question

Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization. a) supply chain b) macroenvironment c) marketing intermediary network d) internal environment e) microenvironment

answer

Macroenvironment

question

Through what ways can a product differentiate itself?

answer

Product, services, channels, people, image

question

The practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as ________. a) niche marketing b) micromarketing c) segmented marketing d) global marketing e) undifferentiated marketing

answer

Micromarketing

question

Brands vary in the amount of power and value they hold in the marketplace. Iconic brands like Apple, Google, and Harley-Davidson have achieved substantial brand ________. a) capital b) personality c) perception d) esteem e) equity

answer

Equity

question

Make-and-sell philosophy is part of what concept? A. Production concept B. Product concept C. Selling concept D. Marketing concept E. Societal marketing concept

answer

Product

question

Which of the following is the correct order for the five steps in the five step decision making process (assuming the consumer goes through the model in the "typical" order)? a) Need recognition, evaluation of alternatives, information search, purchase decision, post-purchase phase b) Evaluation of alternatives, need recognition, information search, purchase decision, post-purchase phase c) Need recognition, information search, evaluation of alternatives, purchase decision, post-purchase phase d) Information search, need recognition, evaluation of alternatives, purchase decision, post-purchase phase e) Information search, evaluation of alternatives, purchase decision, post-purchase phase, problem recognition

answer

Need recognition, information search, evaluation of alternatives, purchase decision, post-purchase phase

question

Dividing a market into several sections of customers is known as ________. a) mass customization b) market positioning c) market segmentation d) value engineering e) undifferentiated marketing

answer

Market segmentation

question

Which of the following would make a segment less attractive to enter? A. Buyers with weak bargaining power B. A lack of aggressive competitors C. New entrants finding it easy to enter the segment D. Suppliers with weak bargaining power E. Very few substitute products

answer

New entrants finding it easy to enter the segment

question

Grocers in neighborhoods with a large Hispanic population typically carry more brands that Hispanic consumers prefer than grocers in other neighborhoods. This is an example of ________. A. local marketing B. differentiated marketing C. undifferentiated marketing D. individual marketing E. concentrated marketing

answer

Local marketing

question

According to the five-step model of the marketing process, which of the following is the final step in creating value for customers? a) building profitable relationships and creating customer delight b) capturing value from customers to create profit and customer equity c) understanding the marketplace and customer needs d) designing a customer-driven marketing strategy e) constructing an integrated marketing program that delivers superior value

answer

Designing a customer-driven marketing strategy

question

Brooke's Boutique plans to launch a new clothing line. For this purpose, the firm first conducts a survey to understand its target audience and identify the demographics of potential buyers. It then conducts experimental research to test whether customers associate discounted prices with lower product quality. Which types of research has the boutique employed in this case? a) exploratory followed by causal b) exploratory followed by descriptive c) descriptive followed by exploratory d) descriptive followed by causal e) causal followed by descriptive

answer

Exploratory followed by descriptive

question

The 4 P's

answer

Product, promotion, price, place

question

What a buyer must give up to obtain a product

answer

Price

question

The most flexible of the "4 Ps" -- quickest to change

answer

Price

question

Product availability where and when customers want them; All activities from raw materials to finished products

answer

Place

question

Goal of "place" in the marketing mix

answer

Ensure products arrive in usable condition at designated places when needed

question

Goal of "promotion" in the marketing mix

answer

Communication

question

Role is to bring about exchanges with target markets by: Informing Educating Persuading Reminding

answer

Promotion

question

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

answer

Marketing

question

A set of marketing tools that work together to engage customers, satisfy customer needs, and build relationships

answer

Marketing mix

question

The Marketing Process

answer

1. Understand the marketplace and customer needs and wants 2. Design a customer value-driven marketing strategy 3. Construct an integrated marketing program that delivers superior value 4. Engage customers, build profitable relationships, and create customer delight 5. Capture value from customers to create profits and customer equity

question

States of felt deprivation

answer

Needs

question

The form human needs take as they are shaped by culture and individual personality

answer

Wants

question

When backed by buying power, wants become ____

answer

Demands

question

Sellers paying more attention to the specific products they offer than to the benefits and experiences produced by these products; Focusing only on existing wants and lose sight of the underlying customer needs

answer

Marketing myopia

question

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

answer

Market

question

If the product's performance falls short of expectations, the customer is _______

answer

Dissatisfied

question

If performance matches expectations, the customer is _________

answer

Satisfied

question

If performance exceeds expectations, the customer is ________

answer

Delighted

question

There are five alternative concepts under which organizations design and carry out their marketing strategies:

answer

Production, product, selling, marketing, and societal marketing concepts

question

Which concept holds that customers will favor products that are available and highly affordable A. Production concept B. Product concept C. Selling concept D. Marketing concept E. Societal marketing concept

answer

Production concept

question

Which concept holds that customers favor products that offer the most in quality, performance, and innovative features A. Production concept B. Product concept C. Selling concept D. Marketing concept E. Societal marketing concept

answer

Production concept

question

In which concept holds that consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort? A. Production concept B. Product concept C. Selling concept D. Marketing concept E. Societal marketing concept

answer

Selling concept

question

Which concept is typically practiced with unsought goods - those that buyers do not normally think of buying? A. Production concept B. Product concept C. Selling concept D. Marketing concept E. Societal marketing concept

answer

Selling concept

question

In which concept is there an inside-out perspective: starts with the factory, focuses on the company's existing products, and calls for heavy selling and promotion to obtain profitable sales; Focuses on customer conquest - getting short-term sales with little concern about who buys or why A. Production concept B. Product concept C. Selling concept D. Marketing concept E. Societal marketing concept

answer

Selling concept

question

In which concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do? A. Production concept B. Product concept C. Selling concept D. Marketing concept E. Societal marketing concept

answer

Marketing concept

question

Outside-in perspective: satisfying customer needs as a path to profits; Yields profits by creating relationships with the right customer based on customer value and satisfaction A. Production concept B. Product concept C. Selling concept D. Marketing concept E. Societal marketing concept

answer

Marketing concept

question

Which concept questions whether the pure marketing concept overlooks possible conflicts between consumer short-run wants and consumer long-run welfare A. Production concept B. Product concept C. Selling concept D. Marketing concept E. Societal marketing concept

answer

Social marketing concept

question

Socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs

answer

Sustainable marketing

question

Societal needs, not just economic needs, define markets; Focuses on creating economic value in a way that also creates value for society

answer

Shared value

question

Marketing strategy should deliver value to customers in a way that maintains or improves both the customers and society's well-being A. Production concept B. Product concept C. Selling concept D. Marketing concept E. Societal marketing concept

answer

Social marketing concept

question

1. ________ - Firm must create a need-satisfying market offering 2. ________ - It must then decide how much it will charge for the offering 3. __________ - And how it will make the offering available to target consumers 4. _________ - Finally it must engage target consumers, communicate about the offering, and persuade consumers of the offer's merits

answer

1. Product 2. Price 3. Place 4. Promotion

question

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

answer

Customer-perceived value

question

Fostering direct and continuous customer involvement in shaping brand conversations, brand experiences, and brand communities Goal is to make the brand a meaningful part of consumers' conversations and lives

answer

Customer-Engagement Marketing

question

The total combined customer lifetime values of all of the company's current and potential customers; a measure of the future value of the company's customer base

answer

Customer equity

question

The value of customer relationships that a brand creates is called _______. A. customer equity B. brand equity C. brand value D. customer value E. brand differentiation

answer

Customer equity

question

Represents the total net profit a company makes from any given customer; A projection to estimate a customer's monetary worth to a business after factoring in the value of the relationship with a customer over time; An important metric for determining how much money a company wants to spend on acquiring new customers and how much repeat business a company can expect from certain consumers.

answer

Customer lifetime value

question

Actors in the microenvironment

answer

The company, suppliers, marketing intermediaries, competitors, publics, customers

question

The role of a company's marketing intermediaries is to do which of the following? A. Purchase the company's product B. Determine which products a company should market C. Manage the company's human resources efforts D. Provide the resources needed by the company to produce goods and services E. Help the company find, promote, sell, and distribute products

answer

Help the company find, promote, sell, and distribute products

question

Noah's Sporting Goods is having difficulty attaining the credit it needs to expand. What should the company do in order to alleviate its financial situation? A. Analyze the finances of one of its competitors B. Find a new physical distribution firm C. Reexamine its relationship with its resellers D. Work out a plan with its financial intermediaries E. Devise a marketing plan with a marketing service agency

answer

Work out a plan with its financial intermediaries

question

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

answer

Public

question

Most important actors in the company's microenvironment

answer

Customers

question

Which of the following correctly defines the consumer market? A. Retailers who sell goods and services to consumers B. Any business that sells goods and services to other businesses C. Manufacturers, retailers, and consumers D. Individuals and households that buy goods and services for personal consumption E. Individuals who spend more than $1,000 a year on purchases

answer

Individuals and households that buy goods and services for personal consumption

question

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

answer

Demography

question

Wealthiest generation in US history; "a marketer's dream"; fastest-growing demographic online, fastest-growing social media users A. Generation Z B. Echo boomers C. Baby boomers D.Generation X E. Senior citizens

answer

Baby boomers

question

Considerably smaller and less materialistic generation; family first and career second; more skeptical - tend to research products heavily before they consider a purchase, prefer quality to quantity, and tend to be less receptive to overt marketing pitches A. Generation Z B. Echo boomers C. Baby boomers D.Generation X E. Senior citizens

answer

Generation X

question

Most financially strapped generation; face higher unemployment and debt; comfort with digital technology A. Generation Z B. Echo boomers C. Baby boomers D. Generation X E. Millennials

answer

Millennials

question

Those born after 2000; represent tomorrow's market - they are now forming brand relationships that will affect their buying well into the future; highly mobile, connected, and social A. Generation Z B. Echo boomers C. Baby boomers D. Generation X E. Senior citizens

answer

Generation Z

question

The group of economic factors that affect consumers' purchasing power and spending patterns is called ________. A. demographic information B. the value market C. income distribution D. macroenvironment E. the economic environment

answer

Economic environment

question

Involves the physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities

answer

Natural environment

question

Which of the following is NOT a problem involving the natural environment that marketers need to consider? A. Government regulations B. Pollution C. The aging U.S. population D. Raw material shortages E. Greenhouse gases

answer

The aging U.S. population

question

Perhaps the most dramatic force now shaping our destiny A. Economic forces B. Natural forces C. Demographic forces D. Political forces E. Technological forces

answer

Technological environment

question

Wonders such as robotic surgery, miniaturized electronics, and antibiotics can be attributed to which marketing environment? A. Cultural B. Political C. Social D. Technological E. Natural

answer

Technological

question

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

answer

Political environment

question

The purpose of business legislation is primarily based on ________. A. education B. guidance C. rehabilitation D. punishment E. protection

answer

Protection

question

People's views of themselves, others, organizations, and nature are part of which macroenvironmental force? A. Demographic forces B. Cultural forces C. Technological forces D. Political forces E. Natural forces

answer

Cultural forces

question

The major cultural values of a society are expressed by _________. A. people's views of themselves B. people's views of organizations C. people's views of society D. people's views of themselves and others, as well as their views of organizations, society, nature, and the universe E. people's views of the universe

answer

People's views of themselves and others, as well as their views of organizations, society, nature, and the universe

question

_____ beliefs and values more open to change

answer

Secondary

question

____ beliefs and values passed n from parents to children and reinforced by schools, businesses, religious institutions, and government

answer

Core

question

Growing Consumer Interest in Sustainability/Protecting Natural World (3)

answer

-Growing segment of "green" consumers (that will be very influenced by whether they feel a firm manages its responsibility to the environment well) -Potential negative effects of NOT thinking about how consumers can dispose of your product in a way they feel good about (Negative attitudes towards brand/product, not wanting to buy, negative word of mouth) -Producing packaging that creates less waste

question

Dishonestly spinning products/policies as environmentally friendly

answer

Greenwashing

question

This is all about developing customer insights, understanding your target market segment

answer

Market research

question

The people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights comprise a ________. A. marketing research department B. marketing analytic system C. marketing consulting team D. marketing information system E. marketing technology system

answer

Marketing information system

question

What are the three general sources from which marketers can obtain information? A. Internal data, marketing intelligence, and marketing research B. Sales records, the Internet, and internal databases C. Internal data, big data, and global data D. Marketing research, surveys, and scanners E. Competitors, the Internet, and the media

answer

Internal data, marketing intelligence, and marketing research

question

What are the four steps of the marketing research process in their correct sequence? A. Collect the data, analyze the data, develop the research plan, interpret and report the findings B. Define the problem and research objectives, develop the research plan, implement the research plan, interpret and report the findings C. Develop the research plan, define the problem and research objectives, implement the research plan, interpret and report the findings D. Develop the research plan, set the research budget, collect the data, interpret and report the findings E. Set the research budget, collect the data, analyze the data, determine how to use the findings

answer

Define the problem and research objectives, develop the research plan, implement the research plan, interpret and report the findings

question

What are the three types of objectives a marketing research project might have? A. Exploratory research, descriptive research, and survey research B. Demographic research, exploratory research, and attitudinal research C. Descriptive research, survey research, and causal research D. Exploratory research, descriptive research, and causal research E. Exploratory research, secondary research, and primary research

answer

Exploratory research, descriptive research, and causal research

question

What is big data? A. Data that is obtained from competitors B. Data that is collected globally C. Data that proves to be useful to marketers D. Data collected by very large companies E. Data contained in huge and complex data sets

answer

Data contained in huge and complex data sets

question

To deliver real value to marketers, marketing information must _________. A. provide useful customer insights B. come from big data sources C. have a positive impact on profits D. include information on competitors E. be collected inexpensively

answer

Provide useful customer insights

question

Which of the following BEST describes the purpose of the customer insights team? A. To create more value for customers B. To advertise new products to customer bases C. To represent the company to its customers D. To develop new markets of customers for the company E. To instruct other company departments in customer service

answer

To create more value for customers

question

Many companies build extensive electronic collections of consumer and market information obtained from data sources within the company's network. This is known as ___________. A. marketing research B. an internal database C. online marketing research D. an intranet E. marketing intelligence

answer

An internal database

question

Cupcakes by Cindy is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST place for this company to start to develop an efficient MIS? A. Conduct surveys or focus groups to gather information. B. Analyze the information gathered in market research. C. Determine how to use the information gathered by market research. D. Distribute necessary information to the marketing team. E. Assess the information needs of the company.

answer

Assess the information needs of the company

question

Which brand dimension is defined as how consumers feel a brand meets their needs? A. Differentiation B. Equity C. Knowledge D. Relevance E. Esteem

answer

Relevance

question

Which of the following is considered part of an augmented product rather than that of an actual product or core customer value? A. Product features B. Brand name C. Packaging D. Warranty E. Design

answer

Warranty

question

A researcher must always evaluate secondary information carefully; however, the researcher does not need to ensure the evaluation is _________. A. relevant B. current C. impartial D. accurate E. subjective

answer

Subjective

question

A colleague needs to collect descriptive data about his customer's attitudes. He has not done this type of research before. What research approach would you recommend to best suit this research project? A. Secondary data B. A survey C. An experiment D. An ethnographic study E. Observation

answer

A survey

question

Research to gather preliminary information that will help define the problem and suggest hypotheses

answer

Exploratory research

question

Research to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product

answer

Descriptive research

question

Research to test hypotheses about cause-and-effect relationships

answer

Causal research

question

Managers usually start with this type of research

answer

Exploratory

question

Consist of information that already exists somewhere, having been collected for another purpose

answer

Secondary data

question

Data that consists of information collected for the specific purpose

answer

Primary data

question

This type of data can usually be obtained more quickly and at a lower cost

answer

Secondary

question

Involves gathering primary data by observing relevant people, actions, and situations (observe what consumers do, say, etc.)

answer

Observational research

question

Involves sending observers to watch and interact with consumers in their "natural environments"

answer

Ethnographic research

question

Observing consumers in a natural context in the Internet and mobile space

answer

Netnography research

question

The most widely used method for primary data collection, approach best suited for gathering descriptive information

answer

Survey research

question

Major advantage of survey research is ______

answer

Flexibility (can be used to obtain many different kinds of information in many different situations)

question

Best suited for gathering causal information A. Experiemental research B. Observational research C. Ethnographic research D. Survey research E. Experimental research F. Focus groups G. Online marketing research

answer

Experimental research

question

Research that tries to explain cause and effect relationships

answer

Experimental research

question

Commercial online databases are an example of which type of data?

answer

Secondary

question

Internet search engines are an example of which type of data?

answer

Secondary

question

____ research can provide a window into customers' unconscious actions and unexpressed needs and feelings

answer

Observational

question

Small groups of consumers who interact directly and informally with product designers without a focus group moderator present

answer

Immersion groups

question

The most widely used qualitative research tool

answer

Focus groups

question

Consists of inviting small groups of people to meet with a trained moderator to talk about a product, service, or organization -Participants are normally paid a small sum for attending -Moderator focuses the discussion

answer

Focus group interviewing

question

In this type of research, researchers not only hear consumer ideas and opinions, but they can also observe facial expressions, body movements, group interplay, and conversational flows

answer

Focus group interviewing

question

Internet and mobile surveys, online panels, experiments, and online focus groups and brand communities

answer

Online marketing research

question

Benefits of online marketing research

answer

-Instantaneous results -Low cost -More interactive and engaging and less intrusive

question

Primary qualitative Internet-based research approach

answer

Online focus group

question

Major challenge to online marketing research

answer

Controlling who is in the online sample

question

A segment of the population selected for marketing research to represent the population as a whole

answer

Sample

question

Each population member has a known chance of being included in the sample, and researchers can calculate confidence limits for sampling error

answer

Probability sample

question

Every member of the population has a known and equal chance of selection

answer

Simple random sample

question

The population is divided into mutually exclusive groups, and random samples are drawn from each group

answer

Stratified random sample

question

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

answer

Cluster (area) sample

question

When probability sampling costs too much or takes too much time, marketing researchers often take _____ even though their sampling error cannot be measured

answer

Nonprobability samples

question

The researcher selects the easiest population members from which to obtain information

answer

Convenience sample

question

The researcher uses his or her judgment to select population members who are good prospects for accurate information

answer

Judgement sample

question

The researcher finds and interviews a prescribed number of people in each of several categories

answer

Quota sample

question

Most common research instrument

answer

Questionnaire

question

Any contact between a customer and a company is called a(n) _________. A. sales call B. service call C. satisfaction survey D. touch point E. purchase

answer

Touch point

question

Why do companies use customer relationship management? A. To get to know their customers personally B. To avoid using big data C. To capture and use customer data D. To maximize sales and revenue E. To find new customers

answer

To capture and use customer data

question

What do marketers use to analyze big data? A. Marketing analytics B. Marketing software C. Customer relationship management D. Marketing metrics E. Marketing research

answer

Marketing analytics

question

A power tool company wants to give its customers access to internal, non-public information about how best to use its product in creative ways. What should the company create to provide customers with this information? A. A company website B. A company data mine C. A company intranet D. A company extranet E. A data warehouse

answer

A company extranet

question

_____ market - things sold to consumers for personal consumption

answer

Business to consumer

question

_______ market - businesses selling to other business that will then be used to manufacture their good

answer

Business to business

question

Five-Step Buyer Decision-making Process

answer

1. Need recognition (buyer recognizes a problem or a need) 2. Information search (consumer may store the need in memory or undertake an information search related to the need) 3. Evaluation of alternatives (how consumers process information to choose among alternative brands) 4. Purchase decision (will be to buy the preferred brand, but attitudes of others and unexpected situational forces can come between the purchase intention and the purchase decision) 5. Post-purchase behavior (is the buyer satisfied or dissatisfied)

question

What determines whether the buyer is satisfied or dissatisfied with a purchase? A. The relationship between the consumer's expectations and where the product was purchased B. The relationship between the consumer's expectations and how others evaluate the product C. The relationship between the consumer's expectations and the product's perceived performance D. The relationship between the price of the product and the product's perceived performance E. The relationship between the price of the product and the level of customer service provided

answer

The relationship between the consumer's expectations and the product's perceived performance

question

What can come between the purchase intention and the purchase decision?

answer

Attitudes of others, unexpected situational factors

question

Discomfort caused by post purchase conflict; consumers feel uneasy about drawbacks of the chosen brand and losing the benefits of the brands not purchased

answer

Cognitive dissonance

question

3 Key Differences in B2B Marketing vs. B2C

answer

1. Number of customers (Business to consumer markets have 100 to 1,000 times as many customers for similar amount of revenue) 2. Multiple levels within a business to business "customer" (One consumer going to store to buy coke vs. 3 levels usually involved in Business to business (users, influencers, and decision makers)) 3. Domain knowledge (business to business buyer has expertise and experience that most consumers don't have)

question

What are the four general characteristics that influence consumer purchases? A. Cultural characteristics, technological characteristics, social characteristics, and personal characteristics B. Technological characteristics, social characteristics, personal characteristics, and the buyer decision process C. Cultural characteristics, social characteristics, demographic characteristics, and brand loyalty D. Economic characteristics, technological characteristics, demographic characteristics, and political characteristics E. Cultural characteristics, social characteristics, personal characteristics, and psychological characteristics

answer

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

question

The most basic cause of a person's wants and behavior

answer

Culture

question

Groups of people with shared value systems based on common life experiences and situations (nationalities, religions, racial groups, and geographic regions)

answer

Subculture

question

The buyer decision process starts with __________. A. evaluating purchase alternatives B. making a purchase C. recognizing a need D. satisfaction with past purchases E. getting information about a purchase

answer

Recognizing a need

question

Society's relatively permanent and ordered divisions whose members share similar values, interests, and behaviors

answer

Social classes

question

Groups that have a direct influence and to which a person belongs

answer

Membership groups

question

Groups that serve as direct (face-to-face interactions) or indirect points of comparison or reference in forming a person's attitudes or behavior

answer

Reference groups (***People are often influenced by reference groups to which they don't belong)

question

A purse company's ads feature the members of a popular housewives reality show. Product sales increase significantly among the fans. From the fans' viewpoint, the housewives reality show is a(n) _____. A. family group B. reference group C. late-majority adopter D. membership group E. lagging adopter

answer

Reference group

question

Which of the following is a social factor that influences consumer buying behavior? A. Personality B. Roles and status C. Economic situation D. Occupation E. Life-cycle stage

answer

Roles and status

question

What is the first step of the buyer decision process? A. Information search B. Purchase decision C. Need recognition D. Postpurchase behavior E. Alternative evaluation

answer

Need recognition

question

_________ is NOT a characteristic important in influencing an innovation's rate of adoption. A. Motivation B. Divisibility C. Relative advantage D. Communicability E. Complexity

answer

Motivation

question

______________ is the first stage in the new product adoption process. A. Awareness B. Trial C. Adoption D. Evaluation E. Interest

answer

Awareness

question

Groups in which the individual wishes to belong

answer

Aspirational groups

question

Involves enlisting or even creating opinion leaders to serve as brand ambassadors who spread the word about a company's product

answer

Buzz marketing

question

Main characteristic of consumer behavior - Occupation, age and life-cycle stage, economic situation, lifestyle, and personality and self-concept

answer

Personal

question

A person's pattern of living as expressed in his or her psychographics

answer

Lifestyle

question

The unique psychological characteristics that distinguish a person or group

answer

Personality

question

The specific mix of human traits that may be attributed to a particular brand

answer

Brand personality

question

The idea that people's possessions contribute to and reflect their identities

answer

Self-concept

question

A need that is sufficiently pressing to direct the person to seek satisfaction

answer

Motive

question

Main characteristics affecting consumer behavior - motivation, perception, learning, and beliefs and attitudes

answer

Psychological

question

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

answer

Perception

question

Describes changes in an individual's behavior arising from experience

answer

Learning

question

A descriptive thought that a person holds about something

answer

Belief

question

Describes a person's relatively consistent evaluations, feelings, and tendencies toward an object or idea

answer

Attitude

question

The mental process through which an individual passes from learning about an innovation to final adoption

answer

Adoption process

question

Stages in the adoption process in the correct sequence Evaluation Trial Interest Adoption Awareness

answer

1. Awareness 2. Interest 3. Evaluation 4. Trial 5. Adoption

question

Stage of the adoption process where consumer becomes aware of the new product but lacks information A. Awareness B. Interest C. Evaluation D. Trial E. Adoption

answer

Awareness

question

Stage of the adoption process where the consumer seeks information about the new product A. Awareness B. Interest C. Evaluation D. Trial E. Adoption

answer

Interest

question

Stage of the adoption process where consumer considers whether trying the new product makes sense A. Awareness B. Interest C. Evaluation D. Trial E. Adoption

answer

Evaluation

question

Stage of the adoption process where the consumer tries the nee product on a small scale to improve his or her estimate of its value A. Awareness B. Interest C. Evaluation D. Trial E. Adoption

answer

Trial

question

Stage of the adoption process where the consumer decides to make full and regular use of the new product A. Awareness B. Interest C. Evaluation D. Trial E. Adoption

answer

Adoption

question

What are the five characteristics that are especially important in influencing an innovation's rate of adoption? A. Relative advantage, complexity, compatibility, divisibility, and communicability B. Product, price, place, promotion, and packaging C. Product, price, place, promotion, and relative advantage D. Relative advantage, complexity, compatibility, availability, and promotion E. Price, features, complexity, relative advantage, and promotion

answer

Relative advantage, complexity, compatibility, divisibility, and communicability

question

Which of the following statements regarding the business market is correct? A. Demand in the business market is more elastic than demand in the consumer market. B. The business market is not as large as the consumer market in terms of dollars spent and items purchased. C. Many sets of business purchases are made for one set of consumer purchases. D. Business buying decisions are less complex than consumer buying decisions. E. The business market has more businesses than the consumer market.

answer

Many sets of business purchases are made for one set of consumer purchases.

question

Which type of business buying situation offers marketers the greatest opportunity but also the greatest challenge? A. A buying center purchase B. A modified rebuy C. A straight rebuy D. A new task situation E. A request for proposal

answer

A new task situation

question

_________ refers to the practice of including ethnic themes and cross-cultural practices within a company's mainstream. A. Buzz marketing B. Cause marketing C. Guerilla marketing D. A total market strategy E.Viral marketing

answer

A total market strategy

question

In which type of buying situation will a buyer usually go through all the stages of the business buying process? A. A straight rebuy B. A new task buying situation C. The purchase of raw materials D. A modified rebuy E. The purchase of a business service

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A new task buying situation

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Consumers can obtain information from any of several sources. Which source is the most effective in that they legitimize the product? A. Media sources B. Public sources C. Commercial sources D. Personal sources E. The Internet

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Personal sources

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The degree to which the innovation appears superior to existing products A. Relative Advantage B. Compatibility C. Complexity D. Divisibility E. Communicability

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Relative advantage

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The degree to which the innovation fits the values and experiences of potential customers A. Relative Advantage B. Compatibility C. Complexity D. Divisibility E. Communicability

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Compatibility

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The degree to which the innovation is difficult to understand or use A. Relative Advantage B. Compatibility C. Complexity D. Divisibility E. Communicability

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Complexity

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The degree to which innovation may be tried on a limited basis A. Relative Advantage B. Compatibility C. Complexity D. Divisibility E. Communicability

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Divisibility

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The degree to which the results of using the innovation can be observed or described to others A. Relative Advantage B. Compatibility C. Complexity D. Divisibility E. Communicability

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Communicability

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Business markets deal with far ___ but far ________ buyers

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1. Fewer 2. Larger

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Business markets involve far ____ dollars and items than do consumer markets

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More

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Many business markets have ____ and fluctuating demand (the total demand for many business products is not much affected by price changes)

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Inelastic

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What is the nature of demand in business markets? A. Demand in business markets does not fluctuate. B. Demand in business markets is elastic. C. Demand in business markets is derived demand. D. Demand in business markets fluctuates less than in consumer markets. E. Business market demand is independent of consumer market demand

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Demand in business markets is derived demand.

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Business buyers usually face _____ complex buying decisions than do consumer buyers

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More

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In the business buying process, the buyer and seller are often much _____ dependent on each other

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More

question

The buyer reorders something without any modifications A. new task B. system selling C. buying decision D. straight rebuy E. modified rebuy

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Straight rebuy

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The buyer wants to modify product specifications, prices, terms, or suppliers A. new task B. system selling C. buying decision D. straight rebuy E. modified rebuy

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Modified rebuy

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A company buying a product or service for the first time faces a _____ situation A. new task B. system selling C. buying decision D. straight rebuy E. modified rebuy

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New task

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The buyer makes the fewest decisions in the __________ and the most in the ____ decision

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1. Straight rebuy 2. New task

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The decision-making unit of a buying organization

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Buying center

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Consists of all the individuals and units that play a role in that business purchase decision-making process

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Buying center

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What is STP?

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Segmenting, targeting, positioning

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Identifying meaningfully different groups of customers A. Segmenting B. Targeting C. Positioning

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Segmenting

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Selecting which segments to serve A. Segmenting B. Targeting C. Positioning

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Targeting

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Implementing chosen image and appeal to chosen segment A. Segmenting B. Targeting C. Positioning

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Positioning

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In which stage of STP do you use the 4 P's

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Positioning

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Dividing a market into different geographical units such as: nations, states, regions, counties, cities, or neighborhoods A. Geographic segmentation B. Behavioral segmentation C. Psychographic segmentation D. Demographic segmentation

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Geographic segmentation

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Dividing a market into segments based on variables such as: age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation -Most popular basis for segmenting customer groups A. Geographic segmentation B. Behavioral segmentation C. Psychographic segmentation D. Demographic segmentation

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Demographic segmentation

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In which targeting strategy does a firm go after a large share of one or a few smaller segments? A. Differentiated marketing B. Concentrated marketing C. Micromarketing D. Mass marketing E. Undifferentiated marketing

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Concentrated marketing

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What are the four major variables used to segment consumer markets? A. Ethnicity, region, gender, and income B. Geographic, demographic, psychographic, and psychological C. Geographic, demographic, psychographic, and behavioral D. Income, age, geography, and lifestyle E. Income, gender, age, and ethnicity

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Geographic, demographic, psychographic, and behavioral

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Which structural factor would make a market segment attractive to enter? A. New entrants can easily come into the segment B. Powerful buyers C. Powerful suppliers D. Very few actual or potential substitute products E. Many strong and aggressive competitors

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Very few actual or potential substitute products

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-Marketers segment their markets using variables such as: Social class Lifestyle Personality characteristics -The products people buy reflect their lifestyles. A. Geographic segmentation B. Behavioral segmentation C. Psychographic segmentation D. Demographic segmentation

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Psychographic segmentation

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Divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product -Occasions, benefits, user status, usage rate, loyalty status A. Geographic segmentation B. Behavioral segmentation C. Psychographic segmentation D. Demographic segmentation

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Behavioral segmentation

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What is market segmentation? A. Differentiating the firm's market offering to create superior customer value B. Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers C. Marketing to a mass market of homogenous buyers D. Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes E. Evaluating each market segment's attractiveness and selecting one or more market segments to enter

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Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes

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Evaluating each market segment's attractiveness and selecting one or more market segments to serve A. positioning B. market segmentation C. market targeting D. mass marketing E. differentiation

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Market targeting

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Involves actually differentiating the firm's market offering to create superior customer value

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Differentiation

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Your local pizzeria promises "Delivery in 30 minutes or less or the pizza is free." What point of differentiation is this? A. Product differentiation B. Image differentiation C. Channel differentiation D. People differentiation E. Services differentiation

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Services differentiation

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A company can differentiate itself from competitors using symbols such as McDonald's golden arches, Twitter's bird, and the Nike swoosh. Which type of differentiation is this? A. Services differentiation B. People differentiation C. Image differentiation D. Channel differentiation E. Product differentiation

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Image differentiation

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______ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. A. Differentiation B. Market segmentation C. Market targeting D. Positioning E. Mass marketing

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Positioning

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Heeltoe, a boutique that caters to the footwear needs of women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on ________ variables. A. geographic B. behavioral C. psychographic D. universal E. demographic

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Demographic

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Toyota allows Scion buyers to customize their cars to meet their exact needs and preferences. This is an example of ____________. A. segmented marketing B. differentiated marketing C. micromarketing D. concentrated marketing E. undifferentiated marketing

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Micromarketing

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Byron Tied 2 Bowties groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Byron Tied 2 Bowties creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its market? A. Geography B. Benefits sought C. Demographics D. Personality E. Behavior

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Geography

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Consists of a set of buyers that share common needs or characteristics that the company decides to serve

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Target market

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Using this strategy, a firm might decide to ignore market segmentation differences and target the whole market with one offer -Focuses on what is common in the needs of consumers other than what is different

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Mass marketing

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Using this strategy, a firm decides to target several market segments and designs separate offers for each

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Segmented marketing

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Using this strategy, instead of going after a small share of a large market, a firm goes after a large share of one or a few smaller segments or niches -Lets smaller companies focus their limited resources on serving niches that may be unimportant to or overlooked by larger competitors

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Niche marketing

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The practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations -Sees the individual in every customer

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Micromarketing

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Involves tailoring brands and promotions to the needs and wants of local customers

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Local marketing

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Tailoring products and marketing programs to the needs and preferences of individual customers

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Individual marketing

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The extent that a company can differentiate and position itself as providing superior customer value

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Competitive advantage

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A difference is worth establishing to the extent that it satisfies the following criteria:

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Important, distinctive, superior, communicable, preemptive, affordable, profitable

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A _______ defines how a company will create differentiated value for targeted segments and what positions it wants to occupy in those segments. A. value statement B. mission statement C. unique proposition D. value proposition E. positioning map

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Value proposition

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Consists of all the benefits the product will provide for consumers or business customers

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Core product

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What is a product's position? A. How the company advertises a product B. How much consumers are willing to pay for a product C. The way a product is defined by consumers on important attributes D. Where a product is located on store shelves E. The market share of a product

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The way a product is defined by consumers on important attributes

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Socially responsible target marketing would classify which of the following as an especially vulnerable target market for harmful or controversial products? A. Wealthy consumers B. Baby Boomers C. Females D. Single households E. Children

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Children

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-Consists of the physical good or delivered service that supplies the desired benefit -Also includes appearance, styling, packaging, and the brand

answer

Actual product

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H2Coast, an automobile manufacturer, produces fuel-efficient hybrid vehicles that are targeted toward middle-income consumer groups. H2Coast most likely segments the consumer market based on ________ variables. A. geographic B. psychographic C. universal D. behavioral E. demographic

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Demographic

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Consists of the actual product plus other supporting features such as warranty, credit, delivery, installation, and repair service after the sale:

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Augmented product

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Many marketers think that companies should aggressively promote only one benefit to the target market. The benefit promoted is known as a(n) ________. A. unique benefit proposition B. unique selling proposition C. unique position proposition D. unique difference proposition E. unique product proposition

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Unique selling proposition

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Which of the following is the correct definition of a product? A. A product is a tangible good or a service that can be offered to a market for attention, acquisition, use, or consumption that does not satisfy a want or need. B. A product is anything that can be offered to a market for consumption that does not satisfy a want or need. C. A product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. D. A product is a tangible good or a service that can be offered to a market for consumption that might satisfy a want or need. E. A product is a tangible good that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.

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A product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.

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What are the two broad classifications of products? A. Consumer products and household products B. Consumer products and business products C. Necessity products and luxury products D. Consumer products and industrial products E. Grocery products and luxury products

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Consumer products and industrial products

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The major product line decision involves the line's ______, or the number of items in the product line. A. scope B. mix C. portfolio D. depth E. length

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Length

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A form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything

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Services

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To differentiate their offers, beyond simply making products and delivering services, companies are creating and managing customer _____ with their brands or companies

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Experiences

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The most basic level of the product concept

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Core customer value

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Products and services bought by final consumers for personal consumption

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Consumer products

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Consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort A. Convenience products B. Shopping products C. Specialty products D. Unsought products

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Convenience products

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Less frequently purchased consumer products and services that customers compare carefully on sustainability, quality, price, and style A. Convenience products B. Shopping products C. Specialty products D. Unsought products

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Shopping products

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Consumer products and services with unique characteristics or bran identifications for which a significant group of buyers is willing to make a special purchase effort A. Convenience products B. Shopping products C. Specialty products D. Unsought products

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Specialty products

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Consumer products that the consumer wither does not know about or knows about but does not normally consider buying A. Convenience products B. Shopping products C. Specialty products D. Unsought products

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Unsought products

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Those products purchased for further processing or for use in conducting a business

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Industrial products

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A name, term, sign, symbol, or design or a combination of these that identifies the maker or seller of a product or service

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Brand

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The differential effect that knowing the brand name has on customer response to the product and its marketing -Measure of the brand's ability to capture consumer preference and loyalty

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Brand equity

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Key characteristics of a service: A. services are inexpensive, easy to find, intangible, and variable. B. services are intangible, inseparable, variable, and perishable. C. services are intangible, perishable, consistent, and inseparable. D. services are intangible, variable, perishable, and inexpensive. E. services are intangible, inexpensive, easy to find, and automated.

answer

Services are intangible, inseparable, variable, and perishable.

question

Which of the following statements is true regarding the marketing of services? A. For service providers, a solution to price competition is to develop a differentiated offer, delivery, and image. B. Service providers do not need to differentiate their offerings. C. Customer-facing employees are not important in the marketing of services. D. Buyer-seller interaction during the service encounter has little impact on service quality. E. Service providers do need to use segmentation and target marketing.

answer

For service providers, a solution to price competition is to develop a differentiated offer, delivery, and image.

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Services cannot be seen, tasted, felt, heard, or smelled before they are bought A. Intangibility B. Inseparability C. Variability D. Perishability

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Service intangibility

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Services cannot be separated from their providers, whether the providers are people or machines A. Intangibility B. Inseparability C. Variability D. Perishability

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Inseparability

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The quality of the service depends on who provides them as well as when, where, and how they are provided A. Intangibility B. Inseparability C. Variability D. Perishability

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Variability

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Services cannot be stored for later sale or use A. Intangibility B. Inseparability C. Variability D. Perishability

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Perishability

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For which service characteristic do marketers need to pay close attention to fluctuations in demand? A. Tangibility B. Inseparability C. Variability D. Intangibility E. Perishability

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Perishability

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A group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges

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Product line

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Consists of all of the product lines and items that a particular seller offers for sale

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Product mix

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Main function of product packaging?

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Marketing

question

Which of the following statements is true regarding packaging? A. Packaging does not influence the consumer buying decision. B. Packaging does not impact product safety. C. Packaging is not an important consideration in product strategy. D. Packaging can be an important part of a brand's identity. E. Packaging is not used to gain a competitive advantage.

answer

Packaging can be an important part of a brand's identity.

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Functions of labeling

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Identifies product, describe the product, promote the brand/engage customers

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Service marketing requires ________. This means that the service firm must orient and motivate its customer-contact employees and supporting service people to work as a team to provide customer satisfaction A. Interactive marketing B. Internal marketing C. The service firm to only focus on the customer D. Image differentiation E. External marketing

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Internal marketing

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Service quality depends heavily on the quality of the buyer-seller interaction during the service encounter A. Interactive marketing B. Internal marketing C. The service firm to only focus on the customer D. Image differentiation E. External marketing

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Interactive marketing

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Links service from profits with employee and customer satisfaction

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Service profit chain

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Which of the following statements is true regarding managing service quality? A. Unlike product quality, service quality will always vary. B. Service recovery is unimportant in managing service quality. C. Setting standards is not important in delivering service quality. D. Customer retention is not related to service quality. E. Service quality is easier to define and judge than product quality.

answer

Unlike product quality, service quality will always vary

question

The best measure of service quality

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Customer retention

question

Which of the following is included in a broad definition of marketing? A. Advertising, selling, and developing quality products B. Creating customer value, building customer relationships, and having a strong selling orientation C. Selling, advertising, and promoting D. Creating customer value, building customer relationships, and engaging customers E.Satisfying customers, beating competitors, and maximizing profits

answer

Creating customer value, building customer relationships, and engaging customers

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The first step of the marketing process is to ___________________. . A. capture value from customers to create profits and customer equity B. understand the marketplace, which includes customer needs and wants. C. construct an integrated marketing program that delivers superior value D. design a customer-driven marketing strategy E. build profitable relationships

answer

Understand the marketplace, which includes customer needs and wants.

question

Which of the following correctly identifies the five core customer and marketplace concepts? A. Needs, wants, and demands; market offerings; value and satisfaction; exchanges and relationships; and markets B. Needs, wants, and demands; market offerings; value; satisfaction; and markets C. Needs, wants, and demands; market offerings; value and satisfaction; competitors; and profits D. Needs, wants, and demands; products; value; customers; and competitors E. Needs, wants, demands, market offerings, and markets

answer

Needs, wants, and demands; market offerings; value and satisfaction; exchanges and relationships; and markets

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Which of the following represent market offerings? A. Needs, wants, products, and advertisements B. Products, services, information, and experiences C.Products, services, needs, and wants D. Value, satisfaction, sales, and profits E. Products, services, needs, and exchanges

answer

Products, services, information, and experiences

question

To design a winning marketing strategy, what are the two important questions a marketing manager must answer? A. Who are our competitors? How can we beat our competitors? B. What customers will we serve? How can we maximize profits? C. What markets should we enter? How do we maximize sales in those markets? D. How can we serve our customers best? How can we maximize profits? E. What customers will we serve? How can we serve these customers best?

answer

What customers will we serve? How can we serve these customers best?

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Which marketing management orientation holds that a firm should have a customer focus to achieve sales and profits? A. The marketing concept B. The product concept C. The selling concept D. The societal marketing concept E. The production concept

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The marketing concept

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What are the two keys to building lasting customer relationships? A. Value and satisfaction B. Satisfaction and sales promotions C. Value and customer service D. Customer service and quality products E. Innovative products and low prices

answer

Value and satisfaction

question

A company rarely gets 100% of a customer's purchases for a product category. The share it does get of the customer's purchasing in its product categories is called ________. A. customer equity B. share of customer C. customer defections D. share of market E. customer lifetime value

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Share of customer

question

Digital marketing tools used in digital and social media marketing include ________. A. social media, mobile apps, and television advertising B. social media, online video, and newspaper coupons C. mobile apps, online video, and personal selling D. e-mail, telemarketing, and blogs E. social media, mobile apps, and blogs

answer

Social media, mobile apps, and blogs

question

Selling and advertising are part of a larger set of marketing tools that work together to satisfy customer needs and build customer relationships known as _____________. A. customer-engagement marketing B. customer equity C. market offerings D. the marketing concept E. the marketing mix

answer

The marketing mix

question

Vince's Video has suffered in the current economy because fewer people have the money for videos and because people utilize available technology, including online streaming sites like YouTube and Hulu. The videos Vince's Video does sell are often out priced by versions coming from China or Taiwan, or they are accused of damaging the environment. Which of the following marketing impacts has not likely affected Vince's Video? A. The digital age B. Sustainable marketability C. Not-for-profit marketing D. The changing economic environment E.Rapid globalization

answer

Not-for-profit marketing

question

Bob's Bicycle Sales and Repair is a brand new company. From a marketing standpoint, what is the FIRST thing Bob's Bicycle Sales and Repair needs to do? A. Develop the best bicycle selection to sell. B. Determine who in the community wants or needs a bicycle or repair service. C. Develop relationships with the customers who come to purchase bicycles or repair services. D. Develop a plan to sell as many bicycles as possible. E. Advertise the company as a location in which to purchase bicycles or repair services.

answer

Determine who in the community wants or needs a bicycle or repair service.

question

When is the selling concept typically used by marketers? A. For seasonal items B. When the company focuses on customer needs C. For the purchase of unsought goods D. When the company seeks the long-term welfare of society E. When the product is of high quality

answer

For the purchase of unsought goods

question

How does the new concept of marketing differ from the old concept of marketing? A. The new concept is more cost efficient. B. The new concept focuses on making money. C.The new concept requires less work from marketing executives. D. The new concept focuses on the needs of the customer. E. The new concept focuses on having a well-developed product.

answer

The new concept focuses on the needs of the customer.

question

The ultimate goal of the marketing process is to do which of the following? A. Create a quality product. B. Evaluate customer needs. C. Determine a target market. D. Capture value from customers. E. Develop relationships with customers.

answer

Capture value from customers.

question

Advantage Airlines has instituted a loyalty rewards program that rewards customers with free Wi-Fi, seat upgrades, and free miles for their continued patronage. What relationship tool is Advantage Airlines using? A. Club marketing program B. Consumer-generated marketing C. Mass-media marketing D. Frequency marketing program E. Customer-perceived value

answer

Frequency marketing program

question

You can practice sustainable marketing by adhering to general practices. Which of the following would allow a company to profit by serving immediate needs and long-term interests but not necessarily be a practice of sustainable marketing? A. Seek ways to profit by serving the long-run interests of customers and communities. B. Help protect the natural environment. C. Practice caring capitalism by being civic minded and responsible. D. Deliver value in a socially and environmentally responsible way. E. Delay responding to environmental legislation as it is instituted.

answer

Delay responding to environmental legislation as it is instituted.

question

June and Beatrice have started a new company, Junbee Inc., and are having trouble deciding which marketing path to take to drive sales. June believes they should follow a make-and-sell philosophy that focuses on improving their product, whereas Beatrice believes they should be more customer-oriented and find the right products for their customers. Which of the following BEST describes this situation? A. Should Junbee Inc. follow a marketing concept or a societal marketing concept? B. Should Junbee Inc. follow a product or marketing concept? C. Should Junbee Inc. follow a societal marketing or production concept? D. Should Junbee Inc. follow a production or selling concept? E. Should Junbee Inc. follow a product or selling concept?

answer

Should Junbee Inc. follow a product or marketing concept?

question

The act of obtaining a desired object from someone by offering something in return is known as which of the following? A. A trade B. A swap C. A sale D. A barter E. An exchange

answer

An exchange

question

How has the Internet MOST affected companies and customers? A. The Internet has made advertising easier. B. The Internet has allowed consumers to take marketing content and share it. C. The Internet has made creating an image more important. D. The Internet has increased the potential customer base. E. The Internet has lowered prices.

answer

The Internet has allowed consumers to take marketing content and share it.

question

What is MOST likely to cause a variation in customer-perceived value? A. The popularity of a product to the customer B. The customer's satisfaction with a product C. The cost to produce a product D. The customer's opinion of what constitutes value E. The cost of advertising to the target market

answer

The customer's opinion of what constitutes value

question

Which marketing philosophy holds that consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort? A. Product concept B. Marketing concept C. Societal marketing concept D. Production concept E. Selling concept

answer

Selling concept

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Which of the following is NOT one of the four Ps of the marketing mix? A. Product B. Price C. Place D. Profit E. Promotion

answer

Profit

question

Which of the following correctly lists the actors in a company's microenvironment? A. The company, suppliers, marketing intermediaries, customer markets, competitors, and publics B. The company, suppliers, marketing intermediaries, technological forces, competitors, and cultural forces C. The company, customers, suppliers, demographic forces, cultural forces, and competitors D. Demographic forces, economic forces, technological forces, cultural forces, political forces, and customers E. The company, customers, suppliers, demographic forces, cultural forces, and publics

answer

The company, suppliers, marketing intermediaries, customer markets, competitors, and publics

question

Forces in a company's macroenvironment that shape opportunities and pose threats to the company include what? A. Competitors, marketing intermediaries, demographics, political, and technology B. Competitors, suppliers, natural, publics, and culture C. Demographics, technology, culture, political, and publics D. Demographic, economic, natural, technological, political/social, and cultural forces E. Competitors, marketing intermediaries, publics, natural, and customers

answer

Demographic, economic, natural, technological, political/social, and cultural forces

question

What is the single most important demographic trend in the U.S. today? A. Changes in the American family B. The changing age structure of the population C. A better educated population D. Geographic population shifts E. Increasing diversity

answer

The changing age structure of the population

question

In addition to income levels, marketers need to pay attention to ______, which has created a tiered market. A. foreign exchange rates B. interest rates C. consumer debt D. savings patterns E.income distribution levels

answer

Income distribution levels

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Which of the following is an important trend in the natural environment of which marketers should be aware? A. Shortages of raw materials B. Decreased pollution C. Decreasing costs of nonrenewable resources D. A decrease in consumer concern towards the environment E. Decreased government intervention

answer

Shortages of raw materials

question

Which of the following is a reason for business legislation? A. To ensure that competition is unregulated B. To provide legal guidelines for businesses and marketers without actually enforcing them C. To ensure that companies make profits D. To remove legal regulations from the free market economy E. To protect consumers from unfair business practices

answer

To protect consumers from unfair business practices

question

What advice would you give a firm about how to respond to the changing marketing environment? A. Do not do anything until competitors respond. B. If the current strategy is working, there is no need to respond to environmental changes. C. Whenever possible, take a proactive approach to the environment. D. Accept the fact that things change and not much can be done about it. E. Watch environmental changes but react only when absolutely necessary.

answer

Whenever possible, take a proactive approach to the environment.

question

Firms that develop strategies to change the environmentlong dash—instead of assuming that strategic options are bounded by the current environmentlong dash—are being _______. A. reactive B. passive C. proactive D. shortsighted E. unethical

answer

Proactive

question

Chicago's Best Pizzeria has been operating on the north side of Chicago for over 30 years. Its target market includes young, urban professionals who want new style, organic pizzas with exotic ingredients. However, in recent years, the population in the pizzeria's neighborhood has been shifting and fewer young, urban professionals live there. The population has grown older and wants traditional pizza, not pizza with exotic ingredients. Which of the following identifies the pizzeria's BEST response to this situation? A. Target a new market with a different product. B. Run an ad campaign on the health benefits of pizza. C. Be proactive and convince customers that "exotic is better." D. Cut the prices on its pizza. E. Sell a different food product, such as hamburgers or sushi.

answer

Target a new market with a different product.

question

Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six years, sales have continuously declined and profits have almost completely disappeared. The CEO of Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to Tina's Tunes? A. Tina's Tunes is likely to fail because it is ignoring the current political environment. B. Tina's tunes are likely to prosper as mistrust in the digital age increases. C. Tina's Tunes is likely to fail because it is ignoring the natural environment. D. Tina's Tunes will experience a rebound as the fear of the Great Recession declines. E. Tina's Tunes is likely to fail because it is ignoring the technological environment

answer

Tina's Tunes is likely to fail because it is ignoring the technological environment

question

Roper's Radical Racers is an upscale company that sells cars primarily to racecar drivers and movie producers. In the past, Roper's Radical Racers marketed itself to the fun-loving driverlong dash—the driver who wanted to "race with life." However, in the current economy, Roper's has changed its slogan to "superior speed, superior savings." Roper's Radical Racers is engaging in which of the following? A. Value marketing B. Price slashing C. Market consideration D. Income distribution E. Diversity targeting

answer

Value marketing

question

To be successful, why should companies try to adopt a proactive stance on marketing? A. A proactive stance allows a company to compete with its competitors on pricing alone. B. A proactive stance allows a company to influence the market in its favor. C. A proactive stance allows a company to let the market determine prices for its products. D. A proactive stance allows a company to compete with its competitors on quality alone. E. A proactive stance ensures that a company will increase its market share.

answer

A proactive stance allows a company to influence the market in its favor

question

Beverly's Burgers came under fire recently when allegations were made that its veggie burgers were actually made with beef. To counter the claims, the restaurant called in a company to test not only its veggie burgers but also the rest of its vegetarian options to prove they lacked meat. The results were displayed publicly on the restaurant's Facebook page. What BEST describes Beverly's Burgers response to the allegations? A. Passive B. Determinative C. Reactive D. Steadfast E. Proactive

answer

Proactive

question

According to the text, two major public policy and ethical issues in marketing research are ________. A. misuse of research findings and improper sampling procedures B. paying research respondents and intrusions on consumer privacy C. deceptive advertising and illegal pricing D. intrusions on consumer privacy and inaccurate data analysis E. intrusions on consumer privacy and the misuse of research findings

answer

Intrusions on consumer privacy and the misuse of research findings

question

_______ consists of the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance. A. CRM B. Touch points C. Marketing analytics D. Marketing information E. Big data

answer

Marketing analytics

question

An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following is the CPO MOST likely to do as a function of his job? A. Use customer data in such a way to convince customers to buy products. B. Inform customers of the company's privacy policy. C. Scour consumer financial information. D. Compile an exhaustive resource of customer data. E. Track the clicks of customers on websites.

answer

Inform customers of the company's privacy policy.

question

Which of the following is NOT a step in the marketing research process? A. Interpreting and reporting the findings B. Implementing the research plan C. Comparing research findings to other studies D. Developing the research plan E. Defining the research problem

answer

Comparing research findings to other studies

question

Lydia's Lights wants to extend its market into Mexico. Before jumping in, the company needs to conduct some in-depth research to gauge customer's needs, interests, and buying patterns. Which of the following is the BEST option for Lydia's Lights? A. Set up a call center to be the base for researchers to telephone the target consumers. B. Send researchers door-to-door to collect the data from target consumers. C. Gather only secondary data to minimize expenses. D. Send out a survey by mass e-mail to the target consumers. E. Deliver surveys to the target consumers through the mail.

answer

Send researchers door-to-door to collect the data from target consumers.

question

Competitive marketing intelligence uses _________ data sources. A. private B. expensive C. competitor's internal D. publicly available E. internal

answer

Publicly available

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