442 T1. MC - Flashcards | StudyHippo.com

question

Marketing is defined as an exchange between a firm and its customers. (T/F)

answer

True

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Customers typically do not mind paying for purchases (T/F)

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True

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Marketers try to figure out what customers want and then they try to figure out how to provide it and make money doing so. (T/F)

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True

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In an exchange, the customer wants something from the company but the company wants nothing from the customer. (T/F)

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False

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Companies like taking in profits more than they care about their customers. (T/F)

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False

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The term "market" sounds like it involves selling simple, tangible goods, but as you know, hardly anything can be marketed. (T/F)

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False

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Marketers help athletes, celebrities, and politicians with their images in their respective marketplaces (to fans and agents, intelligentsia, or the public). (T/F)

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True

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Some things that can be marketed include goods, services, experiences, events, and people. (T/F)

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True

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These days we live in a truly product-oriented and product-empowered marketing world. (T/F)

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False

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Many management gurus believe that marketing has succeeded so well that it really isn't a function in an organization anymore. (T/F)

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True

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Diana is the marketing vice president at Company ABC. As she assesses any particular business problem or opportunity in terms of general analysis, she should review the 5Ps. (T/F)

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False

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One of the factors currently stressing marketers is the pressure to show results (T/F)

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True

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Marketing management is the overseeing of the process of the 5C, STP, and 4P components (T/F)

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True

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You'll always be a step ahead of your competition if you simply think about your company. (T/F)

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False

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The 5Cs, STP, and 4Ps operate interdependently (T/F)

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True

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Every purchase begins with an assessment of convenience or wants (T/F)

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False

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Buyers look for possible products and try to find information to guide them as to which might be the best brand for their unique situation. (T/F)

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True

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The buying process varies depending on whether the buyer is a consumer or a business. (T/F)

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False

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B2B marketers have identified four kinds of purchases. (T/F)

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False

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Cultural and social factors heavily influence differences in customer preferences (T/F)

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True

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Great marketing is based on sound, logical—emotional and physical—laws of human and organization behavior. (T/F)

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False

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Country, culture, and subculture influence consumer purchases but NOT organizational purchase decisions. (T/F)

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False

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Marketers try to figure out what _____ want and then they try to figure out how to provide it and make money doing so.

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customers

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Which of the following is defined to be an exchange between a firm and its customers?

answer

marketing

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If companies are good and if they're lucky, the exchange continues iterating between the customer and the company, _____ the tie between them.

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strengthening

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Marketers help/work with all of the following EXCEPT

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All can be helped by marketers (athletes, hotels, department stores)

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On what did the early marketplace primarily focus

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product

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Today's marketplace is focused more on

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customers

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Marketing is thought to be evidence of an evolved

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market

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What is the result companies see from happier customers due to marketing?

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companies are more profitable

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The letters CMO represent

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Chief Marketing Officer

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Advertising's goal is to enhance

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brand image

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Which of the following is not part of the 5Cs

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corporation

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A company's marketing executives should assess the _____ in terms of a general analysis of a business problem or opportunity the company is facing.

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5Cs

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Which of the following is NOT a part of STP?

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All are part of STP (segmentation, positioning, targeting)

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The 4Ps include all of the following except

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positioning

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Fundamentally, the best marketers put themselves in the place of their

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customers

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What order is correct for a situation analysis

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5Cs, STP, 4Ps

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What kind of customer is an agent buying something on behalf of an organization?

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business

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Which approach assumes that a customer would compare all the possible brands along the attribute or dimension that is most important to them?

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lexicographic

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B2B marketers have said there are three kinds of purchases - new buy, modified rebuy, and

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straight rebuy

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Which of the following is NOT involved in a B2B purchase?

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administrator

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Brian is a recent college graduate employed as a sales representative at a medical equipment company. Brian's boss, the VP of marketing, is explaining the concept of "buying centers" in B2B marketing. His boss indicates that with big, expensive, complicated business purchases, it's not just one person making the decision and that each purchase involves a half dozen or so roles. Further, the VP says that person who first kicks-off the purchase process is the

answer

initiator

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Jon works for Company ABC in the accounting department and is asked to work with the shipping & receiving department as this department considers several options for a new inventory management computer system. Jon most likely plays which role in the purchase decision?

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gatekeeper

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Ed works for Company ABC as a shipping & receiving department manager. Ed most likely plays which role in Company ABC's purchase of a new inventory management computer system?

answer

buyer

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Pete works for Company ABC as a shipping & receiving department clerk. He picks orders and ships them to customers using the company's current inventory management system. On several occasions, he has mentioned to management that the current system has some glitches. Pete most likely plays which role in the purchase decision?

answer

initiator

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The various factors that impact how buyers form impressions and preferences, collect information, and make brand choices do NOT include

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climate factors

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Customers go through predictable stages when they make a purchase. (T/F)

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True

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Marketers can create desires in people that they didn't previously have. (T/F)

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True

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A new MBA: student and a recently promoted corporate executive will typically have the same wants. (T/F)

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False

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During the purchase phase, a consumer will consider all brands available in the market. (T/F)

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False

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The pre-purchase phase includes identifying the need or want, searching possible solutions, and building a consideration set. (T/F)

answer

True

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During the purchase phase, the consumer might ask himself, "What attributes don't I care about, and therefore will not pay high prices?" (T/F)

answer

True

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During the purchase phase, the consumer will ask herself, "Will I tell my friends what a great brand I've found?" (T/F)

answer

False

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Whether the buyer is a consumer or a business, the phases of the buying process itself is the same. (T/F)

answer

True

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John is a buying agent for Starbucks because he buys supplies on behalf of Starbucks. (T/F)

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True

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Going out to buy bread is the type of purchase that requires some thought or planning ahead of time. (T/F)

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False

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All purchase are the same (T/F)

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False

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An example of a specialty purchase would be a new smartphone. (T/F)

answer

True

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An example of a modified rebuy is when the copier lease comes up and you want to try a different vendor. (T/F)

answer

True

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A high customer involvement B2C purchase is called a specialty purchase. (T/F)

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True

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During higher involvement purchases, we would expect customers to be more price sensitive. (T/F)

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False

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It's important for low-involvement products to be widely available so the customer can pick them up without thinking. (T/F)

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True

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Consumers can be simple or complex. (T/F)

answer

True

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People are selective in their attention to environmental stimuli. (T/F)

answer

True

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Colors do not have any cultural meaning. (T/F)

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False

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The sound of a Mac vs. a PC starting up is an example of how sound or music is important to marketers. (T/F)

answer

True

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Sight, sound, smell, taste, and touch are all used by marketers. (T/F)

answer

True

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Marketers use subliminal advertising all the time because they know it works very well. (T/F)

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False

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An ad for dog treats on the side of the home page of dog.com is an example of perceptual fluency. (T/F)

answer

True

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Learning is when associations of sights or sounds get stored in short-term memory after many repetitions. (T/F)

answer

False

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The jingle, "Two all-beef patties..." is an example of the use of operant conditioning. (T/F)

answer

False

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Operant conditioning relies on behavior that is positively reinforced. (T/F)

answer

True

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Starbucks has a loyalty program that gives you a free drink after every 5 purchases. This is an example of a fixed ratio reinforcement schedule. (T/F)

answer

True

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Marketer's use Abraham Maslow's hierarchy of needs by identifying their product with a certain level. (T/F)

answer

True

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Marketers use Maslow's hierarchy of needs to offer an extended brand line so the consumer can start high on the pyramid and work his way down. (T/F)

answer

False

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Utilitarian vs. hedonic products means fulfilling needs vs. wants. (T/F)

answer

True

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A risk-averse consumer may be an avid customer, very knowledgeable, an opinion leader, and they may wish to try the newest that the market has to offer. (T/F)

answer

False

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What motivates consumers is important to marketers. (T/F)

answer

True

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An example of importance weights are Mercedes are fast, they're nice to look at, and they're expensive. (T/F)

answer

False

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When it comes to beliefs and importance weights, marketers try to strengthen positive attitudes about their brand through learning and appealing to consumer motivations that their brand satisfies the consumer's needs. (T/F)

answer

True

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When a consumer looks at the most important attribute of a brand first, and eliminates all brands that do not have this attribute, he is using a lexicographic approach. (T/F)

answer

True

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Some socio-cultural effects how consumers respond to brands are social class and age. (T/F)

answer

True

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Old monied people indulge in conspicuous consumption. For example buying a yellow Mustang to show off their wealth. (T/F)

answer

False

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The current trend in age-related marketing has to do with marketing more towards the older, baby-boomer generation. (T/F)

answer

True

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It's pretty simple to market for various ethnicities and countries since they have similar perspectives. (T/F)

answer

False

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Young women are the main buyers of luxury brands in South Korea. (T/F)

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True

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During the ____ phase of the purchase process, the customer identifies that something is lacking.

answer

pre-purchase

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During the purchase phase for a new computer, Larry creates a _____ that includes Apple's Macbook Pro and Microsoft's Windows 7, but does not include Linux systems.

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consideration set

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Which phase of the purchase process generates word of mouth?

answer

post-purchase

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Whether the buyer is a consumer or a business, the buying process is ____.

answer

consistent

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A ____ item is something that is purchased without much thought before the purchase.

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convenience

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A straight rebuy, like when the office needs more paper, is common for ____ customers.

answer

B2B

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The different types of purchases are different because ______.

answer

of differences in the mind of the customer

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Customer involvement is ____ on a B2C specialty purchase.

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high

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A customer would be more price sensitive when buying gum than when buying ____.

answer

a laptop

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A customer loyalty program for high-involvement products would take the form of ____.

answer

brand communities

question

Which products need to be widely available so the customer can pick them up without thinking?

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low-involvement products

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The promotion for a high-involvement purchase will have a lot more ____ associated with it.

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information

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If you are not in the market for a new house, you will most likely ____ ads for new houses.

answer

ignore

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If a marketer wants a customer to have a higher motivation to learn more about a product, he should do what?

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create customer involvement

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Why is Dell's darker, deep blue color trademarked?

answer

the blue color is well associated to Dell's brand

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Colors convey cultural meaning. In the U.S. brides wear white because it symbolizes ____.

answer

purity

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What type of music should be played during an ad if a marketer wants consumers to spend more?

answer

energetic, with a quick tempo

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Why are consumers willing to spend so much more for a Harley over a Honda motorcycle?

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the distinct sound of a Harley

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Why do women who work the cosmetic counters in department stores wish to spray you?

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to appeal to your sense of smell, and make you remember the product

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What is a classic marketing exercise that is used to declare that one's own product is superior to the market leader?

answer

blind taste tests

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Creating well-designed products is the predominant way of conveying brand imagery through ____.

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touch

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Which of the following is NOT an example of design?

answer

pleasant smell

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When an ad is shown for such a short time that doesn't meet the threshold of consciousness, it is called _____.

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subliminal

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_____ is subtle phenomenon that uses colors and fonts to affect how the message feels.

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perceptual fluency

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Sensory and perceptual impressions can become ____.

answer

brand associations

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Learning is the process by which associations get past the sensory and perception stages into _____.

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long-term memory

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With repetition and elaboration, associations can get into ____.

answer

long-term memory

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Ivan Pavlov and his salivating dogs is an example of what type of learning process?

answer

classical conditioning

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Which of these is an example of stage 4 of classical conditioning?

answer

the bell rung in front of the dog elicits drool

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Philip Morris recently changed their name to Altria ____.

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so they could remove the negative association with their name

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B.F. Skinner discovered ____ with his studies on pigeons pecking at a target to get a food pellet.

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operant conditioning

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Operant conditioning is based on _____.

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positive reinforcement

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Marketers use Maslow's hierarchy of needs by _____.

answer

identifying their product with a certain level of needs

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If a marketer is focusing on people who _____, he will promote a popular brand.

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like to conform

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What are a mix of beliefs and importance weights?

answer

attitudes

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Marketers typically classify customers by ____ on a given purchase.

answer

how much they care about

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John is considering buying a new car. It's important to him that the car has bluetooth. If the car he looks at doesn't have bluetooth, then he will not consider it for purchase. This is an example of a ____ mechanism.

answer

non-compensatory

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People tend to associate and marry people of the same ____.

answer

social class

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The baby boomer generation is societal minded, so it is expected that we see large scale ____.

answer

alturism

question

China's rising economy is creating a large demand for ____.

answer

luxury goods

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