question

Marketing expertise is gained:

answer

by even the average person, who has a great deal of shopping experience

question

In terms of marketing, which of the following statements about small business is most accurate?

answer

Small businesses are the source of the majority of new jobs in the United States.

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The goal of marketing is to both __________ the needs of prospective customers.

answer

discover and satisfy

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From a marketing perspective, prospective customers include

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individuals or organizations making purchases either for themselves or others, regardless of whether it is for personal use or for resale.

question

Beth's sorority volunteers to paint over graffiti on downtown fences. She spent last Saturday helping out, and felt satisfied because she was contributing to her community. Was this an exchange?

answer

Yes, because painting the fences was exchanged for something of value—a feeling of satisfaction.

question

If you feel hungry, marketers would say you have developed a(n) __________ to eat something.

answer

need

question

Sound and Cinema is a company that will turn an ordinary basement into a home theater. It advertises in publications that are mailed to homeowners in subdivisions where the least expensive home costs $550,000. These homeowners are the __________ for Sound and Cinema.

answer

target market

question

Netflix can deliver movies to its customers via streaming video over the Internet or via mail. These two methods would constitute which element of the marketing mix for Netflix?

answer

Place

question

The uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces are referred to as:

answer

environmental forces

question

After discovering consumers' needs, marketing's next task is to:

answer

translate information about consumer needs into product concepts.

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What is the process of continually acquiring information on events occurring outside the organization, to identify and interpret potential trends called?

answer

Environmental scanning

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Baby boomers can be described as the generation of children born:

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before Generation X

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Members of Generation Y are most likely to influence the marketing mix decisions regarding which of these products?

answer

Tablet Devices

question

A metropolitan statistical area (MSA) contains a population of:

answer

at least 10,000

question

Current cultural values commonly held in the United States are:

answer

personal control, continuous change, and competition.

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Periods of declining economic activity during which time business production decreases, unemployment rises, and many consumers have less money to spend are known as:

answer

recessions

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Innovations are allowing consumers to utilize gesture, touch, and voice to control computers and other devices. This is an example of a(n) __________ force that could impact many industries.

answer

Technological

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Any activity that uses some form of electronic communication in inventory, exchange, advertisement, distribution, and payment of goods and services is referred to as:

answer

electronic commerce

question

The Clayton Act can be considered stronger than the Sherman Antitrust Act because:

answer

it forbade certain actions that lessen competition, even if no actual has yet occurred.

question

The __________ provides for registration of a company's trademark such as the Coca-Cola dynamic ribbon.

answer

Lanham Act

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The study of consumer __________ helps marketers understand why people choose one brand over another and how they make these choices.

answer

behavior

question

If you are thinking about buying a new television, which of these would be considered a public source of information for an external search?

answer

The U.S. Consumer Product Safety Commission

question

Satisfaction or dissatisfaction affects consumer communications; while the satisfied buyer typically tells about three other people about her experience, the dissatisfied buyer:

answer

is likely to complain to about nine people.

question

For which of the following items would extended problem solving most likely be used?

answer

an assisted living residence

question

As a situational influence, antecedent states include:

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the amount of cash on hand.

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Respect is an example of a __________ need.

answer

personal

question

An energy drink company is interested in advertising during a made-for-television movie using subliminal advertising in which logo images are shown only very briefly, for periods of just several milliseconds at a time. Which of the following is the strongest argument against such a marketing tactic?

answer

Evidence suggests that such messages have limited effects on behavior.

question

Using the same brand name for different products is an application of which concept from behavioral learning theory?

answer

Stimulus generalization

question

The VALS system is a(n) __________ measure of consumers.

answer

psychographic

question

Important variables in the family life cycle are age, marital status, and:

answer

presence of children

question

Marketing research is the process of defining a marketing problem and opportunity, __________, and recommending actions.

answer

systematically collecting and analyzing information

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In marketing research, the research objectives are the __________ goals of the decision maker.

answer

specific and measurable

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In a marketing decision, __________ are likely to be restrictions on the time and money available to solve the problem.

answer

constraints

question

Two special methods vital to marketing researchers are __________ and __________.

answer

sampling; statistical inference

question

Representatives from Kraft spent several months with consumers in their kitchens, attempting to understand what they wanted in ready-to-serve meals prior to the launch of Kraft Deli Creations. The observational approach Kraft used is called __________ research.

answer

ethnographic

question

What type of question is the simplest form of a fixed alternative question that allows only a "yes" or "no" response?

answer

Dichotomous

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An advantage of using a panel for marketing research is:

answer

researchers can take successive measurements of consumers to determine if they change their purchasing behaviors over time.

question

In marketing experiments, the dependent variable is the __________ and the independent variable is the __________.

answer

result of an action; cause of an action

question

What method do marketing researchers use to present and analyze data that involves two or more variables to discover relationships in the data?

answer

A cross tabulation

question

Asking the firm's salespeople to estimate sales during a coming period is referred to as:

answer

a salesforce survey forecast.

question

Market segmentation involves aggregating prospective buyers into groups that have common needs and will:

answer

respond similarly to a marketing action.

question

Which of the following is an example of a single product with multiple market segments?

answer

Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.

question

__________ is the third step in the five step process of segmenting and targeting markets.

answer

Developing a market-product grid

question

Which of the following is a variable that could be used for demographic segmentation of consumer markets?

answer

household size

question

Though the percentages are not always the same, a general rule in business says that the large majority of a firm's revenues come from what percent of its customers?

answer

20%

question

U.S. organizational markets use three main segmentation bases, which are:

answer

demographic, geographic, and behavioral.

question

An important part of creating a market-product grid is to:

answer

estimate the size of the markets

question

Which of the following is a criterion used to select a target market segment?

answer

expected growth of a segment

question

Two major types of product positioning are _______ and _______.

answer

head-to-head; differentiation

question

A key to positioning a product or brand effectively is to discover the perceptions in the minds of potential customers. This involves taking four steps, one of which includes:

answer

discovering where the company's product or brand is on the relevant attributes in the minds of potential customers.

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