Which of the following is most likely NOT a true statement about baby boomers?

The baby boomer generation started being born in the years immediately following World War

They are the wealthiest generation in U.S. history.

They constitute the smallest demographic group in the United States.

The youngest baby boomers are aged in their late 50s.

They account for the majority of the luxury travel spend in the U.S.

Tyler's Candy Company is revamping its mission statement. The CMO stresses that the new
mission statement should be market-oriented rather than product-oriented. Which of the
following mission statements will best suit the company?

to spread fun to customers through products suited to their needs

to increase profit margins

to create the best possible products and sell them at the best possible prices

to become the market leader in the candy category

to sell sweet treats made from only sustainable materials

Matthew has finally saved up enough money to purchase the snowboard that he has been
admiring for the past year. Matthew's “want” has most likely become a(n) ________.

objective

demand

need

opportunity

core value

Annabel purchased a new flavor of ice cream. After taking her first bite, she realized it was much
more sour and thick than she had expected. By comparing her actual experience with her initial
expectations, Annabel is assessing her level of ________.

value creation

brand loyalty
customer equity

customer satisfaction

market share

Tyler's Candy Company is collecting information that already exists for a prior purpose. This type of
information is also known as _________.

customer equity

big data

ethnographic information

secondary data

usability data

Mia is planning strategies to improve the profitability of her firm's least profitable but loyal customers.
She is also examining methods for "firing" customers in this group who cannot be made profitable.
Currently, these customers are likely considered to be in which relationship group?

dogs

strangers

barnacles

resellers

cash cows
Victor's Furniture Company has a number of marketing intermediaries. These entities are considered
to be part of the company's ________________ .

strategic business unit

microenvironment

psychographics

macroenvironment

business portfolio

3D printing and on-demand capabilities are increasing domestic manufacturing. This is an example of
a (an) __________ that can that can affect any firm.
social force

regulatory force

technological force

political force

economic force

Which of the following statements is true in the context of the BCG Business Portfolio Analysis
model?

The income from one SBU cannot be used to support other business units.

The positions of SBUs in the growth-share matrix rarely change over time.

Stars often need heavy investment to finance their rapid growth in a market.

Dogs are typically large sources of cash.

Cash cows typically turn into stars.

In anticipation of launching a new line of sheets and pillows, Victor's Furniture Company is planning
to conduct research on couple's bedtime habits and preferences. Since respondents are likely to
consider this information personal and private, the company wants to select a contact method that will
encourage respondents to answer honestly. Which of the following contact methods is most likely to
serve the company's purpose?

online discussions

telephone interviews

individual interviews

mail questionnaires

focus group interviews

Tyler's Candy Company will be said to have ___________ if the company focuses excessively on its
existing market offerings and ignores shifting customer needs.

a production concept

marketing myopia
barnacles

ethnographic errors

macroenvironmental dissonance

Which of the following statements about Net Marketing Contribution (NMC) is true?

NMC is used to calculate Marketing Return on Sales and Marketing Return on Investment.

NMC helps determine whether a firm’s current marketing strategy is enough to cover the costs
associated with its research & development budget.

NMC is used to determine whether a marketing plan reaches its communications goals.

NMC is expressed as a percentage.

NMC is calculated by adding a firm’s marketing and sales expenses to its gross profits.

An organization that focuses its efforts on continuously collecting information about customers' needs
and competitors' capabilities, sharing this information across departments, and using the information
to create customer value is said to __________________.

have a market orientation

have a nonprofit orientation

stress the societal marketing concept

be utilizing consumerism

have a focus on niche marketing

Mia is a highly profitable customer for Ursula's Hat Company, but not very loyal. As a result, the
company likely classifies Mia as a ________ .

question mark

market offering

true friend

stranger

butterfly
Which of the two SWOT elements are considered mostly internal and which are considered mostly
external?

Opportunities and Weakness are internal / Strengths and Weaknesses are external

Opportunities and Strengths are internal / Weaknesses and Threats are external

Strengths and Threats are internal / Opportunities and Weakness are external

Strengths and Weaknesses are internal / Opportunities and Threats are external

None of the SWOT elements are considered internal / all SWOT elements are considered mostly
external

Tyler's Candy Company believes that consumers will favor their products consumers will favor their
products if they are more widely available and more affordable than their competitors' products.
Which marketing management orientation does the company likely follow?

the product concept

the production concept

the marketing concept

the societal marketing concept

the selling concept

The challenges of ___________ include its scale, forms, speed, and uncertainty.

the macroenvironment

marketing research

big data

the Can-SPAM Act

marketing management orientations

Which of the following is NOT part of Tyler's Candy Company's microenvironment?

the activities of competitive companies

the customers who buy products from the company

the suppliers that work with the company

the economic conditions of the country in which the firm operates

Which of the following statements about U.S. adults is NOT true?

On average, U.S. adults are living longer.

The privacy of all U.S. adults is protected through CCPA legislation.

On average, U.S. adults are more educated than they were 30 years ago.

U.S. adults face growing income inequality.

The U.S. population is becoming more diverse.

Which of the following is most likely to harm a company during a Recession?

maintaining its advertising budget

focusing advertising messages on family values

maintaining its marketing research spending

focusing on retaining market share

launching new, innovative products

Which of the following is an example of ethnographic research?

Susan's Chocolate Company uses Google to research the customer reviews for a competitive chocolate
brand.

Rutgers Business School conducts a survey via email.

Victor's Furniture Company quietly observes shoppers' natural behavior as they walk through their
stores.

Tyler's Candy Company hosts an online focus group.

Ursula's Hat Company runs a sale on beanies and assesses whether it has an impact on mitten sales.

Susan's Chocolate Company is planning to conduct marketing research. What should be the most
important step in the company's marketing research process?

developing a research plan for collecting information

implementing the research plan

defining the problem and research objectives

developing customer insights

managing big data

Tyler's Candy Company sells most of its candy in New York, where its headquarters is located. Which
of the following indicates that the company is following a market penetration strategy?

The company starts an influencer marketing program to further boost its candy sales in New York.

The company introduces a new line of toys in Florida.

The company purchases advertisements to introduce its candy to consumers in Florida.

The company introduces a new line of toys in NewYork.

The company invests in new question marks.

Tyler's Candy Company is working to calculate its ________, the total combined customer lifetime
values of all the company's current and potential customers.

share of customer

Net Marketing Contribution (NMC)

customer equity

core value

Return-on-Sales (ROS)

Which of the following terms refers to a customer's evaluation of the difference between all the
perceived benefits and all the perceived costs of a market offering relative to those of competing
offers?

value

veracity
lifetime value

customer satisfaction

exchange