25.Apple recently introduced the iPhone to great fanfare. Many corporate users have found that it does not sync with their servers, thus not allowing users to download from his or her company email account. When the phone was introduced, many users could not immediately activate the phone. Based on these examples, it would seem that Apple should have adopted more stringent __________ goals prior to releasing the iPhone.

A.technology

B.innovation

C.quality

D.service

E.satisfaction

26.Hasbro is a $3 billion toy company that prides itself on donating to organizations that help children, since children and their parents are the target market for the business. This is an example of how Hasbro participates in corporate

A.return on.

B.market share.

C.sales revenue.

D.unit sales.

E.social responsibility.

27.__________ are an organization's special capabilities, including skills, technology, and resources that distinguish it from other organizations and that provide value to its customers.

A.Accomplishments

B.Acquisitions

C.Capacities

D.Characteristics

E.Competencies

28.__________ is a unique strength relative to competitors, often based on quality, time, cost, or innovation.

A.Market penetration

B.Product differentiation

C.Competitive advantage

D.Business force

E.Organizational culture

29.Men's Wearhouse (MW) caters to the man who doesn't necessarily enjoy shopping. The stores are located in outdoor shopping centers so that customers can get in and out quickly. Additionally, the MW targets the budget-conscious consumer with suit prices ranging from $250 to $300. Earnings rose 23% recently, indicating that the location of the stores and the pricing strategy both are part of the MW

A.competitive advantage.

B.benchmarking expertise.

C.tactical innovation.

D.leapfrogging capabilities.

E.viable mission.

30.For several years, advertisements for Arm & Hammer baking soda have prompted consumers to place an opened box of the product in the refrigerator to lessen food odor and to replace that box monthly. The same ads advise customers to pour the used box down their kitchen sinks to freshen drains. Arm & Hammer employed a __________ strategy in its attempt to sell more baking soda.

A.market penetration

B.market development

C.product development

D.diversification

E.product penetration

31.Which market-product strategy requires no change in the product but requires a company to seek out new customers in new markets?

A.market penetration

B.market development

C.product development

D.diversification

E.all of the above

32.When Walt Disney Co. opened new theme parks in Paris, Tokyo, and Hong Kong, it was using a ___________ strategy.

A.market penetration

B.product development

C.differentiation

D.diversification

E.market development

33.Which market-product strategy involves selling a new product to existing markets?

A.market penetration

B.market development

C.divestment

D.diversification

E.product development

34.When Johnson & Johnson develops complementary products to its existing product line, such as Tylenol PM it is appealing to its current market with a new product, using a ___________ strategy.

A.market penetration

B.product development

C.differentiation

D.diversification

E.market development

35.What is the marketing term for aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action?

A.aggregation marketing

B.market segmentation

C.market clustering

D.profiling

E.mass marketing

36.Studies of the __________ characteristics of the U.S. population suggest several important trends. Generally, the population is becoming larger, older, and more diverse. Marketers are developing products that will appeal to these target markets.

A.competitive

B.regulatory

C.geographic

D.demographic

E.economic

37.Which of the following statements about baby boomers is most correct?

A.Their participation in the workforce and their earnings have increased.

B.They are an important consumer market.

C.Boomers are concerned about their own health and their retirement.

D.Boomers are the generation of children born between 1946 and 1964.

E.All of the above statements are true of baby boomers.

38.Baby boomers are an important target market because they

A.include most of the important business leaders in the United States.

B.represent a small proportion of the population, but have large disposable incomes.

C.have the longest life expectancies; therefore, they will remain active in the market place for the longest period of time.

D.account for the majority of purchases of most consumer products and services.

E.are the base of the pyramid.

39.The set of values, ideas, and attitudes that are learned and shared among the members of a group are called

A.family values.

B.morals.

C.culture.

D.group values.

E.ethics.

40.__________ income is the total amount of money made in one year by a person, household, or family unit.

A.Inflationary

B.Discretionary

C.Disposable

D.Gross

E.Expendable

41.__________ income is the money a consumer has left after paying taxes to use for food, shelter, clothing, and transportation.

A.Net

B.Discretionary

C.Disposable

D.Household

E.Gross

42.The money that remains after paying for taxes and necessities is called __________ income.

A.net

B.discretionary

C.disposable

D.gross

E.expendable

43.Recently, the number of people who attended music concerts, plays, and other live entertainment increased, because many people believed they had the __________ income to enjoy such events.

A.gross

B.disposable

C.proprietary

D.discretionary

E.flexible

44.Discretionary income can be increased by

A.earning more money.

B.reducing savings.

C.reducing the cost of housing.

D.reducing the cost of insurance.

E.All of the above are ways to increase discretionary income.

45.__________ is a form of competition in which every company has a similar product.

A.Pure competition

B.Cross-market competition

C.Oligopoly

D.Monopolistic competition

E.Monopoly

46.The form of competition in which many sellers compete with their products on a substitutable basis is called

A.pure competition.

B.cross-market competition.

C.oligopoly.

D.monopolistic competition.

E.monopoly.

47.Coupons and sales are frequently used marketing tactics in which form of competition?

A.pure competition

B.cross-market competition

C.oligopoly

D.monopolistic competition

E.monopoly

48.AT&T, MCI, Verizon, and Sprint control approximately 80 percent of the $16 billion international long-distance telephone service market. These companies operate in a

A.monopoly.

B.cross-market.

C.pure competition position.

D.monopolistic competition position.

E.oligopoly.

49.__________ is the form of competition that occurs when only one firm sells the product.

A.Pure competition

B.Cross-market competition

C.Oligopoly

D.Monopolistic competition

E.Pure monopoly

50.The idea that organizations are part of a larger society and are accountable to that society for their actions is referred to as:

A.Code of Ethics

B.Moral Idealism

C.Cause Marketing

D.Utilitarianism

E.Social Responsibility