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Ulded changes LUIS ville be automatically saved Save now ListParagra... Times New ... B ZU A 2. With the help of an effective sales force that implements aggressive sales techniques, a sales oriented firm attempts to convince customers to purchase products that they may not want or need a. True b. False The Internet and the extensive use of social media have fueled the change in power from consumers any business users to manufacturers and retailers. a True b. False 4. Customers perceive high-quality products that are sold at high prices to be a good value a. True b. False 5. Training plays an important role in customer service and relationship building a. True b. False The organizations that are frequently noted for delivering superior customer value and providing high levels of customer satisfaction assign employees to teams and teach them team-building skills. a. True b. False A sales-oriented firm defines its mission in terms of benefits its customers seek, while a market-oriented firm defines its business in terms of goods and services. a. True b. False marketing.docx Unsaved changes Edits will not be automatically saved. Save now Times New ... 11 B IU A 8. Thrift stores, such as Goodwill, seek to achieve profitability through high sales volumes as their primary business goal. a. True b. False Page 1 1 Name: Class Date --- Chapter 2 Indicate whether the statement is true or false, 11 Introduction to marketing.docx Edits will not be automatically saved Save now Tools Help Unsaved changes QQ ListParagra... Times New ... BIU A. A EEE 1 Strategic planning is the managerial process of creating and maintaining a fit between the organization's objectives and resources and the evolving market opportunities. a. True b. False 2. An operating decision, such as changing package design, is unlikely to have a great impact on the long-run profitability of a company a. True b. False 3. A strategic business unit (SBU) is a single business or a collection of related businesses within the larger organization. a. True b. False According to Ansoff's strategic opportunity matrix, both product development and diversification entail the creation of new products. a. True b. False 5. Market penetration refers to attracting new customers to existing products. Ideally, new uses for old products stimulate additional sales among existing customers while also bringing in new buyers. a. True b. False Gf an organization has an SBU that it believes has the potential to be a star (and is probably a problem child at present). building would be an appropriate goal a True b. False UUV PIU-51421444-at-content-rid 404369703_1/courses/BMCO1 MAR_100_1100_120921/MAR%20100%20-% on to marketing.docx Unsaved changes Edits will not be automatically saved Save now Paragra... Times New ... 11 B U A b. False 7 Adjacent innovation involves decisions that result in brand-new markets, products, and often new businesses by acquiring new assets to develop the type of breakthrough decisions that fall in this category. a. True b. False Page 1 Help Unsaved changes Edits will not be automatically saved Save now List Paragra... - Times New ... 11 B 7 U A. 1. Ethics are moral principles unrelated to the conduct of an individual or a group. a. True b. False 2. Anything that is legal is ethical. True a. b. False 3. Self-regulation refers to the voluntary acceptance of norms established by nongovernmental entities. a. True b. False 4. A person who follows the deontological theory will produce inconsistent decisions because they are be based on the individual's choices a. True b. False 5. The utilitarian theory of ethical behavior is a belief in time-and-place ethics, that is, ethical truths depend on the individuals and groups holding them. a. True b. False 6 In rule utilitarianism, a person makes ethical decisions that benefit the maximum number of people and is not so concerned about laws. a. True h False aragra... Times New ... 11 B 7 U A A ULIK FEE 6. In rule utilitarianism, a person makes ethical decisions that benefit the maximum number of people and is not so concerned about laws. a. True b. False When applying deontological theory to an ethical dilemma, the decision on how to act is based upon weighing the alternatives and then choosing the solution which is the lesser of the perceived evils. a. True b. False Page 1 aragra... Times New 11 B ZU A - A. 1. A target market is a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges. a. True b. False Social change is one of the easiest external variables for marketing managers to forecast and assimilate into marketing plans a. True b. False A component lifestyle refers to one in which consumers choose products and services that conform to traditional demographic stereotypes a. True b. False A person's values determine what is important and not important, which actions to take or not to take, and how one behaves in social situations. a. True b. False 15 From a contemporary marketing perspective, it could be said that a person's profession is the only factor that defines his or her lifestyle a True b. False As a means of product promotion, unlike television, social media enable firms to create conversations with customers and establish meaningful connections. a True b. False As a means of product promotion, unlike television, social media enable firms to create conversations with custome establish meaningful connections. a. True b. False 7. Gen Xers have lower average incomes than their Millennial and Baby Boomer counterparts. a. True b. False Page 1 Paragra... Times New 11 B U A 1. Global marketing is a one-way street whereby only U.S. companies sell their wares and services throughout the world. a. True b. False 2. Globalization expands economic freedom, spurs competition, and lowers the productivity and living standards of people in countries that open themselves to the global marketplace. a. True b. False 3. If a country can boost exports and limit imports, then fewer jobs are created and there is more competition for local businesses a. True b. False 4. Using a capital-intensive technology refers to spending less money for equipment than labor in the production process. a. True b. False 5. The ability of multinationals to tap financial, physical, and human resources from all over the world and combine them economically and profitably can benefit any country a. True b. False Traditionally, companies utilizing a multidomestic strategy enable individual subsidiaries to compete independently in domestic markets True b. False cuny.edu/bbcswebdav/pid-51421444-dt-content-rid-404369703_1/courses/BMCO1_MAR_100_1100_1209_1/MAR%20100%2 ction to marketing.docx elp Unsaved changes Edits will not be automatically saved. Save now List Paragra... Times New ... - 11 BIU A. A JE 7. Average family incomes are higher in more developed countries than in less developed countries. a. True b. False Page 1 Paragra... Times New ... 11 7 U . A- EEEEE 1 In terms of making a purchase, the value of a product can derive from an enduring belief shared by a society that a specific mode of conduct is personally or socially preferable to another mode of conduct. a. True b. False 2 Buying a car is generally an unplanned activity and stopping by a sandwich shop to satiate one's hunger is a planned activity a. True b. False 3. The Internet has changed the quality of information available to make purchase decisions. a. True b. False Waving too many choices can confuse consumers and cause them to delay the decision to buy, or in some cases, cause not to buy at all a True b. False 5. Internal stimuli are influences from an outside source, and external stimuli are occurrences you experience. a True b. False 6. Need recognition generally is not triggered by a consumer's exposure to an external stimulus. a. True b. False LL LLLILU-404369703_1/courses/BMC01_MAR_100_1100_1209_1/MAR%2010 marketing.docx Jnsaved changes Edits will not be automatically saved, Save now d. Times New ... 11 B I U A. A. 3 7. How well a consumer's expectations are met from a product determines whether the consumer is satisfied or dissatisfied with the purchase. a. True b. False Page 1 Unsaved changes Edits will not be automatically saved. Save now Paragra... Times New ... 11 B 7 A 1 The size of the business market in the United States and most other countries substantially exceeds that of the consumer market. a True b. False The key characteristic distinguishing business products from consumer products is their intended use, not their physical form. a. True b. False 3. A consumer product is also known as an industrial product. a. True b. False 4. Items such as forklifts are more commonly sold as consumer goods than as business products. a. True b. False Federal, state, and local buying units account for the greatest volume of purchases of any customer category in the United States a. True b. False Original equipment manufacturers or OEMs include all individuals and organizations that buy business goods and incorporate them into the products they produce for eventual sale to other producers or to consumers. a True b False UU ULCINCOUVPU 31421444-11-content-rid-404369703_1/courses/BMC01_MAR_100_1100_1209_1/MAR%20100%20-% to marketing.docx Unsaved changes Edits will not be automatically saved. Save now agra... Times New ... 11 A- 7 Derived demand means that an increase or decrease in the price of the product will significantly affect demand for the product. a. True b. False Page 1 Paragra... Times New 11 B 7 U A A EEEEE points each for a total of 25 points. Question#1 1) Describe strategic planning. Question #2 2) Identify and describe the three levels of ethical development. Question # 3 3) Explain the concept of a marketing mix and why firms must alter their marketing mix. Question #4 4) Discuss the impact of international trade on the United States. Question #5 5) Discuss the importance of understanding consumer behavior