question

What is marketing?

answer

Marketing is a process of creating customer value.

question

In the final step of the five-step marketing model, companies __________.

answer

reap the rewards of creating customer value

question

The basic concept underlying marketing is that of __________.

answer

customer needs

question

__________ is the act of obtaining a desired object from someone by offering something in return.

answer

exchange

question

A brand's __________ involves the set of benefits or values it promises to deliver to consumers.

answer

value proposition

question

The __________ concept holds that consumers will favor products that are available and affordable.

answer

production

question

Customer relationship building blocks consist of __________.

answer

customer value and satisfaction

question

Although a "customer-centered" firm seeks to deliver high customer satisfaction relative to competitors, it __________.

answer

does not attempt to maximize customer satisfaction

question

Which is the fastest-growing digital marketing platform?

answer

Mobile marketing

question

__________ marketing is perhaps the fastest-growing digital marketing platform.

answer

mobile

question

the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

answer

marketing

question

__________ is the idea that consumers will favor products that offer the most quality, performance, and features; therefore, the organization should devote its energy to making continuous product improvements.

answer

product concept

question

demands are

answer

backed by buying power

question

describe product concept

answer

The idea that consumers will favor products that offer the most quality, performance, and features

question

what is the 4th step in the marketing process

answer

Build profitable relationships and create customer delight

question

shaped by culture and an individual's personality

answer

wants

question

__________ is the value of the entire stream of purchases a customer makes over a lifetime of patronage.

answer

customer lifetime value

question

what is the marketing concept

answer

A philosophy in which achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do

question

what is marketing management

answer

The art and science of choosing target markets and building profitable relationships with them

question

marketing is best described as the

answer

process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return

question

refers to a state of felt deprivation

answer

needs

question

what is customer equity

answer

The total combined values of all of the company's customers

question

__________ is the idea that consumers will not buy enough of the firm's products unless the firm undertakes a large-scale selling and promotion effort.

answer

selling concept

question

__________ is the overall process of building and maintaining profitable customer relationships.

answer

Customer relationship management

question

due to ___, marketers are increasingly emphasizing value

answer

the changing economic environment

question

the societal marketing concept is best described as

answer

the idea that a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests

question

Which term refers to the mistake of paying more attention to the specific products that a company offers than to the benefits and experiences produced by those products?

answer

marketing myopia

question

__________ are some combination of products, services, information, or experiences offered to a market.

answer

market offerings

question

Which of the following is the set of all actual and potential buyers of a product or service?

answer

market

question

customer-perceived value is the __

answer

customer's evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers

question

__________ is the extent to which a product's perceived performance matches a buyer's expectations.

answer

customer satisfaction

question

production concept is

answer

the idea that consumers will favor products that are available and highly affordable; therefore, the organization should focus on improving production and distribution efficiency

question

To create and capture customer value, companies must engage the first step of the marketing process, which is __________.

answer

understand the marketplace and customer needs and wants

question

Marketing was once understood in the sense of making a sale. Today, marketing is understood in the new sense of __________.

answer

satisfying customer needs

question

The key element of successful marketing today is to __________.

answer

create value

question

What is the final step in the marketing process?

answer

Capture value from customers.

question

Engaging customers and managing profitable customer relationships is the simplest definition of ________.

answer

marketing

question

You are thirsty and decide to have an iced tea. Your thirst is a ________ and your choice of iced tea is a ________.

answer

need; want

question

Which of the following correctly identifies the five core customer and marketplace concepts?

answer

(1) Needs, wants, and demands; (2) Market offerings; (3) Value and satisfaction; (4) Exchanges and relationships; and (5) Markets

question

The primary goal of consistently delivering superior value is to ________.

answer

build profitable customer relationships

question

In marketing terms, what is a market?

answer

The set of actual and potential buyers of a product or service

question

Market offerings include ________.

answer

products, services, and experiences

question

The actual and potential buyers in a market share which of the following characteristics?

answer

They share a particular need and/or want.

question

The first step to a successful value-driven marketing strategy is to determine whom to serve with a market offering. To make this decision, marketers engage in which two activities?

answer

Segmenting and targeting

question

What is the purpose of a value proposition?

answer

To differentiate and position a market offering in the marketplace

question

Which marketing orientation states that consumers will favor products that offer the most in quality, performance, and innovative features?

answer

The product concept

question

Which of the following uses a sense-and-respond philosophy to promote a customer-centered marketing orientation?

answer

The marketing concept

question

Companies such asIBM, Walmart, and Google now look beyond economic gain and, in their marketing strategies, they also consider the well-being of customers, the depletion of natural resources, the viability of suppliers, and the interests of the local community. This reflects which marketing philosophy?

answer

The societal marketing concept

question

What are the 4 Ps of marketing?

answer

Product, price, place, promotion

question

What is the key to building lasting customer relationships?

answer

Creating superior customer value and satisfaction

question

__________ is the customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers.

answer

Customer-perceived value

question

Which of the following is an accurate statement about building customer relationships in the modern marketing era?

answer

Building relationships through consumer-generated content is expensive and takes time.

question

The total combined lifetime value of a company's current and potential customers is called __________.

answer

customer equity

question

For which customer relationship group should a company make continuous relationship investments to delight, engage, retain, and grow them?

answer

True friends

question

In today's global environment, everything and everyone are digitally connected to everything and everyone else. The term used to describe this is __________.

answer

the Internet of Things

question

How has the Great Recession of 2008-2009 affected marketers in terms of consumer attitudes?

answer

Consumers are showing an enthusiasm for frugality.

question

Vince's Video has suffered in the current economy because fewer people have the money for videos and because more people use online streaming sites such as YouTube and Hulu. The videos that Vince's Video does sell are often outpriced by versions coming from China or Taiwan, or they are accused of being damaging to the environment. Which of the following marketing impacts has NOT affected Vince's Video?

answer

Not-for-profit marketing

question

The first step in strategic planning involves __________.

answer

defining the company's mission

question

A company's mission statement should be focused on __________.

answer

customers

question

The major activity in strategic planning is the analyses of a business __________.

answer

portfolio

question

Within the growth-share matrix, "cash cows" are __________.

answer

low-growth, high-share businesses or products

question

Each department can be thought of as a link in the company's __________.

answer

value chain

question

__________ plays a key role in the company's strategic planning.

answer

marketing

question

__________ involves evaluating each market segments attractiveness and selecting one or more segments to enter.

answer

Market targeting

question

__________ refers to activities that communicate the merits of the product and persuade target customers to buy it.

answer

promotion

question

In SWOT analyses, the favourable factors or trends in the external environment that the company may be able to exploit to its advantage are referred to as __________.

answer

opportunities

question

The most common form of marketing organization is __________.

answer

functional organization

question

The growth-share matrix defines four types of SBUs: Cash cows are __________.

answer

low-growth, high-share businesses or products

question

__________ refers to dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs.

answer

Market segmentation

question

__________ achieves company growth by starting up or acquiring businesses outside the company's current products and markets.

answer

diversification

question

________ achieves company growth by identifying and developing new market segments for current company products.

answer

market development

question

Which term refers to the marketing logic by which the company hopes to create customer value and achieve profitable customer relationships?

answer

market strategy

question

The growth-share matrix defines four types of SBUs: Dogs are __________.

answer

low-growth, low-share businesses and products

question

The growth-share matrix defines four types of SBUs: __________ are low-share business units in high-growth markets.

answer

Question marks

question

__________ involves measuring and evaluating the results of marketing strategies and plans, and taking corrective action to ensure that the objectives are achieved.

answer

marketing control

question

________ achieves company growth by offering modified or new products to current market segments.

answer

Product development

question

marketing return on investment is___

answer

the net return from a marketing investment divided by the costs of the marketing investment

question

Which of the following is a statement of the organization's purpose - what it wants to accomplish in the larger environment?

answer

Mission statement

question

market penetration achieves company growth by_

answer

increasing sales of current products to current market segments without changing the product

question

__________ is the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities.

answer

strategic planning

question

The growth-share matrix defines four types of SBUs: __________ are high-growth, high-share businesses or products.

answer

stars

question

A SWOT analysis is best described as__

answer

an overall evaluation of the company's strengths, weaknesses, opportunities, and threats

question

a value chain is best defined as__

answer

the series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products

question

__________ refers to turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives.

answer

Marketing implementation

question

What is the name for the process of arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers?

answer

positioning

question

which of the following describes a value delivery network

answer

Consists of the company, its suppliers, its distributors, and, ultimately, its customers who partner with each other to improve the performance of the entire system

question

what is the marketing mix?

answer

The set of tactical marketing tools - product, price, place, and promotion - that the firm blends to produce the response it wants in the target market

question

What does a company do to start the strategic planning process?

answer

Define its overall purpose and mission.

question

Mission statements should be defined in terms of satisfying basic customer needs. In other words, they should be __________.

answer

market oriented

question

After defining its mission, the next step in strategic planning is to __________.

answer

set company objectives and goals

question

What is the overall focus of strategic planning?

answer

To create a game plan for long-run survival and growth in consideration of changing marketing opportunities

question

In portfolio analysis, a company must identify __________, which are key businesses that make up the company.

answer

strategic business units

question

What are the two measurements used in the BCG matrix to classify strategic business units?

answer

Relative market share; market growth rate

question

The BCG matrix classifies products which have a high market share in a low growth market as __________.

answer

cash cows

question

According to the growth-share matrix, __________ are high-share, high-growth products. When the market growth slows these products become __________.

answer

stars; cash cows

question

Strategically, a company may phase out or sell an SBU. This is known as __________.

answer

divesting

question

To grow sales, Under Armour increased its spending on advertising by 35 percent to increase sales in its current markets. Which growth strategy does this represent?

answer

Market penetration

question

When Under Armour expanded its current products into global markets, it was pursuing which growth strategy?

answer

Market development

question

When a firm starts up or buys a business outside of its current product line and markets, it is pursuing which growth strategy?

answer

Diversification

question

One key role marketing plays in a company's strategic planning is to __________.

answer

provide a guiding philosophy

question

To improve the performance of the __________, many companies today are partnering with other members of the supply chain-suppliers, distributors, and customers

answer

customer value delivery network

question

In which way does increasing customer satisfaction disrupt the internal value chain?

answer

It can increase production costs, increase inventories, and disrupt production schedules.

question

What is the overall goal of marketing strategy?

answer

To create customer value and build profitable relationships

question

In determining which customers to serve, a company engages in which two marketing activities?

answer

Segmentation and targeting

question

Some retailers, such as the Dollar Store, Dollar Tree, and Family Dollar, profitably focus on buyers with modest means. This is an example of __________.

answer

market targeting

question

What does a market segment consist of?

answer

A group of consumers who respond to the marketing effort in the same way

question

Effective positioning is based on __________.

answer

differentiation

question

The four Ps of the marketing mix have been redefined in buyer's terms as the four As. Product design influences __________, price affects __________, place affects __________, and promotion influences __________.

answer

acceptability; affordability; accessibility; awareness

question

What are the main components of a marketing plan?

answer

An executive summary, situation analysis, objectives, marketing strategy, action programs, budgets and controls, and threats and opportunities

question

Which of the following is not one of the five marketing management functions?

answer

Customer service

question

The demand for organic produce is growing. Green Acres Farms grows only organic vegetables. In a SWOT analysis, the rising demand for organic produce would be a(n) __________ for Green Acres Farms, and the fact that they grow only organic vegetables is a(n) __________.

answer

opportunity; strength

question

Which of the following is a true statement regarding managing and measuring marketing return on investment (ROI)?

answer

Marketers are increasingly using measures such as customer acquisition and retention, customer engagement, and customer equity as measures of ROI.

question

__________ are distribution channel firms that help the company find customers or make sales for them.

answer

resellers

question

The microenvironment consists of all of the following except __________.

answer

demographics

question

The "echo boomers" is another name for __________.

answer

millennials

question

The __________ environment consists of economic factors that affect consumer purchasing power and spending patterns.

answer

economic

question

Shortages of certain raw materials is a major trend related to the __________ environment.

answer

natural

question

The __________ environment is the most dramatic force shaping the destiny of the markets and marketing.

answer

technological

question

Business legislation has been enacted for a number of reasons which include all of the following except __________.

answer

developing a code of ethics

question

The __________ environment consists of institutions and other forces that affect a society's basic values.

answer

cultural

question

A(n) __________ stance by companies toward the marketing environment is preferred over a reactive stance.

answer

proactive

question

Many companies view the marketing environment as a(n) __________ element to which they must react and adapt.

answer

uncontrollable

question

baby boomers are the ___

answer

78 million people born during the years following World War II and lasting until 1964

question

political environments consist of the __

answer

laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society

question

a public is __

answer

any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives

question

The __________ empowers the FTC to establish limits on quantity discounts, forbid some brokerage allowances, and prohibit promotional allowances except when made available on proportionately equal terms.

answer

Robinson-Patman Act

question

Generation X is the __

answer

49 million people born between 1965 and 1976

question

The cultural environment is the __

answer

institutions and other forces that affect a society's basic values, perceptions, preferences, and behaviors

question

The __________ environment consists of forces that create new technologies that lead to new product and market opportunities.

answer

technological

question

which of the following describes demography?

answer

The study of human population in terms of size, density, location, age, gender, race, occupation, and other statistics

question

Which term refers to the actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers?

answer

marketing environment

question

__________ is the development of strategies and practices that create a world economy that the planet can support indefinitely.

answer

environmental sustainability

question

Which of the following is the name for the firm that helps a company to promote, sell, and distribute its goods to final buyers?

answer

marketing intermediary

question

the economic environment primarily consists of __

answer

factors that affect purchasing power and spending patterns

question

The __________ forbids the manufacture or sale of adulterated or fraudulently labeled foods and drugs.

answer

federal food and drug act

question

describe generation Y

answer

The 83 million people born between 1977 and 2000

question

what is the microenvironment

answer

The actors close to the company that affect its ability to serve its customers - the company, suppliers, marketing intermediaries, customer markets, competitors, and publics

question

Which term refers to the larger societal forces that affect the demographic, economic, natural, technological, political, and cultural forces?

answer

macroenvironment

question

Smart marketing managers take a(n) ________ approach rather than a reactive approach to the marketing environment.

answer

proactive

question

the Sherman Antitrust Act

answer

prohibits monopolies and activities (price-fixing, predatory pricing) that restrain trade or competition in interstate commerce

question

Which term refers to the physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities?

answer

Natural environment

question

What is the purpose of the Wheeler-Lea Act?

answer

Makes deceptive, misleading, and unfair practices illegal regardless of injury to competition

question

Which of the following correctly lists actors in a company's microenvironment?

answer

Competitors, marketing intermediaries, suppliers, publics

question

The __________ consists of larger societal forces that affect how a company engages and serves its customers.

answer

macroenvironment

question

Which of the following correctly lists marketing intermediaries?

answer

Resellers, physical distribution firms, marketing services agencies, and financial intermediaries

question

The most important actors in the company's microenvironment are __________.

answer

customers

question

Demography studies statistics that include __________.

answer

age, gender, race, and occupation

question

According to the text, what is the single most important demographic trend in the United States today?

answer

The changing age structure of the population

question

Which generational age group is now forming brand relationships and represent tomorrow's markets?

answer

Gen Z

question

Which of the following statements regarding generational marketing is correct?

answer

Marketers need to form more precise age-specific segments within each generational group.

question

Which of the following statements regarding the current demographic environment is correct?

answer

The U.S. population is rapidly getting older.

question

Fathers were once ignored or portrayed as dolts in advertising, however today's advertisers are showing more caring and capable dads. This reflects which demographic trend?

answer

Changing dynamics in the American family

question

Ford offers a wide variety of cars that range from around $14,000 to more than $54,000. This reflects which economic factor?

answer

Income distribution

question

Geographically, many Americans have been moving to small cities located beyond congested metropolitan areas, such as Minot, North Dakota; Boone, North Carolina; Traverse City, Michigan; and Concord, New Hampshire. These small cities are called __________.

answer

micropolitan areas

question

Many companies are going beyond government regulation and are developing strategies and practices that create a world economy that the planet can support indefinitely. This represents __________.

answer

environmental sustainability

question

Which of the following is an important trend in the natural environment that marketers should be aware of?

answer

Products that require scarce resources will face large cost increases

question

One new technology marketers are adopting is radio frequency identification (RFID). What does this technology do?

answer

Tracks products and customers at various points in the distribution channel

question

Which of the following is true of environmental sustainability?

answer

Companies are learning that engaging in sustainable practices is good for business.

question

Which of the following is true regarding the technological environment?

answer

Companies must keep up with changes in technology or risk being left behind.

question

One important reason that business legislation is enacted is to __________.

answer

protect consumers from unfair business practices

question

Which of the following statements is true regarding public policy and government regulation?

answer

Legislation affecting business around the world has increased steadily over the years.

question

P&G launched their "Tide Loads of Hope" program, which provides mobile laundromats to families in disaster-stricken areas. P&G washes, dries, and folds clothes for these families free of charge. This is an example of __________.

answer

cause-related marketing

question

In the United States, patriotism has been increasing for the past 20 years. Marketers have responded with increased use of the "Made in America" appeal and patriotic themes. This reflects which aspect of culture?

answer

People's views toward society

question

A sizable and growing market of consumers are seeking products such as natural, organic, and nutritional foods, fuel-efficient cars, and alternative medicines. This trend is attributed to which cultural value?

answer

People's views toward nature

question

Being proactive toward the marketing environment means that a __________.

answer

company develops strategies to change the environment

question

A firm can be proactive by __________.

answer

pressing lawsuits to keep competitors in line

question

Companies who passively accept the marketing environment __________.

answer

view it as uncontrollable and do not attempt to change it

question

Which of the following statements discussing big data is not true?

answer

Marketers can access and easily sift through the data once it is available.

question

MIS interacts with information users in several ways which include all of the following except __________.

answer

providing concise information

question

MIS begins and ends with information users. Which of the following statements is not an advantage of MIS?

answer

MIS may provide information to external partners, such as suppliers, resellers, or marketing services agencies.

question

__________ is the systematic monitoring, collection, and analysis of publicly available information about consumers, competitors, and developments in the marketplace.

answer

Competitive marketing intelligence

question

What is the first step in marketing research process?

answer

Define the problem.

question

The objective of __________ research is to gather preliminary information that will help define the problem and suggest hypotheses.

answer

exploratory

question

Many companies manage detailed information about individual customers by using all of the following methods except __________.

answer

collecting and storing huge amounts of data

question

Companies can allow key customers and value-network members to access account, product, and other data through __________.

answer

extranets

question

Small businesses and not-for-profit organizations can obtain good marketing insights through __________.

answer

observation research

question

The marketing research industry is considering several options for responding to intrusion and privacy issues, which includes all of the following except __________.

answer

sharing information widely

question

Implementing the research plan is the ________ step in the marketing research process.

answer

3rd

question

Marketing research is best defined as

answer

the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization

question

experimental research involves

answer

gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses

question

which best describes secondary data

answer

Information that already exists somewhere having been collected for another purpose

question

how is primary data defined

answer

Information collected for the specific purpose at hand

question

__________ involves gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.

answer

survey research

question

Which term refers to the fresh understandings of customers and the marketplace derived from marketing information?

answer

customer insights

question

descriptive research is...

answer

used to better describe marketing problems, situations, or markets such as the market potential for a product or the demographics and attitudes of consumers

question

Developing the research plan for collecting information is the __________ step in the marketing research process.

answer

2nd

question

__________ is used to test hypotheses about cause-and-effect relationships.

answer

Causal research

question

________ is the management of detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty.

answer

Customer relationship management

question

________ is the huge and complex data sets generated by today's sophisticated information generation, collection, storage, and analysis technologies.

answer

big data

question

Which term refers to the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment?

answer

Competitive marketing intelligence

question

in a cluster sample,

answer

the population is divided into mutually exclusive groups and the researcher draws a sample of the groups to interview

question

describe internal data bases

answer

Electronic collections of customer and marketing information obtained from data sources within the company network

question

describe marketing information systems

answer

People and processes dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights

question

________ is the collection of primary data through internet and mobile surveys, online focus groups, consumer tracking, experiments, and online panels and brand communities.

answer

Online marketing research

question

In a __________ sample, the population is divided into mutually exclusive groups and random samples are drawn from each group.

answer

stratified random

question

__________ is used to gather preliminary information that will help define problems and suggest hypotheses.

answer

Exploratory research

question

describe observational research

answer

Involves gathering primary data by observing relevant people, actions, and situations

question

Using marketing information to gain customer insights is of little value unless __________.

answer

it is used to make better marketing decisions

question

Which of the following statements about big data is correct?

answer

One result of big data is that marketing managers are often overloaded with information.

question

Which of the following statements about information and customer insights is correct?

answer

Information to gain customer insights comes from a wide variety of sources.

question

Much of Pinterest's success is due to how they used marketing information to __________.

answer

identify a unique customer insight

question

Which of the following best describes a marketing information system (MIS)?

answer

People and procedures that are used to manage information to generate and validate actionable customer and market insights

question

Which of the following statements about marketing information systems (MIS) is correct?

answer

A good MIS must balance what users would like to have against what they really need and what is feasible to offer.

question

To develop needed information, marketing information systems utilize __________.

answer

internal databases, marketing intelligence, and marketing research

question

Which of the following is an advantage to using internal databases for information?

answer

They can be accessed quickly and cheaply.

question

Competitive marketing intelligence uses __________ data sources.

answer

publicly available

question

Which of the following statement regarding competitive marketing intelligence is correct?

answer

The goal of competitive marketing intelligence is to improve strategic decision making.

question

Defining the problem and research objectives is the __________ step in the marketing research process.

answer

1st

question

After defining the problem and objectives, what is the next step in the marketing research process?

answer

Develop the research plan.

question

What are the three types of research objectives?

answer

Exploratory, descriptive, and causal

question

Sending observers to watch and interact with consumers in their natural environment is known as __________.

answer

ethnographic research

question

Survey research is the approach best suited for gathering __________.

answer

descriptive research

question

You and seven other people are talking with a trained moderator about your feelings and thoughts about a potential new product. For doing this you receive a small payment. You are participating in a(n) __________.

answer

focus group interview

question

Which of the following statements about online research is correct?

answer

Online surveys generally have higher response rates than those conducted by mail or phone.

question

What are the two main research instruments used by marketing researchers in primary data collection?

answer

Questionnaires and mechanical devices

question

A(n) __________ is defined as any contact between a customer and a company.

answer

touch point

question

To learn more about the relationships and patterns contained in the vast amounts of data they collect, marketers use __________.

answer

marketing analytics

question

Companies setup __________ which allow key customers and value-network members to access product, account, and other data anytime they need to.

answer

extranets

question

Which of the following statements regarding the use of marketing information, customer relationship management (CRM), and analytics is correct?

answer

There are risks involved in using big data analytics and CRM.

question

Which one of the following statements about marketing research in small businesses and nonprofit organizations is correct?

answer

The research methods of small businesses and nonprofits are less complex and less costly, but they still must be conducted carefully.

question

Which of the following statements regarding conducting marketing research in a foreign country is correct?

answer

Reaching respondents in other parts of the world is more difficult than it is in the United States.

question

Some retailers use mannequins with cameras hidden in one eye to record customer demographics and shopping behavior in order to serve them better. This raises ethical concerns in terms of __________.

answer

intrusions on consumer privacy

question

Compared to the mainstream buying public, Hispanic consumers tend to be deeply __________ oriented, making this a special characteristic and behavior.

answer

family

question

According to the stimulus-response model of buyer behavior, marketing and other stimuli enter the consumer's __________ and produce certain responses.

answer

black box

question

Consumer purchases are influenced strongly by certain characteristics which include all of the following except __________.

answer

cognitive

question

Consumer motivation, perception, and learning are related to the __________ factors influencing consumer behavior.

answer

psychological

question

__________ behavior occurs when consumers are highly involved with an expensive, infrequent, or risky purchase but see little difference among brands.

answer

Dissonance-reducing buying

question

When does the habitual buying behavior occur?

answer

Under conditions of low-consumer involvement and little significant brand difference

question

In the product adoption process, __________.

answer

there are five stages

question

Marketers try to bring their new products to the attention of potential __________.

answer

early adopters

question

In the __________ stage of the adoption process, the consumer considers whether trying the new product makes sense.

answer

evaluation

question

marketing stimuli are

answer

such things as product, price, place, and promotion

question

Information search is the stage of the buyer decision process in which the __________.

answer

consumer is motivated to search for more information

question

__________ are such things as product, price, place, and promotion, and are considered part of the environment that influences the buyer's black box.

answer

Marketing stimuli

question

Consumer buying behavior in situations characterized by high consumer involvement in a purchase and significant perceived differences among brands is known as ________.

answer

complex buying behavior

question

The __________ stage is when the buyer makes a decision about which brand to purchase.

answer

purchase decision

question

Which of the following is a descriptive thought that a person holds about something?

answer

belief

question

what happens in the evaluation stage of the adoption process?

answer

The consumer considers whether trying the new product makes sense.

question

culture is

answer

the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions

question

In the adoption process, __________ is when the consumer becomes aware of the new product, but lacks information about it.

answer

awareness

question

buying attitudes and preferences are

answer

part of the buyer's responses

question

in the trial stage of the adoption process, the consumer __

answer

tries the new product on a small scale to improve his or her estimate of its value

question

describe learning

answer

Changes in an individual's behavior arising from experience

question

perception is best defined as

answer

the process by which people select, organize, and interpret information to form a meaningful picture of the world

question

describe complex buying behavior

answer

Consumer buying behavior in situations characterized by high consumer involvement in a purchase and significant perceived differences among brands

question

In the __________ stage of the adoption process, the consumer seeks information about the new product.

answer

interest

question

Need recognition is the stage of the buyer decision process in which the consumer __________.

answer

recognizes a problem

question

A __________ is a relatively permanent and ordered division in a society whose members share similar values, interests, and behaviors.

answer

social class

question

describe the purchase decision stage

answer

The buyer makes a decision about which brand to purchase.

question

what is an opinion leader

answer

A person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts social influence on others

question

Which term refers to a person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea?

answer

Attitudes

question

Alternative evaluation is the stage of the buyer decision process in which the __________.

answer

consumer uses information to evaluate alternative brands in the choice set

question

describe a belief

answer

A descriptive thought that a person holds about something

question

a subculture is

answer

a group of people with shared value systems based on common life experiences and situations

question

__________ is the stage of the buyer decision process in which the consumer is motivated to search for more information.

answer

information search

question

Which term refers to two or more people who interact to accomplish individual or mutual goals?

answer

group

question

Which of the following correctly defines the consumer market?

answer

Individuals and households that buy goods and services for personal consumption

question

Which of the following statements is correct regarding consumer buying decisions?

answer

Consumers are often unaware of what influences their purchases.

question

According to the simple model of buyer behavior, what is in a buyer's black box?

answer

The buyer's characteristics and the buyer's decision process

question

What are the three cultural factors that influence consumer buyer behavior?

answer

Culture, subculture, and social class

question

According to the text, what is the most basic cause of a person's wants and behaviors?

answer

culture

question

Which of the following statements regarding American subcultural groups is correct?

answer

Asian Americans are the most affluent U.S. demographic segment.

question

Which of the following correctly identifies the social factors that influence consumer buyer behavior?

answer

Small groups, social networks, family, and social roles and status

question

What are the four general characteristics that influence consumer purchases?

answer

Cultural characteristics, social characteristics, personal characteristics, and psychological characteristics

question

A purse company's ads feature the cast of a popular reality show. Product sales increase significantly among the fans. From the fans' viewpoint, the cast is a(n) __________.

answer

reference group

question

Which of the following is a personal factor that influences a consumer's buying behavior?

answer

occupation

question

Which of the following statements is correct regarding the influence of personal factors on buyer behavior?

answer

Consumers tend to buy brands whose personality matches their own.

question

What are the four major psychological factors that influence consumer buyer behavior?

answer

Motivation, perception, learning, and beliefs and attitudes

question

When consumers engage in __________ buying behavior they go through a learning process, so it is most important that marketers understand information gathering and evaluation behavior.

answer

complex

question

Dissonance-reducing buying behavior would result from which of the following conditions?

answer

High involvement and few differences between brands

question

Which of the following statements regarding habitual buying behavior is correct?

answer

In these types of purchases marketers often use price and sales promotion as incentives for purchas

question

What is the correct order of the five stages in the buyer decision process?

answer

Need recognition, information search, evaluation of alternatives, the purchase decision, and postpurchase behavior

question

What tends to be the most effective source of information when consumers make a buying decision?

answer

Personal sources

question

Two things can come between the intention to make a purchase and the actual purchase: the first is the attitudes of others and the second is __________.

answer

unexpected situational factors

question

What determines if a buyer is satisfied or dissatisfied with a purchase?

answer

The relationship between consumer expectations and perceived product performance

question

Which of the following statements regarding the buyer decision process is correct?

answer

Consumers may, in some situations, skip steps in the buyer decision process.

question

__________ is the first stage in the new product adoption process.

answer

Awareness

question

What is the correct order of the five stages of the new product adoption process?

answer

Awareness, interest, evaluation, trial, adoption

question

People can be classified into adopter categories. Which two categories are the first to adopt a new product idea?

answer

Innovators and early adopters

question

Which adopter category consists of opinion leaders who adopt new ideas early but carefully?

answer

Early adopters

question

Which of the five characteristics identified in the text has an inverse relationship with an innovation's rate of adoption? As this characteristic increases, the rate of adoption is slower.

answer

Complexity

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