fina practice – Flashcards
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According to the material presented in class, marketing can be thought of as a(n) __________________ or as a(n) _____________________?
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Philosophy, business function.
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What is an attribute?
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A quality or characteristic inherent in or ascribed to someone or something.
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What is the NAICS?
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a. A system for classifying businesses in the United States, Canada and Mexico b. A replacement for the old Standard Industrial Classification (SIC) code. c. The North American Industry Classification System. d. All of these are the NAICS. <<< e. A system that classifies businesses according to their primary line of business.
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Bruce just purchased a new dishwasher for his home. It was a pretty expensive purchase for him and he had spent several days researching alternatives. After the dishwasher had been installed and was working properly, Bruce found that he couldn't sleep that night because he was worrying whether he had spent too much money on the dishwasher. This is a classic case of?
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Buyer's remorse
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_________ refers to the amount of time and effort a buyer invests in the search, evaluation and decision processes of consumer behavior
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Involvement
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A _______________ is an actual or imaginary group that has a significant impact on a person's evaluations, aspirations or behavior?
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Reference group
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Bruce is a fan of the Minnesota Vikings Football team. He was watching a game between the Minnesota Vikings and the San Francisco Fortyniners on San Francisco television station. He expected that the announcers would favor the local team and it appeared that he was right. Even though a national media agency gave the local announcers an award for the most unbiased coverage ever in a televised football game, Bruce remained convinced that the announcers had favored the local team. This is an example of ______________?
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Selective interpretation
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______________________ is the marketing of goods and services to companies, governments, or not-for-profit organizations purposes other than personal consumption?
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Business marketing
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What is the difference between a business customer and an individual consumer.
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Mass marketing techniques are usually less cost effective in business marketing than in consumer marketing because there are fewer business customers than individual consumers.
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According to your instructor, which of the bases for segmentation is most frequently used by marketers?
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Demographic
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Why is it a good idea for a business to group its customers into market segments?
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To be able to respond more effectively to the wants of groups of potential buyers
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Which of the following is NOT a way perceptual maps can help you with your positioning strategy?
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Determine which of two alternative products your customers will prefer.
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According to your instructor, what is the hard way to become the category leader?
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Use the marketing mix to create a superior product offering in the category and then spend what it takes to communicate the superiority of your product to consumers.
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Which of the following statements about marketing information systems is TRUE?
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A marketing information system as described in class is an ideal to which many businesses aspire.
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Which of the following is one of the three typical uses for information in a decision support system as described in class?system as described in class?
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To support ad-hoc or one of a kind decisions.
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Which of the following research techniques is most likely to be used in exploratory research?
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Ethnography
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Which of the following is NOT a requirement for causal research?
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focus group
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Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union looking for a snack. On his way he noticed someone had set up a table with information on cellular phones. As he tried to walk past the table, a salesperson stopped him and asked him if he would like to buy a cell phone for a very low introductory rate. In terms of product classification, a cell phone could best be described as a(n) for bruce?
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Unsought product
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_____________ looks at how new products are adopted by entire populations.
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Diffusion theory
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A ____________ is a style that has been adopted by a significant number of people for a reasonably long period of time?
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Fashion
