Exam One for Marketing - Flashcards

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To be an organization's market, it is not enough for a customer just to want a product because it would satisfy unmet needs; a customer must also have...

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the ability to buy, financially and otherwise.

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Goods, services, and ideas can all be considered_____in the right circumstances, when consumers exchange something of value for them to satisfy their needs.

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Products

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For marketing to occur, parties must have which two of these?

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A way to communicate and both the desire and ability to satisfy their needs

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A(an) ______ market is a specific group of potential customers toward which an organization directs its marketing program.

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Target

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What is required of effective market segments?

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Buyers will respond similarly to a marketing action and buyers have common needs

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Marketing attempts to satisfy consumer needs but clearly also shapes a person's _____, because it may impact knowledge or even culture.

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wants

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If you develop a desire for a product that does not exist yet in the marketplace, this would be considered an unsatisfied _____, one of the conditions required for marketing to occur.

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need

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Marketing creates four types of ______: form, place, time, and possession.

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Utility

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The unique combination of benefits received by target buyers at a specific price is known as

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Customer value

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To effective segment a market, you should ensure that the segments are relatively ______, at least in terms of prospective buyers' needs and response to marketing.

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Homogeneous

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Ultimate consumers

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use goods and services purchased for a household

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The hallmark of developing and maintaining effective customer relationships is called ______ marketing.

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Relationship marketing

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Which two of the following are required of effective market segments?

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Buyers have common needs and buyers will respond similarly to a marketing action

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A marketing mix that is _____ to provide a good, service, or idea to prospective buyers is known as a marketing program.

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integrated

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Is the part of the marketing mix that communicates the value of the product to the consumer in many ways, such as advertising, social media, and public relations.

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Promotion

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A market orientation requires firms to create customer value through

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collecting information about customer needs

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When a consumer gives money or something else of value for something he she values, this is called a(an)

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exchange

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The societal marketing concept combines which two of the following principles?

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organizations should serve customers in a way that provides for society's well-being and organizations should satisfy the needs of consumers

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The four Ps, or marketing mix are the _____ set of activities that a firm uses to respond to the needs of its target market.

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controllable

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____ is one of the elements of the four Ps that embodies all activities essential to get the product to the right customer when and where that customer wants it.

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place

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Who benefits from effective marketing?

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consumers who buy, organizations who sell, society as a whole

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Customer value is the unique combination of benefits received by targeted buyers

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at a specific price

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In the context of customer value, which of the following are considered benefits?

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after-sale service, convenience, quality

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A brief statement that sums up how a business satisfies customer needs is termed a

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customer value proposition

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_______ consumers, in contrast with organizational buyers, are the people who use products and services purchased for a household.

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Ultimate

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Which two of the following are characteristic of the marketing concept era?

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Product design focused on consumers' needs and marketing was integrated into each phase of business

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A customer value proposition is

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a cluster of benefits that an organization promises customer to satisfy their needs

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______ consumers, in contrast with organizational buyers, are the people who use products and services purchased for a household

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Ultimate consumers

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A marketing dashboard is

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is the visual computer display of the essential information related to achieving a marketing objective

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What does the acronym "SWOT" stand for?

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Strengths and weaknesses and its external opportunities and threats

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A statement of an accomplishment of a task to be achieved, often by a specific time, is known as a(n) ____.

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Goals

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Place the following levels of organization in order with the lowest level on the bottom.

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1. Corporate level 2. Strategic business unit level 3. Functional level

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A ____ statement describes an organization's function in society and often identifies its customers and products.

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Mission

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True or false: An organization's core values typically do not change much over time.

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True

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Dogs

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1. May generate enough cash to sustain themselves but are not considered current or future winners 2. low relative market share, low market growth rate

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Cash Cows

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1. Generate large amounts of cash which can be invested in other SBUs. 2. High relative market share, low market growth rate

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Question marks

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1. Require cash to maintain market share, even though that share is small. 2. low relative market share, high market growth rate

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Stars

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1. Require cash to sustain rapid growth but will likely generate cash when growth slows 2. High relative market share, high market growth rate

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Which of the following are true of portfolio analysis?

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Firms typically perform is as the SBU or product line level of the firm and management evaluates the firm's various products and businesses.

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Step 1 of the planning phase in the strategic marketing process involves which of the following?

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Performing a situation analysis using SWOT

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A visionary organization's core values, ____, and organizational culture make up its foundation.

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Mission

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Which two of the following are the elements that define an organization's direction

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1. The business it is in 2. Specific goals

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Organization ____ is made up of ideas and behaviors that are clearly communicated to employees and other stakeholders.

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Culture

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in searching for growth opportunities, organizations using diversification analysis consider both current and new options for which of the following?

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Product and market

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The marketing department is part of the ____ level, in term of strategy within an organization.

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Functional

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An organization sets its ____ in terms of the business it is in and its specific goals.

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Direction

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Obtaining resources and developing planning schedules are part of which phase in the strategic marketing process?

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Implementation

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Which of the following are the three phases of the strategic marketing process?

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Planning, Evaluation, Implementation

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Which of the following are the three levels of strategy in organizations?

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Board of directors, Corporate, and Strategic business-unit

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Which two techniques aid in decisions about where an organization wants to go?

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1. business portfolio analysis 2. diversification analysis

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What is the final step in the planning phase of the strategic marketing process?

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The marketing program

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The clear, broad, underlying industry category or market sector of an organization's offering defines its

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Business

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Which of the following are true regarding market share?

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1. is the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself. 2. It may need to be increased, even at the expense of profit, if industry status or prestige is at stake. 3. It is the percentage of sales of an industry accounted for by a specific firm.

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For an organization, ____ may vary both by level and by offering.

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Strategies

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SWOT analysis with specific business action

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-strength....build on it -weakness... correct it -opportunity...exploit it -threat...avoid it

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The corporate level is where top management directs overall ____ for the entire organization.

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Strategy

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A marketing metric is a ____ of the quantitative value or trend of a marketing activity or result.

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measure

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An organization whose primary organizational goal is operational efficiency or client satisfaction would be classified as a(an)

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Nonprofit organization

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What is part of the implementation phase of the strategic marketing process?

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1. Obtaining resources 2. Designing the marketing organization 3. defining precise tasks, responsibilities, and deadlines 4. actually executing the marketing program in the planning phase

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Points of ____ are characteristics of a product that make it superior to competitive substitutes.

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Difference

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What an appropriate response when a deviation is identified in the evaluation phase of the strategic marketing process?

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1. Correct a negative deviation 2. Exploit a positive deviation

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To set a strategic direction an organization needs to answer two difficult questions...

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1. Where are we now? 2. Where do we want to go?

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Where are we now?

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involves identifying its competencies, customers, and competitors.

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An organization's core ____ are its special capabilities, including skills, technologies, and resources that distinguish it from other organizations and provide value to its customers.

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competencies

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The planning gap is an example of

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a deviation that should be identified and acted upon

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Which of the following are part of the implementation phase of the strategic marketing process?

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1. Obtaining resources 2. Designing the marketing organization

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A marketing ____ is the means by which a marketing goal is to be achieved whereas marketing ____ are detailed day-to-day operational decisions essential to the success of the former.

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1. Strategy 2. tactics

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When an organization's core competency is distinctive enough in comparison to others in the industry, it may provide a(an) ____ advantage.

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competitive

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Among the four growth opportunities in diversification analysis, which is the most risky?

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Diversification

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A marketing ____ is a road map for the marketing actions of an organization for a specific future time period.

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Plan

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Organizations that develop similar offerings, when grouped together, create a(an)

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Industry

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Obtaining resources and developing planning schedules are part of which phase in the strategic marketing process?

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Implementation

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Which of the following are true regarding SBU?

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1. Firms with a single business focus may not have SBUs 2. It stands for "strategic business unit" 3. Managers of an SBU set specific strategic direction

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Having a large U.S market share is an example of a(n) ____ for an organization.

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Strength

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For an organization performing a SWOT analysis, a threat is which of the following?

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external and unfavorable

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To what does "opportunity" refer in SWOT analysis?

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Favorable aspects of the external environment

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The BCG Business Portfolio Analysis

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1. Requires calculations of market growth rate and relative market share. 2. Is applied by classifying a firm's products or services into a four quadrant matrix. 3. helps firms determine whether they should withdraw resources from and eventually phase out products.

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A strategy

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Is an organization's long-term course of action allowing it to achieve its goals

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The primary difference between a business firm and a nonprofit organization is that a

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business serves its customers in order to earn a profit

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Businesses can pursue several different types of ____ that they would like to achieve, such as those pertaining to market share, quality, or customer satisfaction.

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goals

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International expansion generally is riskier than domestic expansion because of which of the following?

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1. Language differences 2. Cultural traditions 3. Differences in government regulations

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A market penetration strategy, as one of the possible growth opportunities, may be achieved by which of the following?

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Encouraging current customers to spend more on the brand

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Which of the following are true regarding market share?

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1. It is the percentage of sales of an industry accounted for by a specific firm. 2. It may need to be increased, even at the expense of profit, if industry status or prestige is at stake.

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Inexperienced managers would be considered what in a SWOT analysis?

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A weakness

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The ____ strategy offers a new product or service to a firm's existing market

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Product development

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True or false: The best strategy for an organization is to determine how to be all things to all people.

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False

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Which of the following is a job title for the head of the marketing in a large organization?

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Chief marketing officer

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The marketing department can keep the organization focused on creating value both for it and for customers by

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Looking outward

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In defining one's business, avoid a(n) ____ definition that is not focused on customer ____.

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Narrow; needs

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Which of the following is often a trigger for an organization to rethink its business model?

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Technological innovation

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A small group of people from different departments who are mutually accountable to accomplish a task or common goals is known as a(n)

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Cross-functional team

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Recently, organizations such as Ben and Jerry's have added an element to their mission statements to reflect what?

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An ideal that is morally right and worthwhile

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Which of the following describes a typical pathway for an SBU through the four quadrants of the BCG business portfolio analysis?

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An SBU starts as a question mark and proceeds counterclockwise around the quadrants.

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Market development is a strategy to sell ____ products to new markets.

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existing

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The ____ is the difference between the projection of the path to reach a new sales revenue goal and the projection of the path of plan already in place.

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Planning gap

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Growing demand for one's product in an overseas market is a(n) ____ for an organization.

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opportunity

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____ is the ratio of sales revenue of the firm to total sales in the industry, including the firm itself.

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Market share

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A market ____ growth strategy focuses on increasing sales of the firm's current products to its current target markets.

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penetration

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Which of the following is true of an organization's core values?

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They should inspire and motivate employees to take production actions

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Market segmentation is most essential for what part of the planning phase of the strategic marketing process?

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Market-product focus

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A market penetration strategy attempts to increase sales of present products among

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existing customers

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____ refer to the favorable internal attributes of the firm.

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Strengths

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Organizational strategies can vary by ____, with top managers creating a mission statement and functional employees creating a script for a sales call.

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level

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In a SWOT analysis, a weakness is an unfavorable characteristic that is ____ to the organization.

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Internal

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Which of the following is essential to recognize when determining organizational strategy?

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An organization has limited resources which must be focused on achieving goals.

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Which of the following is a job title for the head of marketing in a large organization?

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Chief marketing officer

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A small group of people from different departments who are mutually accountable to accomplish task or common goals is known as a(n)

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cross-functional team

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Which of the following forces is most likely to result in replacement of existing product or companies?

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Technology

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The five environmental forces that can affect an organization, its suppliers, and its customers.

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Social, economic, technological, competitive, regulatory

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Which two ethnic groups are expected to experience the largest population growth in the United States by 2025?

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Hispanic and Asian

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Which two of the following laws forbid monopolies or other actions that cause restraint in trade?

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1. The Sherman Antitrust Act 2. The Clayton Act

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The Consumer Product Safety Act and the resulting Consumer Product Safety Commission came about because of a grassroots movement called

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Consumerism

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The ____ is one of five components of an environmental scan because businesses are impacted by forces such as inflation, productivity, and consumer income.

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economy

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Describing a population with characteristics like age, gender, ethnicity, and income is referred to as

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demographics

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Which of the following environmental forces refers to the alternative firms that could provide product to satisfy a specific market's needs?

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competition

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Which of the following characteristics, when shared, help to define culture?

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Values, Attitudes, Ideas

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When an industry attempts to police itself with guidelines for practice, this may help that industry to avoid government interferences. This idea is known as self-_____.

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regulation

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The Generation Y cohort is also sometimes called which two of the following

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The echo-boomers

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____ is one of the states that has seen a decline in population, according to the most recent census.

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Michigan

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An environmental scan will include ____ forces impacting a business by way of state and federal laws that may restrict its activities.

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regulatory

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Baby Boomers are those people born between the years

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1946 and 1964

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Which of the following are amount the goals of environmental scanning?

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1. Interpreting and Identifying trends 2. Continually acquiring information on external events

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____ consciousness is the concern for obtaining the best quality, features, and performance of a product or service for a given price.

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Value

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Which of the following generational cohorts consists of people born between 1965 and 1976?

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Generation X

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Consumer income is a ____ trend that is important to marketers.

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Microeconomic

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The FTC might issue a cease and desist order due to which two of the following practices?

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1. Advertising that misrepresents the actual features or benefits of a product 2. A retouched advertising that makes the product appear more pure than it actually is.

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Which of these generational cohorts represents the most recent period of increasing births?

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Generation Y

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Consumers who are increasingly switching media in search of short, engaging messages is an example of a(n) ____ force.

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social

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The demographic characteristics of a population and its ____ comprise the social forces in the environment.

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culture

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Recently, mobile phone makers have introduced phones with large easy to read buttons to tap into the growing market of ____.

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Seniors

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Which of the following are considered demographics?

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1. Age and gender 2. Occupation and income 3. Ethnicity and race

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Two macroeconomic factors?

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1. gross domestic product 2. inflation

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____ technology is likely to move from the movie theater and TV to many new and useful applications.

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3D

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Disposable income is the money a consumer has after paying

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taxes

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The changing attitudes and ____ of men and women in the marketplace is one of the most notable cultural changes in the United States in the past 30 years.

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roles

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Which of the following family and living arrangements are increasing in the United States?

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1. Households with an adult child living with parents 2. Households with unmarried partners

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Which two situations exemplify illegal situations under the Clayton Act?

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1. A dominant seller imposing conditions such forcing the purchase of one product in order to buy another. 2. A powerful seller requiring all its distributors to only sell its products.

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Retirement housing is most likely to appeal to which generation?

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Baby boomers

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An information- and communication-based electronic exchange environment occupied by computer technologies and digitized offerings is called

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marketspace

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What are some characteristics of generation X?

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1. born between 1965-1976 2. Supportive of racial and ethnic diversity

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The total amount of money made in one year by a person, household, or family unit is referred to as

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gross income

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The Sherman Act exerts legal influence on which component of the marketing mix?

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Price

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Environmental scanning is necessary for an organization to

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Interpret trends that may be a source of opportunity

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Baby boomers, Generation X, and Generation Y are examples of what?

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Generational cohorts

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The presence of a stepparent or stepchildren indicate what type of household?

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blended family

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Which of two of these approaches can be most useful when trying to reach the female market for a traditionally male-focused product?

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1. Create products with fewer gender distinctions 2. Engage female customers with special promotions

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Legislation that allows companies to protect themselves from competition copying their property include both

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the patent law and the copyright law

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____ is predicted to have the world's largest population by 2050.

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India

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What are some characteristics of Generation Y?

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1. They are passionate about the environment 2. They are interested in sustainability 3. They are attracted to purposeful work

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Capital requirements, advertising expenditures, distribution access, and switching costs for customers can all act as ____ in the competitive

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barriers to entry

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Which of the following are examples of past government legislation deigned to protect the consumer?

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Prohibition of monopolies and prohibition of unsafe products

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The money one has left from earnings after paying for taxes and necessities is called

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discretionary income

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The majority of the competitive landscape in this country is made up of

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small businesses

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In a competitive context, which two of the following will contribute to the power of buyers?

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1. There are few buyers 2. There are low switching costs

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Because of the multitude of racial and ethnic identities in the U.S consumer base, which of the following is necessary for successful multicultural marketing?

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In-depth marketing research

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Technology is causing a change in the customer assessment of value because its cost is plummeting resulting in

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consumers focusing instead on quality, service, and relationships with the retailer

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Inflation may harm marketers when

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prices rise faster than consumers incomes

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Electronic commerce is defined as

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Electronic communication used in the inventory, exchange, advertisement, distribution, or payment of products.

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Which generational cohort was born during 1946 and 1964

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Baby Boomers

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It can be difficult to define discretionary versus disposable income because

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It is hard to determine what is a luxury and what is a necessity.

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Which of the following is a characteristic of Hispanics in the U.S population?

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Hispanics will soon spend approximately 1.3 trillion dollars a year.

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Baby boomers would be least likely to purchase which of the following products or services?

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High-risk investments

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Using technology for the development of new products creates ____ for customers.

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value

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What are some characteristics of Generation Y?

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1. They are attracted to purposeful work 2. They are interested in sustainability 3. They are passionate about the environment

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By the year 2015, ____ will be the largest U.S minority group in terms of spending.

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Hispanics

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The agency monitoring the American population profile is called

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The U.S Census Bureau

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The money a consumer has left after paying taxes is called

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disposable income

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While an intranet allows for electronic communication within the boundaries of an organization, an extranet allows for communication with

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suppliers and distributors

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The Lanham Act provides

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for registration of a company's trademarks

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Which of the following is a way the technology can improve existing products and the ways they are produced?

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Precycling

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According to the Census Bureau, a metropolitan statistical area will become a metropolitan statistical area when the urbanized area population reaches

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50,000

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When adjusted for inflation, gross income has been ____ since 1968

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relatively stable

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Consumers will make spending adjustments due to a direct change in disposable income when

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taxes rise or fall faster than income

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Which of the following are examples of past government legislation designed to protect the consumer?

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Prohibition of unsafe products and prohibition of monopolies

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The national Do Not Call Registry has most impact on what practice?

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Telemarketing

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Legislation that allows a firm to protect its newly developed product from competition is called

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The patent law

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When Hallmark produces cards to give to step-parent, it is marketing to what type of household?

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Blended family

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Though a relatively smaller group, this group born between 1965 and 1976 has become a dominant force and the focus of marketers today

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Generation X

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Which of the following is a new Census category that tracks the U.S population?

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Multiracials

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An environmental scan may indicate that coffee manufacturers, coffee retailers, and coffee distributors are likely to be affected by a downward

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trend in coffee consumption

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Which of the following refers to the fact that organizations are part of a larger society and are accountable to that society for their actions?

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Social responsibility

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A(n) ____ of ethics is a formal statement of ethical principles and rules of conduct.

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code

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Which of the following are the concepts of social responsibility?

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1. Profit responsibility 2. Societal responsibility 3. Stakeholder responsibility

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Ethics deal with ____ moral principles and values, while laws are ____ values and standards that are enforceable in the courts.

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Personal; society's

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The right to safe products and to be informed by businesses that sell them are part of the ____ Bill of Rights.

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Consumer

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Which two of the following are personal moral philosophies that have the most direct bearing on marketing practice?

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Utilitarianism and moral idealism

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____ serve as guidelines on how to act rightly and justly when faced with moral dilemmas.

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Ethics

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Which two of the following are the most common unethical behaviors when it comes to competition in business?

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1. Economic espionage 2. Bribery

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A systematic assessment of a firm's objectives, strategies, and performance in terms of social responsibility is known as a(n)

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social audit

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In cause marketing, charitable contributions are not outright contributions but rather are

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tied to customers revenues produced through the promotion of one of its products.

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Which personal moral philosophy considers certain individual rights or duties as universal, regardless of the outcome?

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Moral idealism

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____ is a personal moral philosophy that focuses on "the greatest good for the greater number."

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utilitarianism

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Societal responsibility extends the concept of social responsibility to which of the following?

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1. Preservation of the ecological environment 2. The general public

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A company representative who gives a gift to the government official considering a contract for the representative's firm may be accused of

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bribery

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____ responsibility holds that companies have a simple duty: to maximize profits for their owners or stockholders.

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Profit

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Which of the following help explain society's current perceptions of ethical business conduct?

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The public's expectations of ethical business behavior has increased.

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____ development involves conducting business in a way that protects the natural environment while making economic progress.

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sustainable

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Which of the following are benefits associated with companies' effort to increase social responsibility?

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1. Favorable word of mouth 2. Outperforms others financially

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A(n) is an employee who reports illegal or unethical actions of their employers.

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whistleblower

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Because culture is socializing force that dictates what is morally right, moral standards are

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relative to particular societies

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Economic espionage is

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the clandestine of trade secrets or proprietary information about a company's competitors.

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When an organization focuses on the obligations it has to consumers, empl0yess, suppliers, and distributors it is accepting its ____ responsibility.

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stakeholder

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Organizations that place an emphasis on the triple-bottom line recognize the need to improve the state of which of the following?

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1. People 2. The planet 3. Profit

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Public opinion surveys indicate that most people feel the ethical standards of business executives

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are only "fair" or "poor"

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Companies that are perceived as socially ____ typically benefit from favorable word of mouth, and outperform other companies financially.

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responsible

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Which of the following are examples of societal responsibility?

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1. Green marketing 2. Use of the triple-bottom line

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The legal concept of caveat emptor closely translates to

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"let the buyer beware"

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Which of the following are steps in conducting a social audit?

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1. Specify the resources necessary to achieve social responsibility objectives 2. Identify causes consistent with the company's mission 3. Evaluate social responsibility programs

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Examples of an ethical problem in which a marketer is violating the Consumer Bill of Rights include which of the following?

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1. Promoting a dangerous product 2. Failing to disclose actual costs of an auto lease

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Which of the following are common ways in which consumers fail to act ethically or responsibly?

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1. Pirating music 2. Putting inaccurate information on credit applications 3. Submitting phony insurance claims

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In an ethical exchange, both buyer and seller should be ____ afterward.

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better off

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In which of the following industries is economic espionage most prevalent?

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High-technology

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In which of the following ways can top management contribute to the unethical behavior of employees?

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1. Reward employees for ethically troubling behavior 2. Penalize employees who refuse to engage in unethical behavior

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Recent surveys indicates that 50% of U.S. consumers were willing to change their lifestyle to improve the environment and

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they may be unwilling to pay higher prices

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About which of the following should a marketer be especially careful in order to be sensitive to the Consumer Bill of Rights?

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Collecting personal information from online consumers

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Which two of the following are the most common motivations for unethical consumer behavior?

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1. Consumers believes he or she can get away with it 2. Consumer's rationalization that the act is justified

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Pepsi-Cola received an offer from Coca-Cola employee to purchase a confidential marketing plan for a new Coke product. had this transaction been carried out, it would have been an example of

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economic espionage

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When a company like 3M has formal program to reduce pollution and recycle material, it is pursuing

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green marketing

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Stakeholder responsibility focuses on the obligation an organization has to

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to those who can affect achievement of its objectives

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The majority of business people feel that it is Ok to "get around a law if you don't actually break it" but this may be a rationalization of ____ behavior.

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unethical

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Example of cause marketing

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Procter and Gamble raises funds for the Special Olympics when customers purchase select company products.

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Bridgestone/Firestone was slow to recall tires that had been linked to dangerous crashes. Under stakeholder responsibility,, the firm should have considered effects of its actions on

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consumers

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Which of the following are examples of societal responsibility/

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1. Green marketing 2. Cause marketing 3. Use of the triple-bottom line

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What behavior does Beth show when she seem to know the exact location in the grocery store for every item on her shopping list?

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Learning

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Perceiving a difference in one's idea and actual situations is the initial stage of the purchase decision process, one that is known as ____ recognition.

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problem

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Which two of the following are fundamental to brand loyalty?

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A consistent purchase behavior of single brand and a favorable attitude toward a single brand

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The process by which a person selects, organizes, and interprets information to create a meaningful picture of the world is called

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perception

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Concepts from the field of ___ like perception and personality help marketers understand why and how consumers behave as they do.

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psychology

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The sociocultural factors that influence consumer behavior include which of the following?

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1. Friends and family 2. Reference groups and culture

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Locating information from one's own memory and knowledge is known as a(n) ____ search, whereas seeking outside sources of information is a(n) ____ search.

answer

Internal; external

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The actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions is known as

answer

consumer behavior

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Which of the following are problem-solving variations for consumer purchase decisions?

answer

Routine and Limited

question

The influencing of people during conversation, in either positive or negative ways, is called

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word of mouth

question

The family ____ ____ concept describes the distinct phases that a family progresses through from formation to retirement.

answer

life cycle

question

Which two of the following are characteristic of attitudes?

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1. They are learned 2. They are consistently favorable or unfavorable

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Social class is determined by which two of the following?

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1. A person's occupation 2. A person's education

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A consumer's ____ is identified partly by what that person considers important in her environment and what she thinks of herself and the world around her.

answer

lifestyle

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When Time, Inc. publishes a kid's version of its Sports Illustrated publication it is attempting influence today's children to purchase SI when they become adults. This process is an example of

answer

Consumer socialization

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Individuals who exert direct or indirect social influence over others are called ____ leaders.

answer

opinion

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Casey is looking to buy a new replacement set of golf clubs. After he settles on a particular set of Callaway clubs, what other choices does Casey have to make?

answer

1. he needs to determine from whom he should buy 2. he must decide when he will make the purchase

question

Personality is defined as a person's ____ behaviors or responses to recurring situations.

answer

consistent

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____ is the energizing force that stimulates behavior to satisfy a need.

answer

Motivation

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the process by which a firm attempts to have the consumer associate two ideas such as a drug and headache relief is called

answer

cognitive learning

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Worrying about the expense of a purchase, the possibility that it will harm you in some way, or that your friends will make fun of it are all examples of perceived

answer

risk

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Which of the following are major categories of influence on the purchase decisions process?

answer

psychological and sociocultural

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A consumer will often turn to one of their formal or informal ____ groups for advice and guidance on acceptable beliefs, attitudes, and consumer behaviors. This group might be colleagues at work, team members on sports team, or a club in which they are member.

answer

reference

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Personal influence, reference groups, family influence, and culture are types of ____ influence on the consumer purchase decision process.

answer

Sociocultural

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The objective and subjective attributes that are considered as a consumer evaluates a product are known as

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evaluative criteria

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The process of developing automatic responses to a situation built up through repeated exposure to it is called

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behavioral learning

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Karen just got a haircut and she is not sure it was the right decision for her. To relieve her cognitive dissonance, she might engage in which behaviors now?

answer

1. noticing other fashionable consumers with similar haircuts 2. asking her friends for feedback on the cut

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Objective and subjective product criteria are developed during the ____ stage of the purchase decision process so that the decision can be made in the next stage.

answer

alternative evaluation

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A high-involvement purchase will typically have which characteristics?

answer

1. is typically expensive 2. typical for products that could reflect on one's social image 3. requires extensive external search

question

A relatively permanent, homogeneous divisions in a society into which people sharing similar values interests, and behavior can by grouped is called

answer

social class

question

From whom to buy and when to buy are decisions made during which stage of the purchase decision process?

answer

purchase decision

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The final step in the purchase decision process is known as

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postpurchase behavior

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Which of the following factors increase the depth and duration of a consumer's information search?

answer

1. Low cost of gathering information 2. Little past experience and knowledge 3. High risk involved with making a wrong decision

question

New products in a low-involvement product category should focus on which of these strategies?

answer

1. Encouraging trial of the brand with samples 2. breaking buying habits

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The process by which consumers filter information to limit it to what they want to see is called selective

answer

perception

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After her purchase of a car, Mariah experienced cognitive ___ as she agonized over whether or not she made the right choice.

answer

dissonance

question

Evidence regarding subliminal perception suggests that is has what type of effect on behavior?

answer

a limited effect, if any

question

From which two sources is learning derived?

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1. Repeated experience 2. Reasoning

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Which of the following occurs during the postpurchase behavior stage of the purchase decision process?

answer

1. Having cognitive dissonance 2. Feeling satisfied or dissatisfied 3. Comparing a product to one's expectations

question

Which two of the following are the variables with which the VALS system categorizes buyers

answer

1. Their resources 2. Their primary motivation for buying and having products

question

The needs for shelter and food can be categorized as ____ needs, while the need for designer fashions can be classified as a ____.

answer

physiological; personal

question

De Beers advertises around the world with the message, " Diamonds are Forever," appealing to women's ____ needs for love and belonging.

answer

social

question

Which of the following describes the situational influence known as physical surroundings?

answer

The store layout, décor, and music

question

The consumer's ____ set is the group of brands that a consumer would consider acceptable among all the brands of which he is aware.

answer

consideration

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Jackson wants to buy a new cell phone. Of the brands that Jackson recalls, those he thinks he would actually buy are his ____ set.

answer

consideration

question

Lucy often advises Johnny about which kind of shirt he should buy. Lucy is acting in the role of a(n) ____ in the family decision process.

answer

Influencer

question

An ____ search is when the buyer seeks information outside his or her personal knowledge base to help make the buying decision, such as checking the internet, asking a friend, or visiting a showroom.

answer

external

question

____, which are a consumer's subjective perception of how a product or brand performs on different attributes, affect attitude formation.

answer

Beliefs

question

New products in a low-involvement product category should focus on which of these strategies?

answer

1. Encouraging trial of the brand with samples and coupons 2. Breaking buying habits

question

Mason is trying to decide where to go for lunch. He wants to try a new place. He asks his coworkers for suggestions about where he should go. He is demonstrating which type of problem solving?

answer

Limited; limited means to consumers seek some info or rely on a friend to help them evaluate their alternatives.

question

A set of values, ideas, and attitudes that is learned and shared among members of a group is called

answer

culture

question

The ____ is one of the most substantial influences on buyer behaviors and attitudes. It is the smallest, most immediate reference group with whom one learns how to use consumer products and services and the brands they often continue to use for life.

answer

family

question

Problem recognition is perceiving the difference between the ____ state (the consumer is currently hot and thirsty) and the ideal state (the consumer is refreshed from drinking a cool lemonade).

answer

actual

question

Marketers recognize that people have which two types of self-concepts?

answer

actual and ideal

question

Postpurchase behavior is critical to marketing managers primarily because

answer

it is the opportunity for marketers to measure and track satisfaction

question

Which of these characteristics are central to defining culture?

answer

Attitudes and values

question

Customers of Harley Davidson that join a HOG are participating in a(n)

answer

brand community

question

Which of the following are types of reference groups with clear implications for marketers?

answer

Aspiration group and Dissociative group

question

Attitudes toward a product are shaped by our

answer

values and beliefs which are learned

question

Jon is using ____ ____ when he bases his decision to purchase textbooks on price, condition, and location.

answer

evaluative criteria

question

A market-leading beer company's marketing strategy would most likely involve and emphasis on

answer

reinforcing advertising and maintaining quality and supply

question

Which of the following are considered primary motivations for buying and having products, according to the VALS system

answer

Ideals, Achievement, Self-expression

question

The consumer buying decision process begins when which of the following occurs within the consumer?

answer

Consumers recognize that there is a difference between their actual and ideal situations

question

Seventy percent of ____ are immigrants. Most are under the age of 30. This subculture is composed of many diverse groups, which makes it difficult to generalize buying patterns.

answer

Asian Americans

question

Which of the following would be the best way for Proctor and Gamble to change a consumer's attitude towards Tide?

answer

Add a new ingredient to the formula

question

Danilo just received a quote from his car dealer and now must decide on this purchase. He is not sure he can afford the car, or if it gets high enough crash ratings. Danilo is contemplating perceived

answer

risk

question

There are three approaches used y marketers to change consumer's attitude. They are changing the perceived importance of attributes, adding new attributes to the product, and:

answer

changing beliefs about certain attributes

question

When the U.S Army invites enlistees with the slogan "Be all you can be," what type of motivational needs does it target?

answer

self-actualization

question

____ comprise the largest racial/ethnic subculture today, in terms of population and spending power in the United States.

answer

hispanics

question

When Marriott uses its name on a second line of properties, Courtyard by Marriott hotels, it uses the behavioral learning theory called stimulus

answer

generalization

question

After the consumer completes the problem recognition stage in the purchase decision process, she then behinds the ____ stage.

answer

information

question

A buyer is most likely to skip some stages of the purchase decision process when he is buying what type of good or service?

answer

low-priced, frequently purchased products

question

According to the concepts of selective exposure and selective comprehension, you are most likely to pay attention to and interpret information that

answer

is consistent with your attitudes and beliefs

question

When several people in an organization participate in purchase decisions, often for more important or expensive contracts, it is called

answer

a buying center

question

Organizational buyers that buy physical products and resell them again without any reprocessing are known as ____.

answer

resellers

question

Which of the following are the recognized buy classes in organizational buying?

answer

1. Straight rebuys 2. Modified rebuys 3. New buys

question

Organizational buying behavior revolves around a ____ that has similarities to consuming buying behaviors.

answer

decision-making process

question

Organizational buyers are divided into which of the following markets?

answer

1. industrial 2. government 3. reseller

question

Because it improves timeliness of supplier information and reduces both order processing and marketing costs, ____ buying is popular in all three kinds of organizational markets.

answer

online

question

Resellers

answer

buy physical products and sell them to others without reprocessing

question

Some organizations, known as ____ firms, reprocess a product or service they buy before selling it again to the next buyer.

answer

industrial

question

Which of the following are ways that businesses might use NAICS-coded information?

answer

1. to determine the classification of current customers 2. to study demand for products 3. to study market share

question

Derived demand refers to the concept that demand for industrial products is driven by

answer

demand for consumer products

question

____ marketing refers to marketing of goods and services to organizations for use in the creation of goods and services that they can produce and market to others.

answer

buiness

question

Organizational buyers buy goods and services for which two reasons?

answer

1. For resale 2. For their own use in a business function

question

Evaluative criteria in the consumer decision process are most similar to what?

answer

Organizational buying criteria for business buyers

question

A(n) ____ rebuy occurs when an organizational buyer simply reorders additional units of products with no changes from an approved supplier.

answer

straight

question

Which of the following are ways that the purchase decision stage of the organizational decision process differs from the same stage of consumers?

answer

1. Lengthy negotiations may occur 2. Suppliers not chosen are told why 3. Multiple contracts for different suppliers of the same items may be awarded

question

The underlying reason that Nissan Motor Company, an organizational buyer, switched its advertising agency was

answer

to increase revenues

question

In a traditional auction, the winner

answer

is the buyer with the highest bid

question

A(n) ____ rebuy occurs when an organizational buyer has purchased a similar product in the past but has decided to change something like the specifications, price, or supplier.

answer

modified

question

Which of the following are typical in a new buying situation?

answer

1. The buying center includes more people 2. Decision time is lengthy

question

In a reverse auction, the winner

answer

is the supplier with the lowest bid

question

The industrial buying practice in which two organizations agree to purchase each other's products is known as ____.

answer

reciprocity

question

____ demand means that the demand for industrial products and services is driven by demand for consumer products and services.

answer

Derived

question

In the purchase decision stage of the organizational buying decision process, the firm

answer

awards contracts to chosen suppliers

question

A list of firms believed to be qualified to supply a given item to an organizational buyer is known as ____ list.

answer

bidder's

question

Many companies have added new objectives in their organizational buying decisions, including which two of the following?

answer

1. Emphasizing buying from minority and women-owned suppliers 2. Including environmental initiatives

question

Organizational buying behavior ____ the consumer purchase decision process.

answer

is similar to

question

In which of the following stages of the organizational purchase decision process does the make-buy decision, a choice between purchasing from outside or making the product itself, occur?

answer

problem recognition

question

Which of the following buy classes involves the greatest potential risk to the buyer?

answer

New buy

question

Which of the following would be considered resellers?

answer

Retailers, wholesalers, distributors

question

Which of the following organizational buyers could be considered part of the industrial market?

answer

Mining companies and public utilities

question

A supply partnership lowers costs and increases value of products through the adoption of

answer

mutually beneficial objectives, policies, and procedures between buyers and sellers

question

Depending on the product, there may be a person who act as a(n) ____ in the buying center, often by providing specifications for the product being purchased or the vendor being considered.

answer

influencer

question

The ____ role is sometimes fulfilled by the buyer in the buying center, but sometimes is done by someone else for important technical purchases.

answer

deciders

question

The systematic appraisal of the design, quality, and performance of a product in order to reduce purchasing costs is known as a

answer

value analysis

question

An organizational buyer that requires ISO 9000 certification of its suppliers benefits from

answer

confidence in the consistent quality of its suppliers' products

question

Which of the following are commonly used organizational buying criteria?

answer

1. Price 2. Ability to meet delivery schedules 3. Past performance on contracts

question

Within the buying center, you are considered the ____ when you are the one using the product within your organization.

answer

user

question

Independent trading communities and private exchanges provide online trading platforms for organizations and are examples of

answer

e-marketplaces

question

For organizational buyers, supplier development results in

answer

supplier products and capabilities that fit the buyer's needs

question

Which of the following are more true of the organizational buying decision process, as compared to the consumer one?

answer

Supplier capability becomes more important more individuals are involved in the decision

question

Which of the following are ways that the purchase decision stage of the organizational decision process differs from the same stage for consumers?

answer

1. Multiple contracts for different suppliers of the same items may be awarded 2. Suppliers not chosen are told why 3. Lengthy negotiations may occur

question

In a(n) ____ auction, there are many suppliers involved and buyers benefit from the lower prices generated from this type of auction,

answer

reverse

question

Which of the following are likely to participate in an organization's buying center?

answer

1. the purchasing manager 2. an employee from another functional area

question

In a(n) ____ auction, products are simply sold to the buyer with the highest bid.

answer

traditional

question

Which of the following is more likely to occur in organizational buying than for consumer buying?

answer

Complex negotiations

question

The purchase stage is ____ in the organizational buying decision process than it is for consumers.

answer

longer

question

The ____ controls the flow of information and may prevent it from reaching other members of the buying center.

answer

gatekeeper

question

Which of the following are reasons that a supplier might not like a reverse auction?

answer

1. It threatens supply partnership opportunities 2. It overemphasizes price as a buying criteria

question

____ government agencies can act as organizational buyers by purchasing products from other organizations.

answer

Many

question

In the ____ stage of the organizational buying decision process, the firm awards contracts to one or more of its preferred suppliers.

answer

purchase decision

question

The deliberate effort by organizational buyers to build relationships that shape suppliers' products and capabilities to fit a buyer's needs is known as

answer

supplier development

question

Firms selling to organizational buyers have ____ potential customers compared to firms selling to consumers

answer

far fewer

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