark |up |the |price |on |a |new |shipment |of |sweaters |and |then | immediately |put |them |on |sale. |Even |though |she |is |deceiving |the | customer, |Josie |justifies |her |decision |by |knowing |that |management | will |be |pleased |with |the |increase |in |revenue. |However, |Josie's | decision |may |have |serious |consequences |for |the |company |in |the | long |term. |What |does |your |text |suggest |as |a |way |to |avoid |the | consequences |that |can |result |from |such |behavior? |- |CORRECT | ANSWERS |✔✔Making |sure |short-term |goals |of |each |employee |are | aligned |with |the |long-term |goals |of |the |firm In |which |phase |of |the |strategic |marketing |planning |process |does | the |firm |decide |what |level |of |commitment |to |its |ethical |policies | and |standards |it |is |willing |to |declare |publicly? |- |CORRECT |ANSWERS | ✔✔Planning
Yuri |is |considering |a |new |promotional |campaign |in |which |he |will | compare |his |products |to |those |of |his |competitors. |Before |initiating | the |promotional |campaign, |Yuri |will |assess |his |competitors' | strengths, |weaknesses, |and |- |CORRECT |ANSWERS |✔✔Likely |response |to |his |promotional |activities Which |of |the |following |is |the |most |likely |result |of |inflation? |- | CORRECT |ANSWERS |✔✔Consumers |will |switch |to |less |expensive | options |for |necessities Netflix |uses |__________ |analytics |to |suggest |which |movies |we |should | watch |as |well |as |to |develop |new |content |that |it |is |confident |we | will |like. |- |CORRECT |ANSWERS |✔✔Predictive Advertising |guidelines |stating |that |companies |cannot |link | unhealthy |foods |with |cartoon |and |celebrity |figures |is |geared | toward |which |social |trend? |- |CORRECT |ANSWERS |✔✔Health |and | Wellness |Concerns Culture, |demographics, |social |issues, |technological |advances, | economic |situations, |and |the |political/regulatory |environment |are | all |factors |that |make |up |which |of |the |following |frameworks |of | analysis? |- |CORRECT |ANSWERS |✔✔Macro-Environmental |Factors
The |cost |of |borrowing |money |is |measured |by |- |CORRECT |ANSWERS | ✔✔Interest |Rates Which |of |the |following |is |not |a |demographic |listed |in |your |text | that |would |typically |be |used |to |identify |consumer |markets? |- | CORRECT |ANSWERS |✔✔Religion Which |group |of |consumers |in |the |United |States |has |an |increasing | influence |on |mainstream |U.S. |culture |with |buying |power |that |was | projected |to |reach |$1.3 |trillion |in |2015? |- |CORRECT |ANSWERS | ✔✔Hispanic The |primary |strength |of |Pepsi |is |the |manufacture, |distribution, |and | promotion |of |carbonated |beverages. |These |describe |which |factor | of |a |Pepsi |consumer's |immediate |environment? |- |CORRECT | ANSWERS |✔✔Company |Capabilities Firms |that |disingenuously |market |products |as |environmentally | friendly |with |the |goal |of |gaining |public |approval |and |sales, |rather | than |actually |improving |the |environment, |are |guilty |of |- |CORRECT | ANSWERS |✔✔Greenwashing _____ |involves |a |strategic |effort |by |firms |to |supply |customers |with | environmentally |friendly, |sustainable |merchandise |and |services. |- | CORRECT |ANSWERS |✔✔Green |Marketing
Yesenia, |the |new |university |course |scheduling |manager, |is | struggling |with |adjustments |to |the |fall |schedule. |She |is |trying |to | determine |how |to |offer |the |classes |students |need |at |the |times | when |students |need |them. |Yesenia |is |struggling |with |the | marketing |function |of |- |CORRECT |ANSWERS |✔✔Supply |Chain | Management __________ |is |communication |by |a |marketer |that |informs, |persuades, | or |reminds |potential |customers |about |a |product. |- |CORRECT | ANSWERS |✔✔Promotion A |relational |orientation |is |based |on |the |philosophy |that |buyers |and | sellers |develop |- |CORRECT |ANSWERS |✔✔A |Long-Term |Relationship The |group |of |firms |that |makes |and |delivers |a |given |set |of |goods | and/or |services |is |called |a |supply |chain. |- |CORRECT |ANSWERS | ✔✔True Which |of |the |following |actions, |if |it |actually |happened, |would |be | the |most |likely |to |support |and |enhance |an |operational |excellence | macro |strategy? |- |CORRECT |ANSWERS |✔✔3M |Corporation, | implementing |new |software |to |improve |communication |with |its | suppliers When |Nike, |the |prominent |athletic |shoe |manufacturer, |branched |out |from |selling |only |athletic |shoes |to |also |offering |athletic |clothing |
and |gym |bags, |what |type |of |growth |strategy |did |this |represent? |- | CORRECT |ANSWERS |✔✔Product |Development Marketers |who |design |and |offer |new |products |and |services |to | their |existing |customers |are |pursuing |a |____________________ |growth | strategy. |- |CORRECT |ANSWERS |✔✔Product |Development Firms |decide |how |to |allocate |resources |to |their |various |products | and |services |during |the |STP |step |of |the |marketing |planning | process. |- |CORRECT |ANSWERS |✔✔False The |"Implement |Marketing |Mix" |step |of |the |strategic |marketing | planning |process |is |part |of |the |control |phase. |- |CORRECT |ANSWERS | ✔✔False Lamar |owns |four |dry |cleaning |stores |in |the |suburbs |of |Orlando, | Florida. |He |recently |updated |his |STP |analysis, |and |has |just |finished | adjusting |his |marketing |mix |based |on |the |STP |results. |His |next | strategic |marketing |decision |will |likely |involve |- |CORRECT |ANSWERS | ✔✔How |to |allocate |resources |among |his |four |stores Which |of |the |following |is |LEAST |likely |to |provide |a |sustainable | competitive |advantage? |- |CORRECT |ANSWERS |✔✔Lowering |Prices
Corporate |social |responsibility |refers |to |the |coordinated |actions |of | government |organizations |to |address |the |ethical, |social, |and | environmental |impacts |of |business |operations. |- |CORRECT | ANSWERS |✔✔False Advertising |executives |are |rated |as |having |higher |ethical |standards | than |lawyers. |- |CORRECT |ANSWERS |✔✔False When |auditing |expenses |claimed |by |the |university |president, |the | auditors |found |extravagant |spending |on |$1,000 |per |night |hotels, | banquets, |and |gourmet |restaurants. |The |president |was |fired, |alumni |donations |declined, |and |staff |members—who |were |disturbed |by | the |extravagance |while |staff |salaries |were |frozen—quit |their |jobs. | This |example |illustrates |- |CORRECT |ANSWERS |✔✔That |the |impact | of |unethical |actions |can |affect |the |organization |in |unanticipated | ways When |looking |at |ethical |issues |associated |with |the |strategic | marketing |planning |process, |questions |- |CORRECT |ANSWERS | ✔✔Vary |at |each |stage |of |the |process Generation |X |is |known |for |which |of |the |following |characteristics? |- | CORRECT |ANSWERS |✔✔The |first |generation |of |latchkey |children The |center |of |all |marketing |efforts |is: |- |CORRECT |ANSWERS |✔✔The | Consumer
Firms |that |provide |materials, |transportation, |advertising, | accounting, |and |other |goods |and |services, |helping |a |firm |create | value |for |its |customers, |are |called |- |CORRECT |ANSWERS | ✔✔Corporate |Partners Demographic |profiles |of |customers |provide |an |easily | understood |"snapshot" |of |the |typical |consumer |in |target |markets. |- | CORRECT |ANSWERS |✔✔True When |marketers |look |at |advertising |media |they |often |begin |with | viewer |or |listener |profiles |such |as |age, |income, |gender, |and |race. | They |then |compare |the |media |profile |with |their |target |audience. | These |marketers |are |using |__________ |to |see |if |the |media |"fit" |with | their |advertising |agenda. |- |CORRECT |ANSWERS |✔✔Demographics In |the |immediate |environment, |the |competition |has |no |effect |on | consumers. |- |CORRECT |ANSWERS |✔✔False When |considering |income |as |a |demographic |variable |affecting | marketing |efforts, |marketers |need |to |recognize |that |- |CORRECT | ANSWERS |✔✔Income |in |the |United |States |has |become |more | unevenly |distributed
