marketing exam 1/quiz

Walmart’s strong supplier relations and efficient supply chain have helped the firm to achieve:
Operational excellence
The marketing planning process always proceeds sequentially (in order) through the five steps*
False
E-books, in addition to being an alternative product form, provide ___________ value creation since they can be downloaded via the internet immediately when they are needed/wanted.
Place
Which of the following is commonly used as a metric for evaluating the effectiveness of a marketing plan? *
All of the above
The _________ for the American Red Cross is “to provide relief to victims of disasters and help prevent, prepare,for, and respond to emergencies.”
Mission statement
For McDonald’s, consumers increased concern about health & wellness, and there making healthy eating choices, would be considered a:
Threat
McDonald’s plan to open vegetarian only restaurants in India would be considered a __________ growth strategy.
Diversification
A __________ growth strategy relies on increased advertising and promotions in order to increase market share with the existing target market.
Market penetration
What does STP stand for in the marketing strategy process?
Segmenting, targeting, positioning
Which part of the marketing mix communicates the products value to the consumer?
Promotion
In the United States, the population is
Growing slowly and becoming more diverse
Which generational cohort is likely to be loyal to American brands and more frugal?
Seniors
Disposable income is:
Gross income minus taxes
How much time a consumer spends searching for information before a purchase depends on:*
All of the above
Upscale men’s and woman’s clothing stores primarily appeal to customers’ _______________ needs.
Psychological
_______________ attributes are product or service features that are important to buyers and that are used to differentiate among choices.
Determinant
Post-purchase cognitive dissonance is especially likely for products that are:
Expensive and infrequently purchased
Many Hollywood movie stars were among the first to buy electric and hybrid vehicles. These stars often became _________, influencing other consumers’ behavior.
Aspiration reference groups
Marketers love consumers who engage in _________, buying their company’s product with little thought or consideration of alternatives.
Habitual decision making
After a consumer recognizes that they have an unsatisfied need, their next step would be to __________.
Search for information about products