Marketing Exam 2 Hacker

question

Which step of the market research process involves specifying the research objectives and identifying the consumer population of interest?
answer

Defining the research problem
question

Defining the research problem is the step of the market research process that involves __________.
answer

specifying the research objectives and identifying the consumer population of interest
question

Which step of the market research process involves translating questionnaires and responses?
answer

Collecting the data
question

An example of secondary research is __________
answer

customer feedback
question

Preparing the research report is the __________ step in the market research process
answer

last
question

An example of primary research is __________.
answer

projective techniques
question

What is a market intelligence system?
answer

A method by which marketers get information about everyday happenings in the marketing environment
question

Defining the research problem is the __________ step in the market research process.
answer

first
question

Which of the following is an advantage of collecting data via an online questionnaire?
answer

No geographic restrictions
question

Which of the following is an example of secondary research?
answer

Published research
question

The technique that marketers use to generate insights for future, more rigorous studies is __________.
answer

exploratory research
question

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

A process that first determines what information marketing managers need and then gathers, sorts, analyzes, stores, and distributes relevant and timely marketing information
question

__________ is general information that specialized firms collect on a regular basis and then sell to other firms.
answer

Syndicated research
question

Identify the last step in the market research process.
answer

Preparing the research report
question

In the market research process, designing the sample is the step that occurs immediately before the step of __________.
answer

analyzing and interpreting the data
question

What is validity?
answer

The extent to which research actually measures what it was intended to measure
question

The collection, deployment, and interpretation of information that allow a business to acquire, develop, and retain its customers is known as __________.
answer

customer insights
question

A collection of raw, unorganized facts that needs to be processed is __________.
answer

data
question

Which of the following describes a process that first determines what information marketing managers need and then gathers, sorts, analyzes, stores, and distributes relevant and timely marketing information?
answer

Marketing information system (MIS)
question

What is reverse engineering?
answer

The process of physically deconstructing a competitor’s product to determine how it’s put together
question

Which of the following is an example of primary research?
answer

Customer interviews
question

What is the name for a technique that attempts to understand cause-and-effect relationships?
answer

Causal research
question

Which of the following describes exploratory research?
answer

A technique that marketers use to generate insights for future, more rigorous studies
question

An advantage of collecting data via an online questionnaire is __________.
answer

instantaneous data collection and analysis
question

What is market research?
answer

The process of collecting, analyzing, and interpreting data about customers, competitors, and the business environment in order to improve marketing effectiveness
question

__________ is a tool that probes more systematically into the problem and bases its conclusions on large numbers of observations.
answer

Descriptive research
question

Which of the following is a method by which marketers get information about everyday happenings in the marketing environment?
answer

Market intelligence system
question

Collecting the data is the step of the market research process that involves __________.
answer

translating questionnaires and responses
question

Identify the first step in the market research process.
answer

Defining the research problem
question

Which of the following describes a probability sample?
answer

A sample in which each member of the population has some known chance of being included
question

All of the following are sources marketing managers use to collect and analyze data within a marketing firm EXCEPT​ ________.
answer

the MDSS process
question

Typically, the marketing manager uses​ a(n) ________ to enhance the entire Management Information System​ (MIS).
answer

Management Decision Support System​ (MDSS)
question

A(n) ________ refers to the​ data, analysis​ software, and interactive software that allow managers to conduct analyses and find the information they need.
answer

marketing decision support system​ (MDSS)
question

​________ consists of​ raw, unorganized facts that become​ ________ when they are​ transformed, analyzed, and interpreted.
answer

​Data; information
question

​________ refers to the​ collection, deployment, and interpretation of information that allows a business to more astutely​ acquire, develop, and retain its customers.
answer

Customer insight
question

​________ is the​ collection, deployment, and interpretation of information that allows a business to​ acquire, develop, and retain its customers.
answer

Customer insight
question

What is the next step in the marketing research process after determining the research​ design?
answer

Choose the method to collect primary data.
question

There are essentially three methods or techniques to research design including​ exploratory, ________, and causal research.
answer

descriptive
question

In a​ ________ sample, some members of the population have no chance at all of being included.​ Thus, there is no way to ensure that the sample is representative of the population.​ Therefore, results from these studies can be generally suggestive of what is going on in the real world but are not necessarily definitive.
answer

nonprobability
question

Which of the following signifies an event that occurs on a Web page that indicates the meeting of a predefined goal associated with the consumer’s interaction with that page?
answer

A conversion
question

What is information overload?
answer

A state in which the marketer is buried in so much data that it becomes nearly paralyzing to decide which of the data provides useful information and which does not.
question

What is marketing analytics?
answer

A group of technologies and processes that enables marketers to collect, measure, analyze, and assess the effectiveness of marketing efforts.
question

What is a popular term to describe the exponential growth of data in massive amounts that are hard or impossible to process using traditional database techniques?
answer

Big Data
question

What is the second step in one-to-one marketing?
answer

Differentiate among customers.
question

Which application of data mining is in place when the firm identifies big-spending customers and then targets them for special offers and inducements other customers won’t receive?
answer

Customer retention and loyalty
question

___________ are specific measures that help marketers watch the performance of their marketing campaigns, initiatives, and channels and, when appropriate, serve as a control mechanism.
answer

Marketing metrics
question

___________ is the cost of gaining an order in terms of the marketing investment made to turn a website visitor into a customer who has chosen to make a transaction.
answer

Cost-per-order
question

Which of the following describes share of customer?
answer

The percentage of an individual customer’s purchase of a product that is a single brand
question

The metric that indicates the percentage of website users who have decided to click on an ad in order to visit the website or Web page associated with it is __________.
answer

click-through
question

The collection and analysis of machine-sensed environmental data pertaining to human social behavior with the goal of identifying predictable patterns of behavior is __________.
answer

reality mining
question

What are structured data?
answer

Data that (1) is typically numeric or categorical; (2) can be organized and formatted in a way that is easy for computers to read, organize, and understand; and (3) can be inserted into a database in seamless fashion
question

Which of the following is an example of unstructured data?
answer

Video transcripts
question

What of the following describes a conversion?
answer

Signifies an event that occurs on a Web page that indicates the meeting of a predefined goal associated with the consumer’s interaction with that page
question

The financial value of a customer throughout the lifetime of the relationship is __________.
answer

customer equity
question

Sentiment analysis is __________.
answer

the process of identifying one’s attitude toward a brand by assessing the context or emotion of one’s comments
question

What is Web scraping?
answer

The process of using computer software to extract large amounts of data from websites
question

Which of the following consists of sophisticated techniques to take advantage of the massive amount of transaction information now available?
answer

Data mining
question

In one-to-one marketing, initiating more dialogue with customers is part of the __________ step.
answer

interact
question

Which of the following is an online ad purchase in which the cost of the ad is charged only each time an individual clicks on the ad and is directed to the Web page to which the marketer linked within the ad?
answer

Cost-per-click
question

Which of the following describes customer relationship management (CRM)?
answer

A systematic tracking of consumers’ preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individual’s wants and needs
question

The elements of customer relationship management​ (CRM) conclude with​ ________.
answer

customizing aspects of goods and service
question

The financial value of a customer throughout the lifetime of the relationship is the​ ________.
answer

customer equity
question

Which of the following is not directly related to a competitive advantage of using Big​ Data?
answer

Measuring customer equity
question

Sophisticated analysis techniques that take advantage of the massive amount of transaction information now available are described as​ ________.
answer

data mining
question

An effective set of technologies and processes that enables marketers to​ collect, measure,​ analyze, and assess the effectiveness of marketing efforts is known as​ ________.
answer

marketing analytics
question

Firms are increasingly employing​ ________, a systematic process of ensuring​ one’s firm comes up at or near the top of lists of typical search phrases related to the​ business, to increase its visibility on the Internet.
answer

search engine optimization​ (SEO)
question

When marketing managers want to track and measure the performance of their marketing​ campaigns, initiatives, and channels​ and, when​ appropriate, serve as a control mechanism for when corrective action is​ necessary, they use​ ________.
answer

marketing metrics
question

A metric often used to determine when a customer goes beyond merely visiting a webpage and which indicates reaching a predefined goal associated with the​ consumer’s interaction with that page is referred to as ​________.
answer

conversion
question

​________ is a marketing metric that indicates the percentage of Web site users who have decided to click on an advertisement in order to visit the Web site or Web page associated with it.
answer

Click-through
question

A private, corporate computer network that links company departments, employees, and databases to suppliers, customers, and others outside the organization is a(n) __________.
answer

extranet
question

In consumer markets, __________.
answer

purchases are often based on brand reputation with little or no product expertise
question

Which of the following is true of consumer markets?
answer

Purchases are frequently made on impulse.
question

Problem recognition is the __________ step in the consumer decision-making process.
answer

first
question

Which of the following describes cognition?
answer

The knowing component of attitudes; it refers to the beliefs or knowledge a person has about a product and its important characteristics
question

With regard to Maslow’s hierarchy of needs, which of the following needs describe belongingness?
answer

Love, friendship, and acceptance by others
question

How is consumer behavior best defined?
answer

The process where individuals or groups select, purchase, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires
question

__________ is a practice in which firms outsource marketing activities to a community of users.
answer

Crowdsourcing
question

Which of the following is a marketing technique that links distinct sensory experiences such as a unique fragrance with a product or service?
answer

Sensory marketing
question

What is an extranet?
answer

A private, corporate computer network that links company departments, employees, and databases to suppliers, customers, and others outside the organization
question

What is perception?
answer

The process by which people select, organize, and interpret information from the outside world
question

Which of the following scenarios is an example of the evaluation of alternatives step of the consumer decision-making process?
answer

Mishael has narrowed down her new tablet choices to two different options and is weighing the pros and cons of each tablet that she is considering buying.
question

What is the name for the individuals or organizations that buy finished goods for the purpose of reselling, renting, or leasing to others to make a profit and to maintain their business operations?
answer

Resellers
question

A straight rebuy is a ___________.
answer

buying situation in which business buyers make routine purchases that require minimal decision making
question

What is the last step in the consumer decision-making process?
answer

Postpurchase evaluation
question

__________ are the group of customers that includes manufacturers, wholesalers, retailers, and other organizations.
answer

Business-to-business (B2B) markets
question

What is the first step in the consumer decision-making process?
answer

Problem recognition
question

Searching for information is the ___________ step in the business buying decision process.
answer

second
question

Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response on its own but will cause a similar response over time because of its association with the first stimulus is known as __________.
answer

classical conditioning
question

Which of the following describes an opinion leader?
answer

One who is frequently able to influence others’ attitudes or behaviors by virtue of one’s active interest and expertise in one or more product categories
question

What is the mass class?
answer

The hundreds of millions of global consumers who now enjoy a level of purchasing power that’s sufficient to let them afford high-quality products, excluding big-ticket items
question

What is search marketing?
answer

Marketing strategies that involve the use of Internet search engines
question

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

is motivated to search for more data on the product
question

In the process of making​ purchases, consumers go through a series of five steps. One of the following steps is not part of this sequence. Identify from the following the one task that is only a subset of another one of the steps the marketing manger would go through to make a purchase.
answer

Negotiate the price.
question

Consumer decisions differ​ greatly, ranging from​ ________ purchases, which are​ repeat, low-involvement​ purchases, to​ ________ purchases, which are extended​ problem-solving activities for​ important, risky, and​ high-involvement purchases.
answer

habitual, complex
question

Several internal factors influence consumer decisions. Which internal factor is an internal state that drives consumers to satisfy​ needs?
answer

Motivation
question

In addition to internal factors such as motivation and​ perception, influencing​ consumers’ behavior, what other​ factors, including age and family​ lifecycle, do marketing managers use to group people according to​ activities, interests, and opinions that may explain their reasons for purchasing​ products?
answer

Psychographics
question

​Consumers’ buying behavior and references for certain products and brands are influenced by social and group membership influences. These range from rather wide social influence to more narrow groups that are more immediate to the consumer. Which of the following is not a social or group influence on consumer buyer​ behavior?
answer

motivation
question

Dimensions of the physical environment create arousal and pleasure and can determine how consumers react to the environment. Which of the following elements are considered to be situational influences on buyer​ behavior?
answer

time of​ day, the season of the​ year, and how much time one has
question

B2B markets include business or organizational customers who buy goods and services for purposes other than personal consumption. There are many differences between organizational and consumer markets including which one of the following​ factors?
answer

Demand is derived demand.
question

Business customers include​ producers, resellers,​ governments, and​ not-for-profit organizations. Of these business​ buyers, which one buys​ materials, parts, and various goods and services needed to produce other goods and services to be sold at a​ profit?
answer

Producers
question

A buying center is a group of people working together to make a buying decision. There are numerous roles in the buying center. Which person in the center controls the flow of information to​ others?
answer

The gatekeeper
question

What is targeting?
answer

A strategy in which marketers evaluate the attractiveness of each potential segment and decide in which of these groups they will invest resources to turn them into customers
question

Which of the following is a strategy that divides the total market into different segments on the basis of customer characteristics, selecting one or more segments and developing products to meet the needs of those specific segments?
answer

Target marketing
question

What is the first step in the target marketing process?
answer

Segmentation
question

Which of the following describes an approach that modifies a basic good or service to meet the needs of an individual?
answer

Mass customization
question

Generation X is a group of consumers who __________.
answer

often have a cynical attitude toward marketing
question

What is market fragmentation?
answer

The creation of many consumer groups due to a diversity of distinct needs and wants in modern society
question

What is positioning?
answer

A strategy that influences how a particular market segment perceives a good or service in comparison with the competition.
question

What are segmentation variables?
answer

Dimensions that divide the total market into fairly homogenous groups, each with different needs and preferences
question

What is the creation of many consumer groups due to a diversity of distinct needs and wants in modern society?
answer

Market fragmentation
question

Which of the following describes the strategy of establishing thought leadership in the form of bylines, blogs, commenting opportunities, videos, sharable social images, and infographics?
answer

Content marketing
question

When you create a __________ for a product or service, you need to develop a distinctive image that captures its character and benefits.
answer

brand personality
question

Positioning is the __________ and final step in the target marketing process.
answer

third
question

A perceptual map is a(n) __________.
answer

technique used to visually describe where brands are “located” in consumers’ minds relative to competing brands
question

A differentiated targeting strategy is a strategy that __________.
answer

develops one or more products for each of several distinct customer groups and makes sure these offerings are kept separate in the marketplace
question

What is a concentrated targeting strategy?
answer

A strategy that focuses a firm’s efforts on offering one or more products to a single segment
question

A usage rate is a __________.
answer

measurement that reflects the quantity purchased or frequency of use among consumers of a particular product or service
question

__________ is the use of psychological, sociological, and anthropological factors to construct market segments.
answer

Psychographics
question

Which of the following describes demographics?
answer

Statistics that measure observable aspects of a population, including size, age, gender, ethnic group, income, education, occupation, and family structure
question

What is segmentation?
answer

The process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics
question

Which of the following describes content marketing?
answer

The strategy of establishing thought leadership in the form of bylines, blogs, commenting opportunities, videos, sharable social images, and infographics
question

What is the name for a strategy in which marketers evaluate the attractiveness of each potential segment and decide in which of these groups they will invest resources to turn them into customers?
answer

Targeting
question

Segmentation is the __________ step in the target marketing process.
answer

first
question

A(n) __________ strategy develops one or more products for each of several distinct customer groups and makes sure these offerings are kept separate in the marketplace.
answer

differentiated targeting
question

What is the first stage in a positioning decision?
answer

Analyze competitors’ positions.
question

What is the name for a strategy that influences how a particular market segment perceives a good or service in comparison with the competition?
answer

Positioning
question

If you want to visually describe where brands are “located” in consumers’ minds relative to competing brands, you would create a ___________.
answer

perceptual map
question

As part of the decision-making process in positioning, marketers must define the competitive advantage, which means to __________.
answer

provide a reason why consumers will perceive the product as better than the competition
question

Which of the following describes mass customization?
answer

An approach that modifies a basic good or service to meet the needs of an individual
question

What is a target marketing strategy?
answer

Divides the total market into different segments on the basis of customer characteristics, selecting one or more segments and developing products to meet the needs of those specific segments
question

Which generation of consumers often has a cynical attitude toward marketing?
answer

Generation X
question

In which of the following strategies is the focus of a firm’s efforts on offering one or more products to a single segment?
answer

Concentrated targeting strategy
question

Which of the following describes dimensions that divide the total market into fairly homogenous groups, each with different needs and preferences?
answer

Segmentation variables
question

What is the last step in the target marketing process?
answer

Positioning
question

Brand personality is __________.
answer

the development of an identity for the product market that the target market will prefer over those of competing brands
question

The process of employing a​ ________ marketing strategy is to balance the efficiency of mass​ marketing, presenting the same items to all customers with the effectiveness of offering each individual exactly what she wants with​ micro-marketing. This process involves three steps.
answer

target
question

In target​ marketing, marketers follow three distinct steps. First the manager divides the total market into different segments based on customer​ characteristics, and then she selects one or more segments. What is the third step in the​ process?
answer

Developing products to meet the needs of targeted segments.
question

In the first step in application of the target marketing​ strategy, the marketer must determine which segmentation variable he will use. Which one of the following variables is a commonly accepted base for segmentation of​ business-to-business markets?
answer

North American Industry Classification​ (NAICS) codes
question

​Business-to-business markets are segmented by a different set of variables than consumers are. Which pair of the following are methods to segment the​ business-to-business market?
answer

Industrial demographics and geographic location
question

Marketers can often identify a segment to​ target, but that does not necessarily mean that it is a useful target. A viable target segment should satisfy several​ requirements, including all of the following except one. Which of one of the following factors is of very little concern to the marketer targeting a potential​ segment?
answer

Diversity
question

Marketers must decide on a targeting strategy and whether they should go after one total​ market, one or several market​ segments, or even target customers individually. Which approach chooses a targeting strategy that develops one or more products for each of several customer groups with different product​ needs?
answer

Differentiated
question

What is the final stage of developing a target marketing strategy to provide​ consumers, who belong to the targeted market​ segment, with a good or service that meets their unique needs and​ expectations?
answer

Positioning
question

The manufacturers of​ Amigo, a simple cell phone with only four​ buttons, was originally developed for children 8dash-12 years old. Sales were abysmal. The product was renamed Jitterbug and promoted to senior citizens as a safety tool for calling adult children or medical professionals in the event of an emergency. This action by the marketers is known as​ what?
answer

Repositioning
question

A company would be in the​ ________ stage of the positioning process if it were repositioning.
answer

evaluate responses and modify as needed

Get instant access to
all materials

Become a Member