Business - Marketing* Quiz Level 3

The Six Sigma methodology

Many management gurus believe that marketing has succeeded so well that it shouldn't be a function in an organization anymore

3

Studies have shown that women tend to spend more when shopping a group than when shopping alone

4

When designing documents with HTML coding the actual font properties and descriptions of how the text is being used are known as

5

The aided recall approach, as the name implies, is intended to overcome respondents' unwillingness to respond to particular questions

6

How does marketing research differ when conducted in other countries?

Sociocultural, economic, political, legal, and technological forces vary in different regions of the world. These variations create challenges for the organizations that are attempting to understand foreign customers through marketing research. While the marketing research process is generally the same around the world, some regional differences exist. To make certain that firms are sufficiently aware of global and regional differences, many companies retain a research firm, or at least a researcher, with experience in the country of interest. Most of the largest marketing research firms derive a significant share of their revenues from research conducted outside the United States. For example, the Nielsen Company, the largest marketing research firm in the world, is a U.S. company but has a market presence in over 100 different countries.

7

Bayer AG agreed to pay $46 million as part of a law settlement for conspiring with Archer-Daniels-Midland (ADM) to keep prices of citric acid at a certain level. These two international companies were guilty of ________.

8

Explain the four primary areas under which a company should analyze its strengths and weaknesses as part

The popular SWOT analysis (strengths, weaknesses, opportunities, and threats) interprets the internal (company
strengths and weaknesses) and external (market opportunities and strengths) marketing environment. The
competitive comparison framework compares the strengths and
weaknesses of principal competitors. The framework does not compare opportunities and threats directly, because
these are often very similar across the principal competitors, resulting in little additional insight. If the marketing
plan format of the organization demands a typical SWOT four quadrant diagram, it is a simple matter to append
market opportunities and threats to the strengths and weaknesses. An organization's strengths and weaknesses, as
the names imply, are areas where it is superior or inferior, respectively, to its competitors. One can gain insight into
competitors by evaluating strengths and weaknesses in four primary areas: people, culture, company reputation,
and customers.
• People: Dynamic, visionary leaders can be an overwhelming strength for an organization. Not only does their
superior strategy lead the company in the right direction, their charisma can propagate throughout the
organization, resulting in the entire company pulling together.
• Culture: A company's culture is defined as the set of shared experiences, beliefs, and norms that characterize an
organization. Organizations with achievement oriented cultures, where optimism and "can-do" attitudes rule, are
generally much better set up for success than those with pessimistic or indifferent cultures.
• Company reputation: Positive reputations are earned by doing the right thing over extended periods of time.
Reputations set companies apart from their competitors.
• Customers: Loyal, happy customers are a source of strength for a company. Their loyalty ensures a steady income
stream as they purchase new products and services from the company. They share their happiness with word of
mouth recommendations to others, boosting sales from nonusers of the brand. Some customers, like those of
Harley-Davidson and Apple, even tattoo the brand's logo on their arms.

9

Stepwise procedures result in regression equations that are optimal, in the sense of producing the largest R2, for a given number of predictors

10

Advertising, publicity, and public relations are all aspects of

11

Department stores attempt to accomplish the benefits of both centralization and decentralization in which retail organizational form?

12

Which of the following would most likely be included in an executive's write up of a new product idea to be presented to a new product committee?

13

In the Japan-VALS framework, primary motivations include ________

14

Americans value hard work and achievement while Japanese citizens value harmony and hierarchy. This shows a difference in ________ factors.

15

People are the most common test units in most marketing experiments.

16

Marketing researchers use standard scales rather than inventing new ones for each research project. Discuss and differentiate among the Likert scale, semantic differential scale, and the Stapel scale. Why should the scale fit the construct?

Students should be able to differentiate among the Likert scale, semantic differential
scale, and the Stapel scale in clear, concise terms. Comments should state that the Likert scale is
one in which respondents are asked to indicate their degree of agreement or disagreement on a
symmetric agree-disagree scale for each of a series of statements. That is, the scale captures the
intensity of their feelings toward the statement's claim or assertion because respondents are asked
how much they agree or disagree with the statement. Comments will add that with the Likert
scale, it is best to use "flat" or plain statements and let the respondent indicate the intensity of his
or her feelings by using the agree-disagree response continuum position. Semantic differential
scales should b described as a specialized interval scale format that has sprung directly from the
problem of translating a person's qualitative judgments into metric estimates. Comments should
differentiate between the Likert scale by saying that the semantic differential scale is one
borrowed from another area of research-semantics. The semantic differential scale contains a
series of bipolar adjectives for the various properties of the object under study, and respondents
indicate their impressions of each property by indicating locations along its continuum. The
focus of the semantic differential is the measurement of the meaning of an object, concept,
person, or experience. Students should discuss the Stapel scale as one that relies not on bipolar
terms but positive and negative numbers, typically ranging from +5 to -5
The scale may or may not have a neutral zero. The Stapel scale is easier to construct than a
semantic differential scale because the researcher does not need to come up with bipolar
adjectives for each attribute. It is also flexible to administer, as respondents do not need to "see"
the scale the way they do when responding to a semantic differential scale. However, to use a
Stapel scale properly, respondents must feel comfortable with the use of negative numbers.
All answers should note that choosing the correct scale to fit a construct is difficult and that
researchers rely on "tried and true" formats that they apply from study-to-study. Students should
mention that adopting a preferred question format expedites the questionnaire design process.
(Selecting a standardized scaled-response form that has been used in several studies, there is no
need to be creative and invent a new form.) Adopting a preferred question format saves both
time and costs. They should also mention that testing a standardized scaled-response format
across several studies offers the opportunity to assess its reliability as well as its validity.

17

Data that can be developed through surveys, experiments, observation, and simulation are _____

18

Some manufacturing companies prefer to sell only high-priced specialty products online because:

19

A component of brand engagement for e-commerce is customization, which welcomes a person back to a website by name

20

In the purchase of a new papermaking machine, what role would the firm's manufacturing superintendent assume in the buying center?

21

Five stages of information processing described by Hofacker (2000) are

22

A celebrity endorser is used in advertisements because his or her stamp of approval offers all of the following advantages except:

23

Which of the following is a predominant concern relating to social media?

24

Total logistics costs refer to

25

Phishing is defined as:

26

A(n) _____ is an online journal for an individual or organization

27

Marketing that links a company or brand with a cause, such as environmental protection or children's health, is called:

28

A nonprofit food bank was handing out food to anyone who requested it on a weekly basis. It now wants to give free food only to people who go hungry on a daily basis. This will be the market segment it targets. How does the formation of its market segments differ from the strategy used for a retail store?

29

How might a technology company like Apple ensure that it behaves in a socially responsible way toward its employees?

30

A _____ is a business structure of interdependent organizations that reaches from the point of product origin to the consumer.

31

Which of the following generated an estimated 25 percent share of the global gross domestic product, making it the largest economy in the world in 2014?

32

Scenario 6.1 Use the following to answer the questions. Consumers use information from many sources when making purchasing decisions, including information from friends and family members. One of the most dissatisfying consumer experiences is with auto repair. Aware of this, Kate has asked several of her friends and family members where they have their cars repaired, since she has experienced a problem starting her car when the weather is cold. Kate has heard that Skola's Auto Repair has reasonable prices, but it can be difficult to get an appointment. Steve, one of Kate's friends, had a very poor experience with Skola's. However, once he complained to them, they fixed the situation and now he prefers their auto repair shop over others. Refer to Scenario 6.1. Positive feelings generated

33

In the context of business products, which of the following is a difference between major equipment and accessory equipment?

34

Social networking sites that compete directly with Facebook have a difficult time surviving; however, LinkedIn has survived by focusing on the needs of business professionals, who seek to network with colleagues, share their expertise, post online résumés, and look for new jobs. Write a value proposition for LinkedIn.

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Business - Marketing* Quiz Level 3

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