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Olay’s promotions for its Total Effects cleansing cloths

Olay’s promotions for its Total Effects cleansing cloths, which fight signs of aging, are targeted toward

Select one:

a. Generation Z.

b. Generation Y.

c. baby busters.

d. baby boomers.

e. echo-boomers.
Effective marketing benefits society because it

Select one:

a. makes countries more competitive in world markets while simultaneously reducing competition in their home markets.

b. improves the quality of products and services regardless of the cost.

c. allows companies to charge whatever price they want, regardless of product quality.

d. reduces competition, making the playing field more even.

e. enhances competition, which improves the quality of products and services and lowers their prices.

Question 3

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With respect to the history of American business, the __________ era immediately followed the sales era.

Select one:

a. market orientation

b. customer relationship

c. promotion

d. marketing concept

e. production

Profit refers to

Select one:

a. the total amount of revenue accrued through product sales or service distribution.

b. the money left over after a business firm’s total expenses are subtracted from its total revenues.

c. the difference between the list and final price of a product or service.

d. the money earned when the economic order quantity is minimized.

e. the point at which a company’s assets equal its liabilities plus shareholder equity.

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At the functional level, the marketing department

Select one:

a. promotes its goals to the organization’s stakeholders.

b. solicits talent from all levels of the organization for strategic corporate planning sessions.

c. defines the overall strategic direction of the organization.

d. looks outward, in part by listening to customers.

e. develops the corporate culture.

Question 6

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Environmental trends come from all of the following forces EXCEPT:

Select one:

a. geographical.

b. competitive.

c. regulatory.

d. social.

e. economic.
The four Ps of the marketing mix are

Select one:

a. predict, produce, package, and persuade.

b. priorities, personnel, placement, and profits.

c. prediction, production, pricing, and promotion.

d. product, price, promotion, and place.

e. product, price, production, and place.

Question 8

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The goal of a SWOT analysis is to

Select one:

a. identify market research questions in order to develop new products for new market segments.

b. identify the critical strategy-related factors that can impact the firm.

c. fairly allocate governmental resources and financial aid across the industry.

d. reorganize the firm’s marketing department.

e. determine how raises, bonuses, and dividends will be paid.

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Once a company has decided to enter the global marketplace, it must select a means of market entry. Four general options exist: (1) exporting; (2) licensing; (3) joint venture; and (4) __________.

Select one:

a. direct investment

b. microfinancing

c. cooperative

d. unilateral venture

e. franchising

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All of the following are sources of primary data EXCEPT:

Select one:

a. experiments.

b. government publications.

c. panels.

d. observational data.

e. social media.

Question 11

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Because there are few sellers, price competition among firms is not desirable for them in which form of competition?

Select one:

a. monopolistic competition

b. a monopoly

c. an oligopoly

d. cross-market competition

e. pure competition

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Two important disadvantages of secondary data are __________ and __________.

Select one:

a. tailor-made to specifications; out of date.

b. none of the above.

c. low cost; saves time.

d. inexpensive; up-to-date.

e. not up-to-date; not specific enough for the project. Question13

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Market segmentation refers to

Select one:

a. aggregating prospective buyers into groups and selecting only those whose needs cannot be met by competitors’ products.

b. identifying small groups of customers with dissimilar needs.

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

d. aggregating different products into more reasonable product groupings to better serve consumers’ needs.

e. aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action.

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A general rule of thumb among marketing researchers is to use __________ first and then collect _________.

Select one:

a. external secondary data; internal primary data

b. internal primary data; external primary data

c. secondary data; primary data

d. observational data; questionnaire data

e. primary data; secondary data

Question 15

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A competitive advantage refers to

Select one:

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

b. a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.

c. actions taken by a firm with the sole intent of putting a competitor out of business.

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

e. those characteristics of a product that make it superior to competitive substitutes. Question16

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In 1962, President John F. Kennedy outlined a Consumer Bill of Rights that codified the ethics of exchange between buyers and sellers. These were the right: (1) to safety; (2) __________; (3) to choose; and (4) to be heard.

Select one:

a. to be treated with respect

b. to be informed

c. to privacy

d. to be treated without prejudice

e. to receive fair prices for both products and services

Question 17

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The combined American Marketing Association’s 2004 and 2007 definitions of marketing used in the textbook define marketing as

Select one:

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